The insured sum on your household contents policy is not a detail. Set it too low and you risk underinsurance — a reduced payout precisely when you need it most. Here is how to estimate the value of your belongings properly.
Why the insured sum matters so much
Your premium and, above all, your compensation depend on the declared sum. If it is lower than the real value of your belongings, the insurer can apply the underinsurance rule: compensation is reduced in proportion to the shortfall. Declare CHF 60,000 for belongings actually worth CHF 100,000, and you may be reimbursed for only 60% of a loss — even a partial one.
Replacement value, not second-hand value
In Switzerland, household contents are generally insured at replacement value: the cost of buying the items new today, not their second-hand price. This is good news — it is what lets you actually re-equip your home after a major loss — but it means you should not undervalue your belongings.
A room-by-room method
The most reliable approach is to go through your home methodically:
- Living room — sofa, furniture, TV, sound system, decorations.
- Kitchen — appliances, crockery, small electricals.
- Bedrooms — beds, wardrobes, clothing, computers.
- Bathroom and storage — linen, tools, sports gear.
- Valuables — jewellery, watches, art, bikes (often subject to specific limits).
Add up the replacement cost room by room. A photo or video inventory is also invaluable evidence in the event of a claim.
Watch the limits on valuables
Many contracts cap compensation for jewellery, watches or art at a percentage of the total sum. If you own high-value items, they often need to be declared separately to be fully covered.
Review your sum regularly
A move, a major purchase, a growing family: your belongings change. It is worth reassessing your insured sum every few years to keep cover aligned with reality.
In short
A well-estimated insured sum is your guarantee of being properly compensated. Take the time for a room-by-room inventory at replacement value, and pay attention to limits on valuables. Helvate can help you set the right amount and avoid both underinsurance and overpaying.
[form id="1"]
