Household property insurance

Property in the home, so everything which is not a permanent fixture of the building and which you would take with you when you move, can be insured in a household property insurance policy. Most people agree a so called, “named-risk” insurance policy which will cover their household property against loss/damage caused by specific risks detailed in the policy. The basic risks included in such policies are:

  • Fire, lightning, explosion
  • Burglary (the illegal entry into a home)
  • Vandalism following a break-in
  • Robbery (the use of violence to enter a home)
  • Mains water escaping from burst pipes and household units
  • Wind storm & hail

We also recommend insuring your household property so that it is also covered if lost/damaged by:

  • Civil unrest & malicious/willful damage
  • Smoke, soot, singe/scorching and sonic boom
  • Natural catastrophe (flood, sewage return, earth movement and snow pressure)
  • Theft of bicycles
  • Baggage insurance for travel

Case Example:

You return home from work to find your apartment has been broken into. The place has been turned upside down and on entering the living room, you discover that the door to the terrace has been forced open. Your named risk insurance policy will cover the replacement value of your stolen and/or damaged property. It will also cover any temporary repairs to secure your apartment and later the costs to repair the terrace door.

Insurance Value

For insurance purposes, it is usual to calculate an amount of Euro 650.00 for every square metre of living space. Based on this calculation, if you have a home with a living area of 100 m2, the correct amount to insure would be Euro 65,000.00. The insured value is your policy limit, so the maximum amount that you could ever receive from the insurance company for a single claim. As well as the actual policy limit, additional limits are in place for such items as jewellery, precious metals, coin collections, bonds, saving certificates and cash. Your annual premium is based upon the insurance value as well as the area where you are living and the risks you choose to insure. You can reduce your premium by agreeing a deductible.

Natural Catastrophe

Due to the sudden and heavy storms which often occur in the hot, sultry summers, we recommend insuring this risk. It will protect your property if the drains are unable to take the vast amount of rainwater and flooding or sewage return occurs.

Theft of Bicycles

Bicycles are always insured if they are stolen from a locked area of the home, so a locked garage or cellar. Our concept also covers bikes if they are stolen when away from the insured property.

Baggage Insurance

Your named risk insurance policy covers all your property whilst in the home. If you are in temporary accommodation such as a hotel or a holiday home, the policy will provide some insurance following a break-in but generally speaking, once you leave the home, your property is no longer insured. If you would like your property to be insured when you are travelling, you will need to arrange baggage insurance at an additional premium charge.

Glazing in the Home

If you accidental break glazing in the home, so shower doors, mirror, glass ceramic hobs, glass work surfaces etc., this is not insured in the household property policy. If you would like to insure the glazing in your home against accidental breakage, please ask us for an offer.

All-Risk Insurance Policies

It is also possible to arrange an “all-risk” insurance policy. Unlike a named risk policy, only those risks which are categorically excluded in the policy are not insured. These include:

  • Pre-meditated acts & your gross negligence.
  • Forgetting, losing or leaving property behind
  • Unexplainable disappearance of jewellery, wrist watches, pearls, jewels & precious stones.
  • Wear & tear, use & age.

All risk insurance policies provide worldwide insurance cover so when you are travelling, working or shopping the items you have with you are also insured. All risk policies are only issued for household property with a minimum value of at least Euro 150,000.00. Due to the nature of this cover, the insurance company may demand that additional security measures, such as burglar alarms, are fitted to the home before they will agree to provide insurance. All risk policies are flexible and tailor made to your needs. Limits for high value goods, such as precious jewellery, can easily be amended to meet your personal requirements.