Why does rental insurance cover bicycle theft?

Does household insurance make sense for tenants?

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  • With household contents insurance, you can insure items that belong to you and are in your home against fire, lightning and overvoltage caused by thunderstorms, water, storms and hail. Burglary is also insured.
  • Household contents insurance covers personal property, such as clothing, electronic devices, furniture and the like. The household effects of all family members who live there are insured.
  • There is no compulsory insurance for tenants, the landlord may not require that you take out household insurance.
  • The household contents insurance insures damage up to a certain agreed amount, that is the sum insured. In the so-called underinsurance waiver, this sum insured is waived and the household insurance pays without any reductions.

The balcony door pushed in by the storm destroys the television. Burglars steal your laptop. A burst pipe will ruin your expensive wooden furniture. The Christmas tree with burning candles falls over and the expensive carpet goes up in flames. There are many scenarios in which your belongings can be at risk. And buying a new one can be really expensive.

For whom is home contents insurance useful?

Household contents insurance makes sense for everyone - regardless of whether you are a tenant or the owner of the property in which you live. Have you made a rough estimate of the total value of your clothes, electrical or electronic devices, furniture and curtains as well as furnishings? Experts estimate that that amounts to a total of 75,000 euros for families with children.

The apartment does not necessarily have to burn down completely for major damage to your household effects. A burst pipe, a summer storm or a burning Advent wreath are enough to cause enormous damage. Nobody is immune to robbery and burglary either, but they are financially protected with household insurance.

Owners should take out home insurance in addition to home insurance. Because then the building and the objects firmly attached to it are also secured in the event of damage from fire, lightning, tap water, storms and hail. Tenants, on the other hand, do not have to take out residential building protection.

Here is an overview of the most important differences between home contents insurance and homeowners insurance:

Household insurance

  • Useful for tenants and owners
  • Covers damage to household items caused by fire, thunderstorms, water, storms and hail
  • Costs that arise from robbery and burglary are also insured

Homeowners Insurance

  • Useful for every homeowner
  • Covers damage to the building caused by fire, tap water or burst pipes, storms and hail
  • Costs that arise from robbery and theft of building components are also insured

As a tenant, am I obliged to take out household insurance?

Household contents insurance is not compulsory. If you are a tenant and do not take out household contents insurance, you have to bear the costs of purchasing new damaged household goods yourself. A landlord cannot require the tenant to take out this insurance. If the obligation to do so is recorded in the rental agreement, for example, then this passage is void.

If you move, the contents insurance applies to the contents in your new apartment. Also in the event that you hand over your old apartment furnished to a new tenant. If you move into a second home temporarily and sublet your actual home for a limited period of time, the contents insurance covers the contents in the new home. Incidentally, during the move, SIGNAL IDUNA's contents insurance protects your belongings temporarily, in the premium tariff for two months in both apartments. Your belongings in your new apartment are then covered by household insurance - but not the household effects of the subtenant in your sublet apartment.

If you run two households and have a secondary residence, make sure that your insurance contract includes some form of mobile coverage. This means that your household effects are also insured in a second home. In most cases, such mobile coverage is limited in time. The SIGNAL IDUNA premium tariff includes them worldwide and for an unlimited period of time, up to 500 euros per square meter.

Home insurance for tenants: what about the bike?

Will be your bike stolen from your apartment or from the locked bicycle storage room, the contents insurance will cover the damage. If the theft takes place outside the apartment or the bicycle storage room, you are covered by the “bicycle theft” component offered by SIGNAL IDUNA as part of the household contents insurance. It is obvious that new and valuable bikes are at greater risk of being stolen. Accordingly, the “bicycle theft” component is particularly worthwhile in this case. The prerequisite for the insurance to compensate for the damage is that you must have locked the bike with a lock.

What should you do in the event of theft?

  • Take a photo of the location of the theft: the destroyed lock should be visible on the photo.
  • You must report the theft to the police immediately. You can file the complaint over the Internet.
  • In order for the insurance claim to be valid, you must show the notification from the insurance company.

Does the home contents insurance apply to the whole family?

The household contents insurance relates to the place of insurance, i.e. to the apartment named in the contract. The property of all family members who live there is also insured.

The more family members live under one roof, the more household effects accumulate: The stock of clothing or entertainment electronics grows. In the event of damage, the replacement of the damaged property quickly becomes really expensive. In this respect, household contents insurance makes sense and is particularly recommended for families. As soon as children start their own household during their training or studies and move out, they have to take out household contents insurance themselves, unlike in the case of liability insurance, and are no longer covered by their parents.

Why it makes sense to waive underinsurance and how the valuation works.

If your household effects are worth more than the sum insured previously, you are underinsured.

With SIGNAL IDUNA there is no more sum insured. You simply enter your living space and all your household items are automatically insured.

Insurance companies that specify a sum insured determine this value by multiplying the living space - i.e. the number of square meters - by a factor for the value, currently usually 650 euros. With 90 square meters that would be 58,500 euros.

How does the valuation work if you don't use this formula and there is no underinsurance waiver?

Then the customer states the value of his household effects and this value is taken as the sum insured. Valuation overviews are available to help, so that nothing is forgotten when adding up the individual values. With this method, readjustments must be made continuously if the actual value increases above the sum insured.

Conclusion: Household contents insurance makes sense and is not only worthwhile for tenants.

As a tenant, household insurance protects you from major financial damage if fire, thunderstorms, water, storms and hail destroy your household effects. Burglary and robbery are also insured.

Protect your belongings

Household contents insurance is worthwhile - not just for tenants. The SIGNAL IDUNA household contents protection even replaces your items in unlimited amounts.

Insure now

Damage to your property that is not permanently attached to the building is always covered. Objects such as washing machines, televisions, stereo systems or DVD players, but also items of clothing, carpets and dishes are included. Household contents insurance is therefore worthwhile - especially if you own expensive items or if you live together as a family and your household effects add up as a result.

SIGNAL IDUNA's household contents insurance replaces your belongings at replacement value - and in unlimited amounts. The protection can be adapted to your individual needs. B. Theft protection of your bicycles, the protection of your furniture glazing or the networked building services.

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