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Mastering home contents insurance

Let’s be honest. There are more fun topics than home insurance. Taking out insurance is probably not high on your bucket list. It’s one of those things that you keep putting off when you know it’s wiser to just sort it out.

In addition to liability insurance, home contents insurance is one of the most important insurance policies that everyone should have.

What exactly is home contents insurance?

You start with some flea market stuff, but after a while, you end up with quite a few things that together are probably worth more than you think. Contents insurance protects exactly these items against damage. 

Quite simply, everything you can pick up and take with you when you move falls under your household effects. 

Just to be clear: home contents insurance ensures the items that you normally keep at home (i.e., your household effects) and those that are yours. Lemonade insurance protects you at home but also when you travel anywhere in the world (for a maximum of 3 months). 

Difference between home contents and home insurance

The coverage of home and contents AT&T insurance is sometimes confused. Does the parquet now fall under the household effects or the building? Take a deep breath because the difference isn’t that complicated at all. 

And to answer the question about the parquet – if you lay it loose, it belongs to your household effects. But if the parquet or laminate is glued, it falls under the building. The reason for this is that in this situation, you can no longer remove it without damaging it. And while we’re talking about floors… 

Do I need this insurance?

In contrast to third-party insurance for your car, you are not obliged to take out household contents or liability insurance in the Netherlands. That’s not to say it isn’t a wise thing to do. That is why most Dutch people still take out these two insurance policies. If, for example, fire or water damage occurs in your home, or if there is a break-in, you have something to fall back on.

An example to make this even clearer: 

It is precisely for these kinds of situations that you should have this insurance.

Which items are insured exactly?

Contents insurance insures items against damage that are normally kept in your home and in your possession. If damage occurs, a home insurance policy will pay for the repair or replacement value of your items. Lemonade will not pay you less because your damaged item has been used. Some examples of items covered by your home insurance policy:

  • Jewelry (watches, engagement rings, necklaces, etc.)
  • Clothing and accessories (such as handbags)
  • Furniture (furniture, carpets, etc.)
  • Bicycles
  • Musical equipment
  • Cameras
  • Electronic devices (TV, laptops,  Mobile ,etc.)

Tip: Lemonade’s standard policy automatically covers items up to a value of €5,000 each. If you are in possession of valuable items such as a super-light carbon road bike or an SLR camera that cost more than €5,000 each, you can easily add it to your policy. That way you only pay for the things you actually own.

What you need:

  • A photo of each item
  • An invoice or receipt

Don’t worry if you don’t have this to hand right now! After taking out your Lemonade policy you have temporary coverage (2 weeks!) for these items. So you have plenty of time to figure this out in peace and then submit.

When does my home contents insurance cover?

This insurance does not only provide cover for damage, but also for when you suddenly find yourself in a difficult situation:

Living

costs Some household insurance companies temporarily cover increased living costs. You’ll need this if your house becomes uninhabitable and you need to find shelter elsewhere (hopefully never!). An example: suppose you have to live somewhere else temporarily because a fire has started due to a short circuit. In such a case you need a hotel or Airbnb. Home insurance helps to cover these costs! Some insurers even pay extra costs for, for example, food or parking costs.

Lemonade covers the following:

  • fire and smoke
  • Explosions
  • Burglary, robbery and vandalism
  • Storm and hail
  • Water damage caused by burst/blocked pipes or leaking appliances (e.g. your washing machine).

Add-ons – extra protection

Anti-theft package

At Lemonade you can tailor your insurance to your personal needs. If you want your beloved bicycle or laptop to be insured against theft, you can add the anti-theft package to your insurance (from €3 per month). 

The deductible

As with other insurance policies (such as health insurance), you also have the option of opting for an excess with this insurance policy. This is an amount that you have to pay yourself in the event of damage. You can choose this amount when taking out your policy .

Suppose you bought an $800 iPhone that is stolen during a break-in. You have chosen a deductible of € 200, so your home contents insurer will refund you € 600. Because: value of the item – deductible = amount paid out.

At Lemonade you therefore have the choice to opt for a deductible of € 0 to € 1,000. Please note that in most cases the following applies: the higher the deductible you have chosen, the more discount you will receive on your monthly insurance premium. This also works the other way around – if you choose a low (or no) deductible, your premium will usually be higher. 

What is not insured?

It is annoying if you do not know exactly what is or is not covered by your policy. And especially if you expect something to be covered but in the end this is not the case. To save you these annoyances, here’s a rundown of all the things that aren’t covered by your coverage: 

  • Cash and firearms.
  • Items that are mainly used for your company or profession.
  • Items that you have voluntarily lent to someone else or that are not yours.
  • Items that are illegally in your possession.
  • Items usually covered by other insurance policies such as motor vehicle, pet, boat, travel, or professional liability insurance. 
  • Damage you have caused intentionally.

Disclaimer: every insurer is different and has its own conditions. Therefore, always read the policy conditions carefully or contact your insurer to understand exactly what is and is not covered.

How do I take out home contents insurance ?

Imagine that you throw everything in your home out the window: furniture, carpets, clothes, electrical appliances, bicycles, musical instruments, etc. 

Many insurers determine how much coverage you need based on the square footage in your home – so the bigger your home, the higher the amount. Today there are all kinds of different lifestyles and this means that a minimalist needs a much lower coverage than an “Early Adopter” who lives in an apartment of the same size and has all the new gadgets and technology in his home. 

If your lifestyle changes and you want to adapt your policy to your new needs, no worries! With Lemonade’s Live Policy you can update your coverages right in your app – wherever you are, with just a few clicks.

Insured with Lemonade in seconds

In many cases, buying insurance is a headache and requires a lot of paperwork and time to file a claim . It is precisely for this reason that we have made Lemonade insurance simple, fast and uncomplicated. Answer a few questions and you will receive a personalized quote in less than two minutes . Then, before taking out the policy, you can edit your quote and tailor your coverages to your needs. 

Tip: You can adapt your coverages to your individual needs.You can remove this insurance by setting the cover to zero or increasing it by clicking the plus button.

Who is insured?

If you want to add family members or a partner after taking out your policy, this is of course also possible. They will help you and make the necessary changes. This may sound a bit complicated, but as we said, this will just help you and it only takes a few minutes.

Cancel home insurance

Most insurers allow you to cancel this insurance after one year. Canceling is very easy via the app. Then we will create a new policy for you. Keep in mind that our prices change from time to time, so your new policy may have a different premium.

This is how you cancel your policy:

1) Open the Lemonade app

2) Click on the policy you want to cancel 

3) At the top right you see three dots. Click on this and here you will see the “cancel policy” button.

4) Our chatbot, AI Maya, will ask you a few questions and cancel the policy with you.

You make the difference – the Lemonade Giveback

Lemonade is an insurance company designed for the 21st century. That’s why Lemonade Inc. a Public Benefit Corporation and certified B-Corp . 

Traditionally, insurance companies make money by rejecting claims. Every euro spent on claims is one euro less in profit.

Lemonade works differently. Because we take a fixed percentage of the premium and use the rest to pay claims, we never end up in a situation where we are in conflict with our customers. 

Your unused premium goes to a good cause, but this does not mean that you pay extra for this. It’s simply due to good behavior – your unclaimed dollars will make a difference to someone else in this world. How beautiful is that?!

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