What about deductibles with contents insurance?

Do you have deductibles with household contents insurance?

With most insurers, you have a choice in this regard. The higher the deductible you choose, the lower the insurance premium will be (so you get a discount). This is because with a higher deductible, the insurer has to pay you less in the event of a claim.

There are insurers that always require a deductible. Often this is not a high amount. The idea behind this is that it creates a barrier for claiming every small damage on the contents insurance. After all, every claim means administrative work for the insurer, even the small claims. This costs the insurer a lot of time and ultimately money.

In addition, insurers hope you will be and become extra thrifty with your belongings by establishing a mandatory deductible.
Insurers may set a different deductible for certain claims. In practice, this occurs in cases such as theft/burglary (especially in large cities) and storms.

When applying for contents insurance, we will discuss with you what the deductible is for this particular insurer. In addition, the amount of the deductible can always be found on your policy schedule and in the policy conditions.

Are there household insurance policies with no deductible?

There are insurers who offer you the option of purchasing contents insurance without a deductible. The amount of the deductible always affects the premium.

Is it wise to choose a high deductible with household contents insurance?

Whether it is wise to choose a deductible with household contents insurance always depends on your personal and financial situation. A high deductible is not sensible or unwise by default. What you will have to think about is whether you can easily take this deductible for your own account in case of damage, for example several times a year. To what extent is this feasible for you and does it outweigh the premium discount you get with this higher deductible? All of this can determine the cost of contents insurance.