The right household contents insurance: protection against the financial consequences of burglary

The right household contents insurance: protection against the financial consequences of burglary

According to a report by www.lifepr.de, the burglary season begins in Germany in autumn. Household contents insurance protects against the financial consequences of a home break-in. Last year there was an above-average number of burglaries in Saarland, but the household contents are still from Saarlandoften insured below average. A similar trend can be seen in Saxony-Anhalt. In contrast, consumers protectfrom Bremen their household goods more often than the national average. Break-ins were the least common in Bavaria and household contents are also insured below average there.

Household contents insurance reimburses the replacement value of stolen and damaged items. The amount of the insurance sum is decisive for the reimbursement of the damage. Consumers can calculate the value of their household goods individually or with a lump sum. Many providers also cover the costs of replacing the locks and repairing damage to the building. High-performance household contents insurance is available from just 17 euros per year and covers damage caused by burglary and vandalism.

The impact of this information on the market is diverse. An increase in demand for household contents insurance could be observed in federal states with an above-average number of burglaries and a low density of household contents insurance. This could lead to a market shift in the insurance industry, with demand increasing in some regions and decreasing in others. Additionally, insurance companies in regions with low home insurance coverage could increase marketing efforts to promote their products and encourage consumers to insure their home contents.

The fact that high-performance home contents insurance is available from just 17 euros per year could also influence consumer decisions and lead to an increase in insurance take-outs. This, in turn, could lead to increased competition in the industry and reduce overall home insurance prices.

Overall, the data shows that demand for home contents insurance depends heavily on regional burglary rates and insurance densities. The powerful yet cost-effective nature of some insurance products could increase insurance coverage in some regions while maintaining low insurance underwriting trends in other regions.