Go Back   English Forum Switzerland > Help & tips > Insurance  
Reply
 
Thread Tools Display Modes
  #1  
Old 12.10.2014, 23:06
osm osm is offline
Newbie
 
Join Date: Jul 2010
Location: ZH
Posts: 7
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
osm has no particular reputation at present
Household insurance: compensation limit automatic adjusted?

Dear all,

I'm having trouble understanding my household insurance contract (in German). I hope I can get some help from this forum.

Does anyone have this clause in their household insurance:

"Hausrat zu Hause gegen Feuer, Diebstahl und Wasser Versicherungssumme mit automatischer Anpassung an den Hausratindex" ?

Using google translate, I understand the bold part as "the automatic adjustment of the compensation limit for the household insurance".

1. But what does it really mean?

2. Does it mean that your compensation limit will be automatically reduced every year and you will just have to accept this gradual reduction until the end of your multi-year contract term because it is already in your original contract?

3. If you have this clause in your contract, has your compensation limit been adjusted/reduced through the years?

Thanks a lot for your help!
Osmi
Reply With Quote
  #2  
Old 13.10.2014, 13:07
osm osm is offline
Newbie
 
Join Date: Jul 2010
Location: ZH
Posts: 7
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
osm has no particular reputation at present
Re: Household insurance: compensation limit automatic adjusted?

My insurance company said that the compensation limit of my household insurance is reduced automatically because the household items are depreciated with time. Although they did not reduce the limit in my 2nd year, they decreased the limit and increased the premium for the 3rd year. Now for the 4th year they decreased the limit again.

To me that's strange. What if I have bought new household items and the value of my jewelry increases with time?

So, I'm asking the questions in my first post to understand if this automatic reduction of the compensation limit for household insurance is a normal thing with all insurance companies, or if this is unique to this particular company, which wants to take advantage of people who don't understand German and are inexperienced in insurance policies.

Your thoughts and replies are very much appreciated.
Reply With Quote
  #3  
Old 13.10.2014, 13:34
Village Idiot's Avatar
Forum Legend
 
Join Date: Jul 2009
Location: Basel
Posts: 3,683
Groaned at 35 Times in 32 Posts
Thanked 6,933 Times in 2,239 Posts
Village Idiot has a reputation beyond reputeVillage Idiot has a reputation beyond reputeVillage Idiot has a reputation beyond reputeVillage Idiot has a reputation beyond reputeVillage Idiot has a reputation beyond reputeVillage Idiot has a reputation beyond repute
Re: Household insurance: compensation limit automatic adjusted?

My understanding is that this is the normal treatment unless you opt for a new-for-old policy. If it worries you, look into a policy that specifies that it will reimburse on a new-for-old basis. When we took out insurance, we found that opting for new-for-old didn't increase the premium very much.
Reply With Quote
  #4  
Old 13.10.2014, 13:55
osm osm is offline
Newbie
 
Join Date: Jul 2010
Location: ZH
Posts: 7
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
osm has no particular reputation at present
Re: Household insurance: compensation limit automatic adjusted?

Quote:
View Post
My understanding is that this is the normal treatment unless you opt for a new-for-old policy. If it worries you, look into a policy that specifies that it will reimburse on a new-for-old basis. When we took out insurance, we found that opting for new-for-old didn't increase the premium very much.
Thank you for your reply.

My policy states that the household contents are insured at replacement value (I guess this is equivalent to your "new-for-old policy").

But I think this is different from the sum of compensation. The way I understand my policy is that even if the household contents are replaced at the new values, the sum compensation will be capped at the new lower value.

In your case, your premium increases yearly but your compensation sum stays the same?
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Obligatory household insurance??? Marion87 Insurance 11 27.01.2014 19:14
household insurance robesteva Insurance 12 07.12.2010 20:32
Accidental household insurance. Upthehatters2008 Other/general 3 26.10.2010 19:50
Household Insurance B.Humble Housing in general 3 22.08.2008 18:53


All times are GMT +2. The time now is 02:36.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0