Inshared Contents Insurance
InShared is a relatively young online home contents insurer, founded in 2009 as a label of one of the largest Dutch insurance companies: Achmea. A unique aspect is that the home contents insurer pays out an annual bonus if there is any premium money left at the end of the year. This means that, depending on the number of insurance policies you have taken out with InShared, you have a good chance of getting some of your premium back. In addition to home contents insurance, you can also turn to InShared for liability or travel insurance, among other things.
The premium amount depends on your address, place of residence, household composition, date of birth, and home security. The number of square meters, the year of construction, and whether the home has a thatched roof are also considered. Finally, it is important whether you are a tenant or an owner. You can calculate the premium on the InShared website by entering your postcode and house number.
Below, you will find an indication of the premium amount. The calculation is based on a 20-year-old student renting an apartment in the city center of Utrecht.
| Type of Insurance | Premium |
|---|---|
| Standard coverage | From €9.06 per month |
| Complete coverage | From €11.04 per month |
Home contents insurance covers your movable belongings in your apartment or room, such as furniture, electronic devices, clothing, household appliances, or musical instruments. InShared’s home contents insurance guarantees against underinsurance, so you are always adequately insured for an unspecified total amount.
Standard Home Contents Insurance InShared
The basic coverage of the InShared home contents insurance ‘Standard’ offers compensation for damage caused by:
- Fire, lightning, or storm
- Burglary or theft
- Vandalism
- Smoke, oil, or soot damage
- Water (including precipitation) and steam damage
Maximum compensation applies for the following categories:
| Contents | Insured Amount |
|---|---|
| Audio, video, photo, and computer equipment | Up to €20,000 |
| Money | Up to €1,250 |
| Bicycles, lawnmowers, or other vehicles without registration requirement | Up to €15,000 |
| Jewelry | Up to €6,000 |
| Surfboards and sailboards, inflatable boats or canoes (non-motorized), and aircraft (under 25 kg) | Up to €5,000 |
| Parts and loose accessories of boats, aircraft, and vehicles | Up to €1,250 |
| Art, antiques, and collections | Up to €35,000 |
| Items in storage (garage, shed, or other storage space) and medical equipment | Up to €10,000 |
| Items in your garden or on your balcony | Up to €25,000 |
| Items in your car | Up to €750 |
| Items in your holiday home | Up to €7,500 |
Complete Coverage Home Contents Insurance InShared
If you opt for the ‘Complete’ (All-Risk) coverage, you are also insured for damage that you accidentally cause to your household effects through your own fault, for example, when accidentally dropping or knocking over items. Photo and film equipment, musical instruments, jewelry, and various sports equipment are also insured outside the home with ‘Complete’ coverage. This does not apply to your mobile electronics; you can take out the additional Mobile Electronics module described below.
Additional Coverage Home Contents Insurance InShared
The basic coverage of the InShared home contents insurance can be extended with the following additional coverages:
| Type of Insurance | Coverage Details |
|---|---|
| Glass | Compensation for damage caused by broken glass and plastic. Coverage for glass in windows, doors, skylights, shower cubicles, doors or walls, roof panels that let light through, and small hobby greenhouses. Coverage for special glass up to a maximum of €500 per event. |
| Owner-Tenant Interest | Improvements or extensions made by the tenant to the home, for example, a new kitchen, oak floor, painting or wallpapering, or installation of heating or air conditioning. Coverage up to a maximum of €35,000 per event. |
| Mobile Electronics | Coverage of mobile electronic equipment outside the home worldwide. Insured against damage caused by falling, bumping, or theft up to a maximum of €5,000 per claim. Such damage can be claimed a maximum of 2 times per year. |
| Liability | Damage that you accidentally cause to property or persons, reimbursed up to €1,500,000. |
New Value Payout
In the event of irreparable damage to your household effects, you will be reimbursed for the new value if these items are at most one year old. For this, it is important that you can prove when you purchased these items and that you have kept the receipt in a safe place. For items older than one year, you will also receive the new value unless, for example:
- These items are more than six years old or have already depreciated by 60%;
- They are items that have been rented;
- They are mobile electronics. In that case, you will receive the current value (calculated by depreciating 2.8% of the value each month);
- They are rare items, such as art collections.
If you are not eligible for reimbursement of the new value, InShared will then reimburse the current value plus 10%, or the rarity value (determined by an expert).
What Is Not Insured?
In which cases is damage to your household effects not insured? Below, you will find an overview:
- You have accidentally caused damage to your household effects through your own fault (if you have taken out Complete coverage, this is insured);
- Damage due to wear and tear (with regular use);
- Manufacturing defects;
- Overdue or poorly performed maintenance;
- Errors during assembly or installation;
- Theft (or attempted theft) outside your home without any signs of a break-in;
- Losing your belongings;
- Damage to your household effects by leaving doors, windows, shutters, or skylights open.
For a complete list of exclusions, you can consult the InShared home contents insurance policy conditions.
Deductible
A standard deductible of €150 applies. You must pay the first €150 of a claim out of your pocket. However, you can also choose to have a deductible of €0, in which case you will pay a higher monthly premium.
