Home insurance: how do you determine the value of your home's contents?
Sofa, TV, clothes, computer, jewelry, bikes, tools… If you had to replace everything in your home tomorrow, would you know how much it would cost? €20,000? €50,000? €100,000?
It’s hard to answer without doing the math. Yet this estimate is important for your home insurance. In the event of water damage, fire, or burglary, the amount of compensation you receive depends directly on the value you’ve declared for the contents of your home.
An underestimated value can therefore result in insufficient compensation compared to the actual losses incurred.
So, let’s do the test. Go through your home room by room and try to estimate how much it would cost to replace everything you own.
The living room: start by adding it all up
Look around you.
Sofa, armchairs, table, TV, soundbar, game console, lighting fixtures, rugs, curtains, decor, books… Taken individually, these items don’t always seem to be worth much. But when you add them all up, they can quickly total several thousand euros.
Also consider less common items: works of art, musical instruments, collectibles, or technological equipment.
The first pitfall when assessing your household contents is precisely to focus only on the most expensive items. However, it’s the accumulation of all your everyday possessions that makes the difference.
Your wardrobe: how much does it really cost?
This is probably one of the hardest categories to estimate.
How many coats, jackets, pants, dresses, sweaters, shirts, or pairs of shoes do you have? Add in bags, glasses, and other accessories.
Rather than immediately trying to come up with a total amount, estimate the number of items you own and their average price. The result may be surprising, especially for a family.
Don’t forget jewelry and watches, either. For valuable items, it’s a good idea to keep receipts and, if possible, dated photographs that can serve as proof in the event of a claim.
The kids’ room: small purchases add up
Furniture, clothes, shoes, toys, books, board games, school supplies… A child’s room is constantly changing.
As children grow up, they sometimes add a smartphone, a tablet, a computer, a game console, headphones, or sports equipment.
A birthday gift here, new school supplies there: these purchases are made gradually, and their cumulative value can easily go unnoticed.
With several children, the total can quickly add up.
The office: technology weighs heavily in the balance
Computers, monitors, tablets, printers, smartphones, headsets, webcams, computer equipment…
Today, technological devices play a significant role in our homes and can account for a substantial portion of their contents.
At Foyer, the mozaïk home insurance policy specifically covers this modern equipment through the “Portable Property” and “Technological Property” coverages, which may include home automation devices and computer equipment.
If you work from home, however, be sure to distinguish between your personal equipment and that which belongs to your employer.
Garage, basement, attic: have you thought of everything?
These are often the most overlooked areas when taking inventory.
Bicycles, sports equipment, DIY tools, gardening supplies, recreational gear… Take a look around these spaces and ask yourself how much it would cost to replace their contents.
Do the same in the basement. A wine cellar built up over time, for example, can be worth a significant amount without you even realizing it.
And if you own works of art, collections, jewelry, or musical instruments, their value deserves special attention. At Foyer, the “Art & Passion” coverage specifically protects certain exceptional items against breakage, theft, or damage occurring during transport.
Now do the math
Have you finished going through your home?
Before you grab your calculator, make sure you haven’t forgotten anything. Some everyday items can easily slip under the radar: the refrigerator, freezer, coffee maker, food processor, and other appliances, as well as dishes, glasses, pots, pans, silverware, and kitchen utensils. Taken individually, they may seem insignificant. However, having to replace them all at once can add up to a significant amount.
Now add up your estimates. Is the result close to the amount you spontaneously had in mind at the beginning of this article?
To make this exercise more reliable, three habits are particularly useful:
take inventory room by room, without forgetting the garage, attic, and outbuildings;
keep important receipts and, if possible, take dated photos of your belongings;
think in terms of replacement value rather than resale value on the secondhand market.
Of course, you don’t need to list every plate, every fork, or every pair of socks. The goal is to get a realistic estimate of the total value of all your possessions.
€60,000 declared for €120,000 in property: what’s the problem?
Let’s look at a simple example.
You’ve declared €60,000 in contents, even though the actual value of your property is €120,000.
In the event of a total loss, you’ll only be compensated based on the €60,000 you declared.
An underestimation therefore directly reduces the level of coverage you receive. That’s why it’s important for the declared amount to match the actual value of your property as closely as possible.
Your coverage evolves with your life
The assessment you just completed is not valid indefinitely.
New equipment, furniture, tech devices, smart home devices, the birth of a child, a move, a wedding, or a renovation: over the years, your home fills up and its value changes.
It’s recommended that you review your contents valuation every two to three years, as well as after a major life change or the purchase of valuable items.
At Foyer, your policy can be adjusted to reflect changes in the actual value of your belongings.
So, how much are the things in your home actually worth?
We usually know the price of our car, our home, or our latest smartphone. But we’re much less likely to know the total value of everything we own.
Yet, sofa by sofa, piece of clothing by piece of clothing, and device by device, the total can add up to much more than you might imagine.
Try this at home: walk through each room and estimate how much it would cost to replace all your belongings.
Does your estimate exceed the amount listed in your policy, or has your situation changed significantly since you took out the policy? Contact your Foyer Lux-Assurances agent to make sure your home insurance and the value of your contents still reflect your current situation.
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