What are the contents of an insurance policy?
The concept of contents varies depending on whether it is a dwelling, an office, a shop or a company (SME). This difference depends on the objects specific to each type of insured property.
For example, objects or tools used for professional or commercial purposes are not considered as contents of a dwelling. However, some insurances may provide for exceptions if the dwelling remains the habitual residence of the insured. In such a case, this should be reflected in the general or particular conditions of the contract.
We therefore recommend that you carefully review your policy documentation and consider both the type of insurance and the nature of the property you wish to insure.
Content in dwellings
In a dwelling, the usual contents include:
- Home furnishings.
- Household linen (curtains) and personal linen (clothes).
- Tools and materials for repairs, DIY or electronics.
- Computers and IT equipment.
- Household appliances, decorative objects, lamps and wall lights, even if they are fixed.
- Food and provisions for the use of the insured and his family.
They may also include:
- Jewellery and objects of special value, which may require express declaration if they exceed certain values.
- Works of art, antiques, unique pieces, handcrafted objects, gold or silver cutlery, furs, numismatic or philatelic collections, among others.
The exact definition will always depend on what is stated in the general conditions of the insurance policy taken out.
Content in shops and offices
The contents of a shop or office vary depending on the activity carried out. In many cases, insurers require differentiation between:
- Machinery.
- Furniture.
- Stocks or goods.
- Third-party goods (e.g. in dry cleaners, workshops, technical services, etc.).
In the case of a mixed trade, it is essential to declare the higher risk activity (i.e. the one with the higher tariff). For example, in a trade with 50% toys and 50% household appliances, at least this second activity should be reflected in the particular conditions.
Some insurers allow the declaration of main and secondary activities. This should be made clear in the contract to avoid problems in the event of a claim.
As an example, in a restaurant the content could be broken down as follows:
- Machinery: refrigerators, freezers, display cabinets, coffee machines, irons, grinders, toasters, dishwashers, fryers, etc.
- Furniture: tables, chairs, pictures, lamps, curtains, curtains, trousseau, etc.
- Commodities: food and beverages.
We always recommend professional advice. In this respect, an insurance broker offers independence, training and experience to guide you correctly.
Content in companies and SMEs
In the case of companies or factories, the content will also depend on the activity, and should be differentiated between:
- Machinery used for production or storage.
- General furnishings.
- Stocks or raw materials needed to manufacture or store products.
Business policies tend to be more complex than commercial policies. The main difference is that here products are manufactured or stored, which requires a more detailed valuation. However, the content scheme follows a similar logic to that of commercial.