Date: 15.03.2012 How are the sums insured calculated, or how can I avoid being underinsured?
The contractually agreed sum insured should correspond to the replacement value of the existing home contents.
It is your choice whether to specify the sum insured yourself (in which case it is advisable to use a value calculation form) or to calculate the value based on square metres of living space (e.g. living space X sum insured = 90 sqm X e.g. € 650 = sum insured of € 58,500). When calculating the sum insured on a square metre basis, the home contents insurer will normally waive an underinsurance review following an insurance claim.
