Below is all the information you need regarding your insurance

What is home contents insurance?

Home contents insurance covers damage to your belongings due to fire, theft, or water and weather damage. This protection means home contents insurance covers your things and valuables at home. It applies, for example, to your bike, furniture, and electronics.

In addition to covering your belongings, home contents insurance includes liability coverage if you accidentally hurt other people or their animals or damage their property.

This coverage applies, for example, if you step out in front of a cyclist who falls over and damages his bike or spills coffee on an expensive chair.

Here are some examples of what home contents insurance can cover:

• Furniture
• Flat screens
• Computers
• Bikes
• Clothing
• Money
• Jewellery
• Sporting goods
• Phones
• Cookware
• Art
• Paintings

At IDA Forsikring, you can add several optional add-ons for home contents insurance via My Page. Among other things, you can add extended electronic coverage, extended bicycle damage, and coverage for accidents caused in one's home.

As a student, you can get free home contents insurance. You can read more about that here.

How does home contents insurance work?

The insurance policy covers the policyholder, their spouse/partner, children, and any other individuals listed at the policyholder's official address. Different rules apply if you have student home contents insurance.

Home contents insurance also covers the theft of belongings from your tent, for example, at a festival. However, the items mustn't be visible from the outside. Please note that the insurance does not cover money and jewellery.

The insurance covers your child's possessions while at boarding school, similar to if the child were living at home. The child must have a registered address with you to be eligible for this coverage.

Am I covered for the festival?

The home contents insurance covers theft of your clothes, mobile phone, sound box, sleeping bag, ordinary bags, and other belongings inside the tent if they cannot be seen from the outside. Please note that lost, misplaced, abandoned, and forgotten items are not covered. Your excess varies depending on your insurance. If you have our free Student Home Contents Insurance, there is a compulsory excess of DKK 1,000. 

It is a requirement that the valuables cannot be seen from the outside. Money and jewellery are not covered.

The landlord must have insurance

If you sublet your apartment, the landlord must have home contents insurance.  

Rental via agency

Suppose you decide to sublet your apartment through Airbnb or other rental platforms. In that case, it's essential to understand that your home contents insurance only protects your belongings in the event of a fire or burglary. 

If the guest damages something or steals your possessions, you won't receive compensation unless you have opted for the additional coverages "rental," "accident," and "extended electronics."

Do you rent a room out to a roommate?

If you have student insurance and rent a room, the policy will also cover your roommate. Please note that, as mentioned above, this only applies if you have a student insurance policy.

If you have regular Home Contents Insurance and rent a room, the tenant must have insurance herself.

How does the liability coverage work?

Liability coverage is a standard part of home contents insurance. It covers you if you accidentally hurt other people or damage their things. If you do not have home contents insurance, you must pay for the damage you accidentally cause to others or their things.

How does legal aid cover?

Your home contents insurance includes legal aid, which covers conflict mediation. Legal assistance may be necessary if you and the other party cannot reach an agreement and must resolve the dispute in court.

Legal expenses insurance covers the costs of court proceedings. However, it's important to note that the insurance does not cover all areas.

How much is my sum insured?

Your IDA Home Contents Insurance does not require you to specify a sum insured with limits. This feature means you do not have to determine the value of your belongings.

Your items are generally covered up to DKK 60,000 per item. Suppose you have individual household items valued at more than DKK 60,000 which do not fall under the collections or groups of items listed below. In that case, you will need to purchase additional coverage.

If you have collections worth more than DKK 120,000, designer furniture worth more than DKK 120,000, or watches, jewellery, gold, or silver worth more than DKK 120,000, you must buy more insurance cover.

These may include:

• Collections (e.g. stamp collections, coins, sculptures or similar)
• Designer furniture (refer to the list below)
• Watches, jewellery, gold, or silver

Design furniture

Here is the revised list:

• Poul Henningsen - for example, the cone or PH lamps
• Arne Jacobsen - for example, the Swan, the Egg, or the 7
• Piet Hein - for instance, the Ellipse Table
• Hans J. Wegner - for example, the Wishbone Chair, the Oxchair, or the China Chair
• Verner Panton - for example, the VP Globe lamp
• Charles & Ray Eames - for example, the Eames RAR Rocking Chair or the Eames Lounge Chair
• Bruno Mathsson - for instance, Pernilla or Eva
• Poul Kjærholm - for example, PK 22 chairs
• Børge Mogensen - for example, The Spanish Chair
• Poul M. Volther - for example, Corona chairs

The insurance covers a maximum of:

• Money and similar items are covered up to DKK 30,000.
• Each bicycle is covered up to DKK 15,000 (this amount can be increased to DKK 170,000).
• Baggage is covered up to DKK 50,000 per claim if the coverage is optional.
• Belongings in the basement are covered up to DKK 90,000 per claim (this amount can be increased to DKK 180,000 per damage in the case of "extended basement coverage").

Do I get a discount if I have an alarm? 

You can reduce the risk of theft and burglary if you have an approved burglar alarm connected to an alarm centre or an approved local alarm. If the alarm was purchased before August 23, 2021, you are also eligible for a discount on your home contents insurance.

If you purchased home insurance before August 23, 2021, and have an approved alarm, call or write to us, and we will update the price.

It is essential always to remember to activate the alarm when you leave the house.

Does replacement occur according to the value of a new item or the actual value of a similar item?

We determine an item's replacement value based on its current replacement cost. The actual value is calculated by subtracting depreciation (due to age and wear and tear) from the purchase price.

Compensation is calculated using a depreciation table for items such as bicycles, electrical appliances, IT equipment, clothing, shoes, bags, purses, suitcases, baby and children's equipment, hearing aids, and glasses/sunglasses.

For instance, if you need compensation for a four-year-old bike, you will receive less than the new price. The compensation amount is reduced by a specific percentage based on the age of the item.

Does the insurance cover if I drop a glass of water on my computer?

Rest assured, if you have chosen the 'extended electronics' option for your home contents insurance, you will be covered for incidents like dropping a glass of water on your computer. You must pay the insurance excess you have chosen, which you can opt into on My Page.

Does the insurance cover damaged luggage from the flight?

Before August 23, 2021, your home contents insurance automatically included luggage coverage up to DKK 50,000 for 90 days. This coverage also applies to your liability coverage, which is valid worldwide for the same duration. If you require more than 90 days of coverage, switch to our new home contents insurance.

For new home contents insurance purchased after August 23, 2021, you can select luggage coverage if you only have home contents insurance and not travel insurance through IDA. If you have student insurance, luggage coverage is not an option, and you must purchase travel insurance separately.

If you purchased new travel insurance through IDA after June 1, 2022, your luggage coverage is included but cannot be added to your home contents insurance.

Contact us if you need help

Insurance can be complex, and you may have unanswered questions. Please don't hesitate to contact us at 70 21 01 91. We're here to help and ensure you have the right coverage for your needs.

Remember to review and update your insurance and optional add-ons on My Page.