Home insurance and valuables: the blind spots in your policy

Most of us sign our home insurance policy once and never look at it again. We assume that, whatever happens, "it's covered." And for most of your furniture, that's true. But the moment it comes to valuables — a watch, family jewellery, a painting, a collector's piece — the reality of the contract is often more nuanced than the sense of security it gives you.

Understanding these nuances is nothing to worry about. It's simply what it takes for your cover to truly match what you own. Here are the three most common blind spots.

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1. The per-category limit: a cap many people overlook

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Most home policies don't just separate everyday furniture from valuables — they often set a limit per category. Jewellery is the clearest example.

In practice, even if your contents are insured for €75,000, the payout for your jewellery may be capped at a specific amount — frequently around €5,000, or a percentage of the contents value, for the entire category, regardless of the number of pieces. A wedding ring, an inherited watch and two or three other rings, and that ceiling is already exceeded. Beyond it, the difference is yours to bear — even if the overall limit on your contents was nowhere near being reached.

Artworks, watches and collectibles may be subject to their own separate limits of the same kind. The good news: these caps can almost always be raised, piece by piece or category by category, as long as the items are declared.

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2. Underinsurance: the proportional rule trap

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This is the costliest blind spot, and the least understood. If the real value of your belongings is higher than the value declared in your policy, the insurer can apply the proportional rule. In the event of a claim, your payout is then reduced in the same proportion as the gap.

A concrete example: you declared contents worth €50,000, but an assessment after a loss establishes that your belongings were actually worth €100,000. You are insured for half. On €20,000 of damage, you receive only €10,000 — even when the category limit was not the issue. Underinsurance never shows until there is a claim, which is precisely what makes it so dangerous.

In Belgium, there is fortunately a safeguard: if you correctly complete the evaluation grid provided by your insurer, the insurer waives the proportional rule. That's real protection — provided the grid is filled in accurately and kept up to date. It covers your contents broadly, though: your valuables remain subject to their category limits and must be declared separately.

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3. Exclusions and conditions: the devil is in the details

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The third grey area is the conditions under which cover actually applies. A few common examples:

Theft is often only compensated if there is clear forced entry — theft without break-in, or an item left in plain sight, frequently falls under an exclusion. Above a certain value, the insurer may require specific security measures: an alarm, a safe meeting a particular standard. Items taken outside the home — the watch you wear when travelling, the piece of jewellery worn to an event — sometimes fall under a separate cover, or aren't covered at all. Finally, compensation may account for depreciation rather than replacement value, unless an agreed value was set in advance with the insurer, usually on the basis of an appraisal.

None of these clauses is a trap laid in bad faith. They are normal conditions — but they assume you know them before a loss, not after.

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‍What these three blind spots have in common: proof

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Limits, underinsurance, exclusions: in all three cases, everything is decided at the moment of the claim, and everything rests on your ability to prove what you owned, its value and its condition. And that is exactly what is most often missing. After a fire or a burglary, few people have an up-to-date list, photos, invoices and certificates gathered in one place. Without them, the conversation with the insurer starts at a disadvantage.

This is also where the real lever lies: a well-sized policy depends on a reliable inventory beforehand.

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What you can do, calmly

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Start with what matters most: make an inventory of your valuables, with proof to support it. For each piece, gather a description, photos, invoices and certificates, the serial number and its location, and keep everything in one accessible, lasting place. This is the foundation that changes everything — without it, neither you nor your insurer can reason on anything concrete.

Once you have that inventory in hand, compare it with your policy. Identify the limits applied to each category — jewellery, watches, artworks — and weigh them against the real value of what you own in each. If the gap is significant, talk to your broker or insurer: raising a limit or opting for an agreed value is simple to arrange. For important pieces, an appraisal gives you a solid basis.

This is exactly what Objectory was designed for: bringing together, for each of your valuables, its description, photos and supporting documents in a single secure place. And thanks to its dashboards, you keep an overview of your estate — broken down by category (jewellery, watches, artworks), by location or by value. Precisely the view you need to compare your cover, category by category, against what you actually own. The day you need it — to adjust your cover, or to support a claim — everything is ready, right at hand.

Your insurance only protects you well if it knows the real value of what you entrust to it. Taking stock today, calmly, is always better than discovering it the day it's too late.

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