# Art and valuables insurance in Germany: beyond the limits of contents cover > German contents insurance (Hausrat) covers jewellery, watches, paintings and collections only up to a limit and only against a short list of perils. A separate fine art or valuables policy covers every risk that is not excluded, at a value agreed in advance and often away from home too. If you have moved to Germany with a collection or inherited valuable pieces, this is usually the cover that fits. Quelle/Source: https://www.nammert.com/en/insurance-broker-art-valuables-insurance.php Updated: 2026-11-03 ## Does German contents insurance cover jewellery and art? Only up to a point. Hausrat policies cap valuables at a share of the sum insured, often one fifth, and set much lower limits for jewellery and cash kept outside a certified safe. They also pay only for named perils such as fire, water from pipes, burglary and storm, not when a painting falls while being hung or a ring is lost. If your valuables exceed those limits, a separate art or valuables policy is the better home for them. ## At a glance - **Compulsory?:** No, it is voluntary - **Type of cover:** all risks: everything is covered unless excluded - **Insured value:** agreed value (Taxe) under § 76 VVG, usually based on a valuation - **Hausrat for comparison:** valuables only up to a limit, often one fifth of the sum insured - **Away from home:** valuables policies cover jewellery and watches you wear, often worldwide ## Where German contents cover stops for valuables Hausrat treats jewellery, watches, precious metals, coins, stamps, works of art and antiques as a separate group called Wertsachen. That group has its own payout limit, which is only part of the overall sum insured. For jewellery and cash outside a recognised safe the limits are lower still, and many newcomers only find this out after a burglary. Hausrat also works on named perils. A painting that slips off its hook, a vase knocked over by a cleaner or a ring that slides off at the beach is not an insured event under it. For collectors and people who wear valuable jewellery, these are exactly the losses that happen most often. ## All risks at an agreed value: what a separate policy changes A fine art or valuables policy turns the principle round. Any damage, destruction or loss is covered unless an exclusion applies. The usual exclusions are wear and tear, gradual effects of light, heat or humidity, pests, damage during restoration or cleaning, war and confiscation. Instead of a replacement price argued over after a loss, each item is insured at a value agreed when the policy starts. German law calls this a Taxe (§ 76 VVG), and it is normally based on a valuation, an invoice or an auction estimate. The agreed value has to be updated when prices rise, otherwise the payout stays at the old figure. ## Pairs, sets and loss of value For collections and matching items the loss is often larger than the missing piece. When one earring, one volume of an edition or one chair of a set is gone, the whole group is worth less. Good wordings include a pair and set clause that pays for this. Even a skilful restoration often leaves a work worth less than before. Whether that depreciation is paid differs between policies. For important collections a buy back right matters too: if a stolen piece turns up after the claim is paid, you can have it back by repaying the settlement. ## Safes, alarms and an inventory in English and German Insurers tie higher values to security. Above a certain amount they require a certified safe with a matching resistance grade for jewellery and watches, and an intruder alarm for larger collections. These requirements are obligations (Obliegenheiten) in the contract, and breaching them can reduce what the insurer pays. Keep an up to date inventory with photos, dimensions, signatures, invoices and valuations, and store a copy somewhere else. Documents from your home country are usually accepted, but a short German summary of the key items makes both the underwriting and any police report easier. ## What is covered - Theft, burglary and robbery, depending on the policy also without forced entry - Breakage and accidental damage, such as a fall or a knock - Fire, water from pipes, storm and hail - Loss of jewellery and watches, if agreed - Jewellery and watches worn away from home, depending on territory - Transit and exhibitions nail to nail, if agreed - Depreciation after restoration and pair or set loss in strong policies ## What is not covered - Wear and tear, ageing and gradual effects of light, heat or humidity - Damage during cleaning, framing or restoration, usually excluded - Pests such as moths and woodworm - War, confiscation and nuclear risks - Values above the agreed amount or new acquisitions not declared - Losses after a breach of agreed security requirements, depending on the wording ## Who needs it - Anyone whose jewellery or watches are worth more than the valuables limit of their Hausrat - Collectors of paintings, prints, sculpture, antiques, coins or stamps - Heirs who have taken over valuable pieces and need them valued again - Lenders whose works go to exhibitions or are moved often ## Who does not need it - A separate policy, if your valuables fit comfortably within the limits of a good Hausrat policy and are kept in a safe ## What it costs The premium is a rate on the sum insured, and German insurance tax is added on top. The rate depends on what is insured, how it is secured and whether cover should apply away from home. Jewellery that is worn costs more to insure than a painting on the wall. **What drives the premium:** - Total value and value of the most expensive single item - Type of items: paintings, sculpture, jewellery, watches, coins - Security: safe grade, alarm system, location of the home - Territory: home only, Europe or worldwide - Transit, loans and exhibitions - Deductible _We do not quote ranges, because art and valuables policies are priced individually by value, security and risk. Your premium is only fixed in the quote._ ## The policy levels on the market - **Hausrat with a higher valuables limit:** A higher limit for valuables and safe contents for an extra premium. Still named perils and replacement value, no cover for breakage or loss. - **Valuables policy:** All risks cover for jewellery, watches and furs, including when worn away from home. Each item is listed with its value, territory is often worldwide. - **Fine art and collection policy:** All risks at agreed values for paintings, antiques and collections, with transit, exhibitions, depreciation, pair and set clause and buy back right. ## How to recognise a good policy | Criterion | Minimum standard | Strong policy | Why it matters | | --- | --- | --- | --- | | Type of cover | named perils | all risks with a short, clear list of exclusions | Breakage and loss are the most common claims for art and jewellery. | | Insured value | replacement price after the loss | agreed value per item based on a valuation | The market value of a unique piece is hard to prove once it is gone. | | Value updates | none | automatic cover for new acquisitions and rising values | Art and watch prices move, a fixed sum soon falls behind. | | Territory | at home only | worldwide for jewellery and watches you wear | The watch travels with you, the painting does not. | | Transit and exhibitions | excluded | nail to nail included | Most breakage happens during packing and on the road. | | Depreciation and sets | repair costs only | depreciation, pair and set clause, buy back right | A restored work or a single earring is worth less than before. | ## Insurers on the German market In Germany art and valuables are insured by a few large property insurers with specialist departments, alongside specialists such as Hiscox that write through branches of companies based elsewhere in the EU. Acceptance rules, safe requirements and minimum values vary widely. This list is a market overview. - **Mannheimer**: art insurance under the ARTIMA brand, Continentale group - **Generali**: art cover for private collectors under the ARTE Generali brand - **Helvetia**: Artas art insurance of the Swiss Helvetia group - **ERGO**: art cover for private collectors and companies, part of Munich Re - **Allianz**: ArtPrivat art cover for private collections 161 insurers supervised by BaFin, the German regulator, are licensed for this class of insurance. (Hagel-, Frost- und sonstige Sachschäden, Transportgüter). Source: BaFin company database, 2026-09-18; EU insurers without a German office excluded. ## Typical claims and who pays - **Burglary, the watch collection is gone** (value of the watches, often five figures): Hausrat pays for burglary, but only up to the valuables limit. A valuables policy pays each listed watch at its agreed value. - **Painting slips while being hung** (restoration and loss of value): Breakage is not a named peril under Hausrat. An art policy pays the restoration and, if agreed, the depreciation afterwards. - **Ring lost while swimming** (value of the ring): Losing something is not burglary, so Hausrat does not pay. Some valuables policies include loss, others only theft and robbery. The wording decides. - **Loaned work breaks in transit** (restoration up to total loss): Hausrat does not cover art on the move. Nail to nail cover applies from taking the work down to hanging it again. - **Watercolour fades by a sunny window** (loss of value of the sheet): Light works slowly, it is not a sudden event. Gradual deterioration is excluded even in the strongest art policy. - **Heirloom is now worth twice as much** (half the value): The agreed value is what gets paid. A margin for rising values covers part of the gap, only a new valuation closes it. ## Myth or truth - „Hausrat does not pay if a vase falls off the shelf while you are cleaning." ✔ True. Hausrat covers named perils such as fire, water from pipes and burglary. Accidental breakage is not one of them, which is why art needs all risks cover. - „The price I paid twenty years ago is the right sum to insure." ✘ No. What counts is today's value. If it has risen, the old price leaves you underinsured and the payout will not buy a replacement. - „If one earring is stolen, the insurer always pays for that earring alone." ✘ Not always. With a pair and set clause the insurer also pays for the lost value of the remaining piece. Without it, only the single earring is paid. - „Photos and invoices make a claim much easier to prove." ✔ True. Without evidence of what you owned, proving a loss is hard. Keep a copy of the inventory away from home. - „All risks means every kind of damage is paid." ✘ No. All risks means everything is covered unless excluded. Wear and tear, pests, restoration damage and war are on almost every exclusion list. ## Common mistakes - Assuming Hausrat covers jewellery and art in full - Leaving agreed values unchanged for years while prices rise - Keeping no inventory with photos and invoices, or keeping it only at home - Ignoring the safe and alarm requirements in daily life - Not declaring new purchases or inherited pieces ## FAQ ### What is the difference between Hausrat and art insurance? Hausrat pays only for named perils and limits valuables to part of the sum insured. Art insurance covers every risk that is not excluded, at a value agreed per item in advance. ### What is valuables insurance (Valorenversicherung)? All risks cover for jewellery, watches and furs. It usually also applies while you wear them and, depending on the policy, worldwide. The contract lists each item with its value. ### Do I need a valuation for every item? Not always. Invoices and photos are often enough for less expensive pieces. For valuable single items insurers usually want a professional valuation so the agreed value holds. Valuations should be renewed from time to time. ### What does agreed value mean under German law? The value of an item is fixed when the policy starts and counts as the insured value under § 76 VVG. After a loss this amount is used, unless it was substantially too high. ### Is my jewellery covered on holiday? Under Hausrat only in part, through cover away from home, and not for loss. A valuables policy with worldwide territory also covers jewellery you wear. Watch for conditions such as using the hotel safe. ### Can I bring my existing collection policy from abroad? Sometimes, if the policy covers Germany as your place of residence. Many policies are tied to the country where the collection is kept, so check with your insurer before you move and arrange German cover from the day the items arrive. ### Is damage at the restorer's covered? Usually not. Damage caused during work, cleaning or restoration is excluded in most wordings. The restorer is normally liable through their own professional liability insurance. ### Do I need a safe? Above certain values, yes. Insurers require a certified safe with a resistance grade that matches the value for jewellery and watches, and often an alarm for large collections. ## Legal basis and sources - [Insurance Contract Act (VVG, German)](https://www.gesetze-im-internet.de/vvg_2008/) - [BaFin company database (licensed insurers)](https://portal.mvp.bafin.de/database/InstInfo/) ## Request quotes We obtain quotes and come back with a comparison, free of charge. You can write in English. https://www.nammert.com/en/insurance-broker-art-valuables-insurance.php#anfrage --- Your broker: Norman Nammert, trading as NAMMERT. Insurance broker licensed under section 34d(1) of the German Trade Regulation Act. Broker register no. D-C08Q-TOSD4-37. NAMMERT Assekuradeur GmbH is a separate company. It does not arrange your contract. NAMMERT Assekuradeur GmbH, Karl-Marx-Straße 4, 15711 Königs Wusterhausen, +49 3375 29 12 77, info@nammert.com. Wikidata: Q141141479.