When insuring the contents of your home, there are different types of policies available.
Contents insurance will cover all items that are detached from the structure of the house. Built in appliances, fixtures and fittings would be added to the structure insurance.
Contents can be insured against:
The cost of contents insurance will depend on the level of cover required, and the events insured against. Your agent will be happy to advise you on this.
Valuable items such as jewelry, art and stamp collections will need to be appraised in order to have the appropriate level of insurance for those specific items. Goldfus Insurance & Investments work closely with an appraisal company that will appraise all types of jewelry and valuables in your own home, at no extra cost to you.
Items of value that are often taken outside the house (e.g. jewelry, laptop computers, smart phones, cameras, musical instruments), can be insured on an 'all risk' basis anywhere in Israel, except if they are stolen from inside a car. The 'all risk' component will cover all loss and damage excluding wear and tear and may be extended to include world-wide cover should you wish.
Bicycles can also be insured on an 'all risk' basis to cover 3rd party damage as a result of an accident.
As part of the contents insurance, 3rd party liability cover is added to cover the policy owners for accidents that not only occur in their home, but also caused to neighbouring property. 3rd party liability can be extended to cover business activity, swimming pools and other specific activities.
Olim Chadashim who are shipping their contents should be aware that maritime insurance provided by the shipping company is only valid until delivery. Therefore, it is recommended to be in contact with us prior to your Aliyah or upon arrival to ensure that the appropriate coverage is in place.
Tenants do not need to take out structure insurance (unless otherwise stated in the rental contract), as the property does not belong to them. Instead, they should verify that the landlord has structure insurance.
There have been cases where damage to a property's structure as a result of the tenant's negligence, have led to the insurance company of the landlord suing the tenants for the repairs.
Likewise, damage caused to contents as a result of a landlord's negligence, have led to cases where the tenant's insurance company have sued the landlord.
In the situation where the tenant has contents insurance and the landlord has structure insurance, a clause can be written into the leasing contract called Bitul Se'if Shibuv (cancellation of subrogation clause) at no extra cost to protect both parties and prevent any possibility of being sued for negligence. Before signing your rental contract, please contact us to make sure that your contract reflects this.
Goldfus Insurance and Investments takes no responsibility for changes in Israeli legislation that may alter the accuracy of the above information. For clarification of any changes, please contact us.