THE ESSENTIALS
Before you start
- First risk must apply to the particular benefit.
- The payment limit remains even without proportional reduction.
- Excesses, loss assessment and other terms still matter.
A basis for the sum insured, with a specific effect
The Allianz Casa 2050 – 02/2022_1 wording defines first risk as a fixed sum limiting indemnity without applying the proportional rule, also known as the average clause. Clause 30(3) confirms that waiver for claims under benefits whose sum has been set on that basis. The official index lists this model as effective from 4 October 2022; it is the contractual illustration used here.
Clara asks Rui to find the designation beside the benefit and its sum in the policy schedule. A glossary definition does not establish that every cover in the quotation operates this way. The distinction matters when comparing a limit for one benefit with the total value of the property.
Sources: Allianz Casa 2050 – 02/2022_1 — First Risk and Excess definitions; clauses 19, 21 and 30; PDF pp. 5, 7, 21–23 and 26; read 2 November 2026 ↗ · Allianz — official wording index: Casa 2050 – 02/2022_1 effective from 4 October 2022; checked 2 November 2026 ↗
The same damage can involve two different calculations
Fictional example, isolating the mechanism only: property with a relevant value of €40,000, a €10,000 sum insured and an assessed covered loss of €4,000. Under a proportional regime without an applicable waiver or tolerance, the 25% ratio would produce a calculation base of €1,000. A first-risk benefit would not make that proportional reduction: the base would be the €4,000 loss, below the €10,000 limit.
These calculations omit excesses and the remaining terms and do not estimate a settlement. They also show where the distinction ends: removing proportionality does not increase the agreed sum. If the loss exceeds that ceiling, the excess loss does not become part of the benefit merely because it operates on a first-risk basis.
The excess remains and a waiver may have another basis
The same wording expressly states in its definition of excess that excesses also apply to first-risk covers and sublimits. Therefore, “no proportional rule” does not mean automatically receiving the full repair quotation or always receiving the maximum sum. The insured loss, relevant limit and applicable excess still need to be established.
Clause 30 includes other waiver situations: for buildings, it compares the declared gross floor area with the actual area; for contents, it compares the sum insured with the property’s replacement value. The 85% thresholds therefore concern different quantities. The clause also provides for claims settled up to €1,500 on its stated terms. These waivers do not turn a benefit into first-risk cover and belong to this Allianz model rather than every policy.
Compare the basis beside the right benefit
Rui prepares one line per benefit: the property concerned, basis of the sum insured, limit, excess and period to which that limit applies. He asks where each answer is recorded. He does not use one benefit’s first-risk basis to reduce the buildings sum or the value declared under another heading himself.
To compare future protection, select Home Multi-risk in “Request a quote” on the RMACHADO website and identify the benefit whose sum you want explained. Ask the comparison to distinguish first risk, the average clause and any waivers. The aim is to understand how the sum works before choosing, without predicting a claim outcome.
KEEP THESE QUESTIONS
Your checklist for the next conversation
- Find the first-risk designation in the benefit and policy schedule.
- Compare that benefit’s limit with the property and damage you want to protect.
- Read the excess and any waiver or tolerance affecting the average clause.
- Request written confirmation of the basis, limit and applicable period.
FROM THE ARTICLE TO YOUR SITUATION
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Sources and transparency
Content updated on .
Consultation dates are stated in individual references when available.
Numerical examples are fictional and explain concepts. Editorial interpretations are identified in the text.
- Allianz Casa 2050 – 02/2022_1 — First Risk and Excess definitions; clauses 19, 21 and 30; PDF pp. 5, 7, 21–23 and 26; read 2 November 2026 ↗
- Allianz — official wording index: Casa 2050 – 02/2022_1 effective from 4 October 2022; checked 2 November 2026 ↗
Information from RMACHADO GROUP. This is not an insurance offer or individual advice. Covers, acceptance, exclusions, sums insured and costs depend on the policy. The intermediary does not underwrite the risks.