Sums insured · risk prevention requirements · payout
Business non-life insurance through a.s.r.
On a commercial general insurance policy the payout is rarely limited by the description of cover. The sticking point lies in the sums insured and in the prevention conditions on the clause schedule.
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Deze pagina in het Nederlands: Zakelijke schadeverzekeringen via a.s.r..
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- We compare the offerings of several insurers
- An adviser checks whether the cover suits your activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
The commercial general insurance range of a.s.r. consists of sections for buildings, business interruption, business contents and goods, transport, motor and liability. Finass acts as intermediary here and compares that objectively with what more than thirty other companies offer. What a policy is worth only becomes clear when a claim is settled, and two mechanisms play a part there that you can control in advance: the size of the sum insured and compliance with the clauses.
The first mechanism is the proportionality rule. If your business contents or stock are insured for a lower amount than their actual value, even a partial loss is paid proportionately. In a growing business this creeps in unnoticed: an extended workshop, a larger stock or new equipment without any change to the policy schedule. A valuation report or a guarantee against underinsurance removes that risk, provided the declaration is correct.
The second mechanism appears on the clause schedule. Insurers set requirements for the electrical installation, for burglary prevention and for hot work. Those requirements are not advice but a condition of cover: if the inspection has expired or the roller shutter was not closed, the payout can be reduced or refused. If you renovate the premises, report it in advance, because during the works the risk changes and the buildings policy does not cover the work in progress not.
This page deals with one situation. The full overview is on Compare construction all risks (CAR) insurance.
What to look out for
Four points on which commercial claims come unstuck in practice.
Sums insured quietly go out of date
Machinery, stock and fittings grow with the business. The policy schedule does not. Without an adjustment, underinsurance arises and every loss is paid proportionately. Each year, set a current inventory list and a stock valuation alongside the policy schedule, and watch the indexation: it follows general price levels and not your own expansion.
Warranty clauses are strict conditions
A clause requiring periodic inspection of the electrical installation, prescribing a particular burglary resistance class or tying hot work to a procedure must demonstrably have been complied with. Keep inspection reports, key management records and work permits. After a fire or burglary this is the first thing the loss adjuster asks for, and a warranty that has not been met costs you cover.
Business interruption stands or falls with the indemnity period
The indemnity period determines how long your loss of turnover is compensated. Too short a period is a common mistake: permits, rebuilding and machinery delivery times often run on longer than expected. Work back from the worst-case scenario, including demolition, clearing debris and refitting, and not from the average repair time.
What a general insurance policy does not pay for
Outside the cover are wear, inherent defect and gradually acting influences such as damp, corrosion and soil contamination over time. Also excluded are administrative fines and penalty payments, intent (Article 7:952 DCC), acts of war and nuclear reactions, as well as flooding from a primary flood defence. Damage caused by terrorism is subject to its own, limited arrangement.
What does your premium depend on?
- Sector and activities: work involving a fire hazard weighs heavily
- Sums insured: building, business contents, goods and tenant's improvements
- Construction type and use of the building: construction, roofing and neighbouring premises
- Level of prevention: burglary protection, firefighting equipment and inspections
- Business interruption indemnity period: the longer, the higher the premium
- Claims history: frequency weighs more heavily than size
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Basic | Extended |
|---|---|---|
| A storm tears the roofing loose and rain drives into the workshop | Yes | Yes |
| A sprinkler pipe leaks over the weekend and floods the stock of goods | Yes | Yes |
| A burglar gets in through a roof window that was not on the security declaration | Provided that | Provided that |
| Your refrigerated stock spoils because the cooling fails over the weekend | No | Provided that |
| A newly installed machine breaks down owing to a manufacturing fault in the drive unit | No | No |
| A wooden floor warps because of damp that had been coming from a leaking pipe for months | No | No |
These outcomes assume a sum insured that still matches the actual value at the time of the loss.
Frequently asked questions
This is what people ask us most.
Are business contents paid on replacement value as new or on market value?
That is stated on the policy schedule. Many policies pay the replacement value as new as long as the market value is above a certain proportion of it; below that, market value applies. For items subject to rapid obsolescence, such as computers, settlement is almost always on market value. Article 7:960 of the Dutch Civil Code also provides that the payout may not place you in a clearly better position.
We rent our business premises. What should I insure?
The owner insures the building. You insure your business contents and goods, and in addition your tenant's interest: improvements you have made yourself, such as a kitchenette, partition walls, floor finishes and an air conditioning system. Those investments do not fall under the landlord's buildings policy, nor under ordinary business contents cover.
We are going to renovate. Does the buildings policy simply continue?
Always report the renovation in advance. During the works the risk changes because of open roofs, hot work and materials on site, and insurers attach conditions to that. The buildings policy covers the existing premises, but not the work in progress and not the building materials delivered. Construction all risks (CAR) insurance is the appropriate cover for that.
How quickly must I report a claim?
As soon as you could reasonably be aware of it. That follows from Article 7:941 of the Dutch Civil Code. In the case of burglary, theft or vandalism, a report to the police is also required. Leave the situation as intact as possible until the loss adjuster has been, but do take measures to limit further damage, and keep damaged items until the insurer has confirmed that this is no longer necessary.