Guarantee against underinsurance
- Applies once the valuation tool has been completed correctly
- Lapses where building work has not been reported
- Sometimes a valuation report instead
- Not every cheap policy has this guarantee
Rebuild value · underinsurance · policy conditions
Is there such a thing as the best buildings insurance (opstalverzekering)?
There is no policy that is the best for every home. What there is: a short list of conditions on which policies genuinely differ. That list is set out below.
- several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
Deze pagina in het Nederlands: Bestaat er zoiets als de beste opstalverzekering?.
The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
- We compare the offerings of several insurers
- An adviser checks whether the cover suits your situation
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
On this page we do not name a winner, and that is not an evasive answer. Buildings insurance is judged on the combination of your property and your policy: an insurer that works excellently for a post-war terraced house may simply be unable to accept a converted farmhouse with a thatched roof. What is the right choice for one is not an option for another. What can be judged objectively is the policy conditions.
Four of them determine almost everything: is there a guarantee against underinsurance, how is the rebuild value established, is the cover extended or comprehensive, and what excess applies — including per event, as with storm. After that come the details: are solar panels, glass, outbuildings, paving and landscaping included, and up to what amount.
Also note what stays outside, because that is largely the same with every insurer. Settlement, pile rot, poor maintenance, wear, structural faults and vermin are excluded everywhere. A policy that calls itself complete changes nothing about that. So compare on the points that do differ; see also how the premium is made up.
Where policies really differ
Three elements determine the difference between two buildings policies. The rest is largely the same.
Rebuild value
The sum insured is the rebuild value, not the WOZ value or the asking price.
- The cost of rebuilding, excluding the land
- Address scan, valuation tool or survey
- Annual indexation to building costs
- With a listed building or thatch, a valuation is often compulsory
Extended or comprehensive
Comprehensive adds sudden accidental damage of your own to the named events.
- Extended: fire, storm, water, burglary
- Comprehensive: also a drill hole through a pipe
- The exclusions remain identical
- Glass and solar panels sometimes a separate section
What is covered
| Situation | Extended | Comprehensive |
|---|---|---|
| Fire, storm and water damage to the building | Yes | Yes |
| Hitting a pipe yourself while doing DIY | No | Yes |
| Payment without deduction where the sum insured is too low | Provided that | Provided that |
| Solar panels and glass included | Provided that | Provided that |
| Damage during renovation or a long period of vacancy | Provided that | Provided that |
| Subsidence, pile rot, wear and construction defects | No | No |
What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) that you receive before you take out cover.
Four points instead of a ranking
Assess buildings insurance on these four elements; they say more than a quality mark or a star rating.
A comparison without the rebuild value is pointless
Every premium and every assessment starts with the sum insured. That is the rebuild value: what it costs to build a similar property again to the requirements now in force, excluding the land. That is something other than the WOZ value, which reflects the market value including the land and serves a tax purpose. If you compare two quotes with different sums insured, you are not comparing policies but calculations.
Without a guarantee you bear the risk yourself
If the sum insured is too low, the insurer pays proportionately: with a sum insured that is twenty per cent too low, you receive a considerably lower payment even on a small claim. With guarantee against underinsurance that does not arise, as long as you completed the valuation tool truthfully. With unusual properties, a valuation under Article 7:960 of the Dutch Civil Code fixes the value for a set period; within that period the argument cannot arise.
The exclusions are largely the same everywhere
No buildings insurance covers subsidence, foundation damage and pile rot, damage caused by deferred maintenance, wear, design and material faults, or damage caused by vermin, woodworm, mould and slowly penetrating damp. Groundwater through the floor or a wall and flooding after the failure of a primary flood defence also remain outside the cover, and intent or recklessness is excluded under Article 7:952 of the Dutch Civil Code. A policy that does provide for this does not exist.
The best policy is the one that suits your property
A thatched roof, listed status, timber construction, a converted farmhouse, room letting or a business at home: with each of these features part of the market drops away or additional requirements apply. Report them in advance. The duty of disclosure under Article 7:928 of the Dutch Civil Code applies when the policy is taken out, and a breach can reduce the payout or cause it to lapse (Article 7:930 of the Dutch Civil Code). A policy accepted on incomplete information is not a good policy, however attractive the premium looks.
What does your premium depend on?
- Rebuild value: the basis of calculation for the policy
- Construction type and roof covering: brick, timber or thatch
- Year of construction and state of maintenance: older premises, higher risk
- Postcode area: burglary, storm and water risk
- Type of cover: extended or comprehensive
- Excess and extensions: glass, solar panels, outbuildings
Insurers weigh these details differently. That is where your saving is.
How we arrange it
- You request a quoteWe take stock of your situation, risk and wishes.
- We compareseveral insurers, on premium as well as conditions.
- You receive a proposalWith an explanation of the differences and the exclusions.
- We arrange the switchIncluding cancellation, so there is no gap in cover.
9.5New policy
9.8Claims handling
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Frequently asked questions
This is what people ask us most.
Why do you not name a best insurer?
Because the outcome differs per home. Underwriting policy, pricing and additional requirements vary widely by construction type, year of construction and postcode. An insurer that comes out favourably for a terraced house sometimes refuses a property with a thatched roof. A general ranking would therefore be wrong for most readers. So we compare on your details and on conditions, not on reputation.
What should I compare on then?
On four points: is there a guarantee against underinsurance, how is the rebuild value established, is the cover extended or comprehensive, and what excess goes with it, including per event such as storm. Then look at the limits for glass, solar panels, outbuildings, landscaping and paving. Those amounts differ by policy and determine what you actually receive when you claim.
Is comprehensive always the better choice?
Not by definition. Comprehensive cover adds sudden and unforeseen damage, such as a drill hole through a pipe or a ladder through the roof light. If you rarely do jobs around the house, you will seldom use that extension. The exclusions also remain the same under both forms. Weigh the extra premium against the type of claim you realistically expect and against the excess that applies to it.
Does a quality mark or star rating say anything?
Only to a limited extent. Such scores usually weigh premium, service and customer satisfaction, and rarely address whether the sum insured has been correctly established or how widely the exclusions are worded. They also say nothing about whether your particular property will be accepted. Use them at most as an addition and not as a decisive argument in your choice.
Can I still switch later?
Yes. After the first contract year, most buildings insurance policies can be cancelled on any day with one month's notice. Make sure the new policy starts on the day the old one ends, so that there is not a day without cover. If there is a mortgage, check whether the lender wants a note on the policy.
Read more
Within Opstalverzekering
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Would you rather compare on your own details?
Request a quote without obligation. We will check the rebuild value and set the conditions side by side.
Prefer to call? 072 - 509 24 56, weekdays 09:00–17:00.
Claim on the road? Emergency line 06 - 55 20 40 72.
About our service
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
This page was written and checked by an adviser at Finass Verzekert. Last updated on .
The information on this page is general in nature and is not personal advice.