Risk premium
- Rebuild value as the basis for the calculation
- Construction type, roof covering and year of construction
- Postcode area and claims history
- Indexed annually to building costs
Premium · policy charges · excess
What are the costs of buildings insurance (opstalverzekering)?
The cost of buildings insurance is more than the premium alone. Policy charges, insurance premium tax and the excess are just as much part of it.
- 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: Wat zijn de kosten van een 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
What you pay each year consists of four elements. The risk premium is the largest part and follows from the sum insured: the rebuild value, adjusted for the construction type, roof covering, year of construction, postcode area, form of cover and excess. On top of that come policy charges and 21% insurance premium tax. The fourth element is the excess: you do not pay that in advance, but you do at the moment you have a claim.
Quoting an amount that is right for every home is impossible. Two properties in the same street can differ considerably because of the construction type, roof covering, an extension or building work. Insurers also weigh the same details differently. So we do not show a price list, but the structure of the costs and the levers you can pull.
When assessing costs, look beyond the premium. A lower premium often results from a higher excess, a narrower form of cover or the absence of a guarantee against underinsurance. Without that guarantee you bear the risk of a sum insured that is too low yourself. See also how high the sum insured should be.
What the costs consist of
Three items appear on the policy schedule and one item only arises when you claim.
Charges and tax
Policy charges and insurance premium tax come on top of the risk premium.
- 21% insurance premium tax on the whole amount
- Policy charges per policy or per package
- An instalment surcharge for monthly payment
- Not a source of income for the insurer
Excess
The amount you bear yourself before the insurer pays.
- Often an amount you may choose yourself
- Sometimes a separate and higher amount for storm
- Lowers the premium, increases your costs
- You then stop reporting small claims
What is covered
| Situation | Extended | Comprehensive |
|---|---|---|
| Fire, storm and water damage to the building | Yes | Yes |
| Burglary damage to doors and frames | Yes | Yes |
| Damaging a pipe or tiled floor yourself | No | Yes |
| Glass breakage and solar panels | Provided that | Provided that |
| Payment in full even if the sum insured is too low | Provided that | Provided that |
| Subsidence, pile rot, wear and vermin | 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 about the costs
What determines the costs, where you can save and where saving works against you.
The sum insured determines almost everything
Every calculation starts with the rebuild value: what it costs to build a similar property again to the requirements now in force, excluding the land. That is not the WOZ value, which reflects the market value including the land and serves a tax purpose. Establish the sum with the insurer's valuation tool or address scan, or for an unusual property with a valuation report. Too low a figure lowers the costs and raises your risk.
Underinsurance is the most expensive saving
If the sum insured stands still while building costs rise and you carry out building work, underinsurancearises: the insurer pays proportionately less than your loss, on small claims too. With guarantee against underinsurance that does not arise. With listed and unusual properties, a valuation under Article 7:960 of the Dutch Civil Code the value for a fixed period; within that term the insurer cannot rely on a lower value.
Costs you never see back in cover
Some risks are in no premium at all. Excluded are subsidence, foundation damage and pile rot, damage caused by deferred maintenance, wear, design and material faults, and 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; intent and recklessness fall away under Article 7:952 of the Dutch Civil Code.
Where you can save
Pay annually rather than monthly, bring your policies together in one package, remove duplicate cover such as glass appearing on both the buildings and the contents policy, and choose an excess you can bear yourself. Also report every change to the property: 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). You report a claim as soon as reasonably possible (Article 7:941 of the Dutch Civil Code).
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
- Excess: higher amount, lower premium
- Type of cover and extensions: comprehensive, glass, solar panels
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.
What costs appear on my policy alongside the premium?
Usually policy charges or administration charges, and on top of that 21% insurance premium tax on the total. If you pay in monthly instalments, many insurers add an instalment loading. The amount debited contains all of these items. So compare quotes on the total amount including tax and charges, not on the bare risk premium.
Does the excess count as a cost?
Yes, but only at the moment you have a claim. A higher excess lowers the premium and increases your costs when you claim. Also watch for a different, often higher excess for storm or for certain sections. Choose an amount you can meet from your own resources without difficulty; otherwise you save premium that you hand back on the first claim.
Why do my costs rise every year?
Mainly through indexation. Insurers adjust the rebuild value each year on the basis of building cost figures. If materials and wages rise, the sum insured rises and with it the premium. The claims burden from storm, hail and water and higher repair costs also count in the rates. Without indexation you would slowly become underinsured.
Does the insurer use the WOZ value?
No. Buildings insurance works with the rebuild value: what it costs to build a similar property again to current building standards, excluding the land. With an old or unusual property that value is often above the WOZ value. Some insurers use the WOZ value at most as a supporting figure in an address scan.
Are advice fees payable separately?
With non-life insurance, the adviser's remuneration is usually built into the premium in the form of commission. You then do not receive a separate invoice. For complex or commercial files an adviser can work on a separate fee. Ask in advance how the remuneration is arranged, so that you know what is included in the amount quoted.
Read more
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Also relevant
Want insight into your own costs?
Request a quote without obligation. We will show the premium, charges and tax in one overview.
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.