The building
- Walls, roof, floors and foundations
- Fitted kitchen, bathroom and installations
- Shed, garage and boundary fence
- Solar panels, provided they are declared and insured
Building · rebuild value · mortgage requirement
Buildings insurance (opstalverzekering): rebuild value and exclusions
Buildings insurance is the insurance of the building itself. It pays for damage to walls, the roof, installations and everything else permanently attached to the house.
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Deze pagina in het Nederlands: Opstalverzekering: herbouwwaarde en uitsluitingen.
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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 your own premium with the calculator.
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
Buildings insurance, also called home insurance, covers the building: walls, floors, roof, foundations, window frames, the fitted kitchen and bathroom, the central heating system and the electrical installation. The shed, garage, boundary fencing and paving on the same plot are usually included as well. Your possessions are not included; you insure those with a home contents insurance.
The policy works with the rebuild value and not with the WOZ value or the sale price. The rebuild value is what it costs to build a similar property again on the same site to the requirements now in force, excluding the land. With older, large or unusual properties that value is often above the WOZ value. If you establish the sum with the insurer's valuation tool or address scan and complete it truthfully, the policy usually gives guarantee against underinsurance.
The insurance is not compulsory by law, but almost every mortgage lender requires it and records that in the mortgage deed. With a flat, the VvE insures the whole building collectively; you then do not take out buildings insurance yourself. Important: buildings insurance is not a maintenance contract. Settlement, pile rot, poor maintenance and structural faults are excluded everywhere.
How buildings insurance works
Three elements determine the policy: what is insured, for what amount and against which events.
Rebuild value
The sum insured is the rebuild value, not the WOZ value (the Dutch property valuation) or the market price.
- The cost of rebuilding, excluding the land
- Value calculator, address scan or valuation
- Annual indexation to building costs
- A correct declaration gives a guarantee against underinsurance
Extended or comprehensive
Extended cover applies to named events, comprehensive cover also to sudden accidents of your own.
- Extended: fire, storm, water, burglary
- Comprehensive: also a drill hole through a pipe
- Exclusions apply in both forms
- Glass sometimes as a separate section
What is covered
| Situation | Extended | Comprehensive |
|---|---|---|
| Fire, lightning and explosion damage to the building | Yes | Yes |
| Storm and hail damage to the roof and facade | Yes | Yes |
| Burglary damage to doors and frames | Yes | Yes |
| Damaging a pipe or a tiled floor yourself while doing DIY | No | Yes |
| Breakage of glass in windows and doors | Provided that | Provided that |
| Subsidence, pile rot and wood rot from deferred maintenance | 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 to know in advance
These elements determine whether the policy does what you expect of it when you claim.
Rebuild value is not the WOZ value
The WOZ value is a valuation of the market value including the land, intended for taxation. The rebuild value is a building calculation: materials, labour, demolition and clearance costs to build the same property again. With a pre-war house, a listed building or a thatched roof, the rebuild value is regularly higher than the WOZ value. If you insure on the WOZ value, you insure an amount that has nothing to do with rebuilding.
The guarantee against underinsurance is the heart of it
If the sum insured is too low, the insurer pays proportionately less than your loss — even for a small leak. With guarantee against underinsurance that does not arise, as long as you completed the valuation tool truthfully and report changes. 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.
What is never covered
Excluded are, among others 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 penetrating the floor or a wall and flooding after the failure of a primary flood defence also remain outside the ordinary cover. Damage caused deliberately or recklessly is excluded under Article 7:952 of the Dutch Civil Code.
Who takes it out and who pays for it
The owner of the property takes out the buildings insurance. Where the property is let, that is the landlord; the tenant insures only their own contents and tenant's interest. With a flat, the VvE insures the building collectively, with the deed of division determining under Article 5:112 of the Dutch Civil Code what falls under what. Report changes to the property 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).
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 why comparing pays off.
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
The questions we are asked most often about this.
Is buildings insurance (opstalverzekering) compulsory?
Not by law. Almost every mortgage lender does set it as a condition and records that in the mortgage deed, because the property serves as security. Without financing the insurance remains voluntary, but the risk then lies entirely with you: a burnt-out home has to be rebuilt from your own resources while the mortgage continues.
What is the difference from home insurance?
None. Home insurance, buildings insurance and building insurance are different names for the same cover: damage to the building. Insurers choose which term they use. What you do have to watch is the difference from home contents insurance: that covers your possessions and works with replacement value as new instead of rebuild value.
What if I live in a flat?
Then the owners' association insures the whole building with one buildings policy; you do not take one out yourself. Do check whether the VvE's sum insured and excesses are adequate, and whether features you installed yourself, such as a new kitchen, are covered. For your own possessions you take out home contents insurance.
Does buildings insurance cover poor maintenance?
No. The policy covers sudden and unforeseen events, not gradual deterioration. Rot, roof covering leaking at the end of its life, corroding pipes and mould caused by poor ventilation are at your expense. The insurer can also refuse damage arising from that poor maintenance. Maintenance is and remains the owner's job.
Do I need to report a renovation?
Yes, and preferably in advance. An extension, dormer window, converted loft or new installation raises the rebuild value; if the sum insured stays where it is, underinsurance arises. The risk during the work itself is also often arranged differently: with a long vacancy or large-scale works the cover can be restricted. Ask for written confirmation before the work starts.
Read more
Similar pages
- What does buildings insurance (opstalverzekering) do?
- Buildings insurance (opstalverzekering): what is it and what does it cover?
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Is your home properly insured?
Request a quote without obligation; we check the rebuild value and compare premiums and conditions.
Prefer to call? 072 - 509 24 56, weekdays 09:00–17:00.
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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.
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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.