Rebuild value
- Not the market value
- Not the WOZ value (the Dutch property valuation)
- Guarantee against underinsurance
Buildings insurance for a VvE
Buildings insurance is the only insurance an owners' association is required by law to take out, and it is the board that signs for it.
- several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
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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 activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
- Independent advice
- Several insurers
- Switching arranged
- Help with claims
In brief
Article 5:112 of the Dutch Civil Code and the model regulations place the obligation to insure with the association, not with the individual owners. The VvE is the policyholder; all flat owners are co-insured and the mortgage lenders are named on the policy as interested parties.
That makes this policy a responsibility of the board. The board carries out what the general meeting decides: which excess, which extensions, and when a new valuation is carried out. Anyone who lets that slide runs into a personal responsibility that stands apart from the policy.
What an individual owner arranges in addition is set out on the page about the insuring a flat with a VvE.
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What does buildings insurance cover for a VvE?
The structure of the cover in three parts, with an overview per situation below.
What is included
Everything permanently attached to the building.
- Building and installations
- Outbuildings
- Boundary fences
Extensions
What is excluded as standard.
- Glass
- Garden landscaping
- Inherent defect and foundations
What is covered
| Situation | Standard | With extension |
|---|---|---|
| Fire, smoke and lightning strike | Yes | Yes |
| Storm from force 7 upwards | Yes | Yes |
| Water damage from a burst pipe | Yes | Yes |
| Glass breakage | Sometimes | Yes |
| Groundwater coming through the floor | No | No |
| Wear and deferred maintenance | No | No |
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
What does your premium depend on?
- Rebuild value of the complex. The current valuation of the whole building forms the basis of calculation.
- Year of construction and state of maintenance. The condition of the roof, facade and installations as shown by the long-term maintenance plan.
- Excess chosen. A decision of the general meeting that feeds straight through into the contributions.
- Extensions included. Glass, the owner's interest and common installations are assessed separately.
- Use of the private parts. Residential only, or business space and letting within the complex as well.
- Number of apartment rights. The size of the association determines the administrative burden and the spread of risk.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
- You request a quoteWe take stock of your activities, turnover 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.
Why arrange it through Finass Verzekert?
We look at the terms as well as the premium, and stay your point of contact when there is a claim.
Independent
We are not tied to one insurer and compare on the basis of an objective analysis of several companies.
One fixed adviser
You call or email someone who knows your file. No menu options, no changing call centres.
Switching without hassle
We cancel your old policy and align the start date, so you are never a day without cover.
Help with claims
We report the claim and monitor how it is handled. In urgent cases you can reach us on the emergency line.
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.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
The association is the policyholder, not the owner
The policy schedule names the VvE as policyholder and insures the owners collectively. An individual owner therefore cannot claim for damage to the building independently of the association. The notification runs through the board or the managing agent. Make sure owners know where to report damage and that the board can be reached outside office hours, because with a leak every hour counts.
Decisions at the general meeting
The level of the excess, including glass, the choice of a guarantee against underinsurance and the instruction to obtain a new valuation are decisions of the general meeting of owners. Record them in so many words in the minutes, including the year in which a new valuation is to be made. Without a decision there is no basis for spreading the cost through the contributions.
The excess and passing it on
When there is a claim, the insurer pays the association. Who bears the excess is an internal matter: many associations pass it on to the owner in whose private part the damage arose, while others charge it to the joint account. Set that rule down before the first claim arises, or it becomes an argument between neighbours at the next general meeting.
Liability stands apart from it
Buildings insurance repairs damage to the building, but does not cover the association's liability. If someone falls over a loose stair tread in the stairwell, the VvE is liable as possessor under Article 6:174 of the Dutch Civil Code, and for errors by a caretaker or cleaner under Article 6:170 DCC. Separate liability insurance is needed for that, alongside directors' and officers' liability cover.
Frequently asked questions
This is what people ask us most.
Is this insurance compulsory by law?
Yes. Article 5:112 of the Dutch Civil Code requires the regulations to provide that the association insures the building, and the model regulations set that out. The obligation rests on the association as a whole, not on the owners individually. A board that lets the policy lapse is acting contrary to the regulations and can be held to account by the owners.
Who reports a claim, the board or the owner?
The association is the policyholder, so notification runs through the board or the managing agent. An owner who calls in themselves does not appear on the policy as a point of contact. Do report damage to the board immediately and limit the loss yourself, as Article 7:957 of the Dutch Civil Code requires. The cost of those emergency measures is paid under most policies.
What falls outside buildings insurance?
The home contents of owners and tenants, and the improvements an owner has made in their private part: kitchen, bathroom, floors and sun blinds. Deferred maintenance, foundation repairs and construction faults are excluded as well, as is the liability of the association and of its directors. For those last two, separate insurances exist alongside the buildings policy.
Can the association recover a loss from an owner?
It can. If an owner or their tenant causes damage to the building, the insurer or the association can hold them liable under Article 6:162 of the Dutch Civil Code. With a tenant this often runs through the owner, because the occupier is bound to the regulations through the user's declaration. So always record the circumstances and notifications in writing.
Every situation is different. For these situations we have a separate page.
- Buildings insurance (opstalverzekering) and commercial buildings insurance (gebouwenverzekering): the same or not?The main page
- Insuring an apartment that is letVvE, owner's interest, tenant
- Insuring a flat with a VvEVvE policy, owner's improvements, contents
- Buildings insurance for the VvEDeed of division, rebuild value, owner's interest
- Insurance for commercial buildingsRebuild value, tenants, vacancy
- Buildings insurance (opstalverzekering) for an industrial unitRebuild value, construction, prevention requirements
- Buildings insurance for propertyPortfolio, loss of rent, vacancy
- Fire insurance for a VvERebuild value, guarantee, all owners
Read more
Ready to compare?
Request a quote without obligation. We will look at which insurer best matches your activities and your risk.
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 compiled by Finass Verzekert (LinkedIn). Last updated on .
The information on this page is general in nature and is not personal advice.