Buildings insurance
- Buildings insurance: the building
- Contents insurance: the home contents
- Home insurance: often both together
- In the Netherlands, two separate policies
Buildings insurance (opstalverzekering) in English
The Dutch opstalverzekering is called buildings insurance in English, or in full home buildings insurance. Below are the usual translations of policy terms and why the Dutch conditions remain legally binding.
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In brief
Buildings insurance (opstalverzekering) translates into English as buildings insurance or home buildings insurance; in a wider sense property insurance is also used, but in English that term often includes the contents as well. The Dutch home contents insurance is called contents insuranceWhere British insurers often offer both in one home insurancepackage, in the Netherlands they are two separate policies, each with its own sum insured and excess.
The most important term is the rebuild value: in English rebuilding cost or reinstatement value. That is not the market value (market value) and not the WOZ value. You will also come across: excess or deductible for eigen risico, premium for premie, policy schedule for the polisblad, policy wording or terms and conditions for the polisvoorwaarden and exclusions for the uitsluitingen.
For expats buying a home in the Netherlands: a few insurers and advisers communicate in English, but the policy conditions are almost always in Dutch and are legally binding. An English summary is an aid, not a contract. So have the key terms explained to you before you sign, certainly those about rebuild value, the duty of disclosure and the exclusions. See also buildings insurance in general.
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The terms side by side
Three groups of terms in which Dutch and English policies differ from one another.
Rebuilding cost
The rebuild value, not the market or WOZ value.
- Rebuilding cost or reinstatement value
- Market value is something else
- Sum insured: the verzekerde som
- Underinsurance: onderverzekering
Policy wording
The conditions, in the Netherlands almost always in Dutch.
- Policy schedule: the polisblad
- Excess or deductible: eigen risico
- Exclusions: the uitsluitingen
- Claim: schademelding
What is covered
| Situation | Extended | Comprehensive |
|---|---|---|
| Fire and lightning: brand en blikseminslag | Yes | Yes |
| Storm and hail: storm- en hagelschade | Yes | Yes |
| Escape of water: water from pipes | Yes | Yes |
| Accidental damage: an accident of your own while doing DIY | No | Yes |
| Contents: furniture and appliances | No | No |
| Subsidence and rot: verzakking en paalrot | 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.
What does your premium depend on?
- Rebuild value: rebuilding cost, the basis of calculation
- 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: excess, 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.
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.
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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 translation and practice part company
Four points on which an English translation can mislead you.
The Dutch text is the legally valid text
If you receive an English summary or translation, that is an explanation. In a dispute, what is looked at is the Dutch policy conditions and the Dutch policy schedule. So have it explained to you in advance what it says about the sum insured, the form of cover and the exclusions. An English term that means something else in the United Kingdom does not change the Dutch cover.
Subsidence is precisely what is not covered in the Netherlands
British buildings insurance often does cover subsidence, subsidence. Dutch buildings policies exclude it structurally: subsidence, foundation damage and pile rot are not covered, not even after a dry summer. The same applies to damage caused by deferred maintenance, wear and design faults and by vermin, mould and slowly penetrating damp. This is the difference that surprises expats most often.
Sum insured here means rebuild value
In the Netherlands the sum insured is based on the rebuild value, set with a rebuild value calculator or a valuation, not on the purchase price or the WOZ value. If that sum has been set correctly, the insurer usually gives a guarantee against underinsurance. For an unusual property, a valuation under Article 7:960 of the Dutch Civil Code the value for a fixed period.
The duty of disclosure applies here too
When taking out the insurance you must answer the insurer's questions truthfully: the duty of disclosure under Article 7:928 of the Dutch Civil Code. Think of letting, room occupancy, a business at home, vacancy and claims history. A breach can reduce the payment or cause it to lapse (Article 7:930 of the Dutch Civil Code). You report a claim as soon as reasonably possible, as set out in Article 7:941 of the Dutch Civil Code requires.
Frequently asked questions
This is what people ask us most.
What is an opstalverzekering called in English?
Buildings insurance, or in full home buildings insurance. In a wider sense property insurance is used, but that term often includes the contents of the home as well. The Dutch inboedelverzekering is called contents insurance. In the United Kingdom the two are often offered together as home insurance. In the Netherlands they are two separate policies.
What is the English term for herbouwwaarde?
Rebuilding cost or reinstatement value. That is emphatically not the market value and not the WOZ value. It concerns the cost of building a similar property again to the building standards now in force, without the land. For older or listed properties that value is often above the sale price.
Can I get a policy with English-language conditions?
Rarely. Insurers in the Netherlands use Dutch-language conditions. Those are legally binding. Some providers supply an English summary or communicate with the customer in English, but in a dispute the Dutch text counts. So have the key provisions explained before you sign.
Is subsidence covered, as it is under British policies?
No. Subsidence, ground settlement, damage to foundations and pile rot are structurally excluded under Dutch buildings insurance, even where drought is the cause. That differs from what expats from the United Kingdom are used to. Repairs to foundations are at your own expense; ask your local authority about existing schemes and forms of finance.
What does excess mean on my policy?
Excess or deductible is the eigen risico: the amount that remains at your own expense on every claim. For storm a separate and higher amount often applies. A higher excess lowers the premium but increases your costs when you claim. Choose an amount you can comfortably bear yourself.
Every situation is different. For these situations we have a separate page.
- Compare buildings insurance (opstalverzekering)The main page
- Buildings insurance (opstalverzekering) for your own home: what counts as buildings and structures?Rebuild value, outbuildings, excess
- What does buildings insurance (opstalverzekering) do?Rebuild value, damage to the building, exclusions
- What are the costs of buildings insurance (opstalverzekering)?Premium, policy charges, excess
- Buildings insurance (opstalverzekering): what is it and what does it cover?Rebuild value, building, exclusions
- Buildings insurance (opstalverzekering): rebuild value and exclusionsBuilding, rebuild value, mortgage requirement
- What does buildings insurance (opstalverzekering) cover?Covered perils, forms of cover, additional costs
- The basics of buildings insurance (opstalverzekering)Structure, rebuild value, contents
Read more
Within Opstalverzekering
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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 compiled by Finass Verzekert (LinkedIn). Last updated on .
The information on this page is general in nature and is not personal advice.