With a let apartment three policies run alongside each other: that of the VvE (Dutch owners' association), that of your tenant and your own as owner and landlord.
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Work out for yourself what it would cost.
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We compare the offerings of several insurers
An adviser checks whether the cover suits your situation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
The VvE insures the building, your tenant insures his contents, and in between lies a strip that belongs to no one: the owner's interest, the excess on the VvE policy, your rental income and your liability as landlord.
On top of that, the deed of division and the house rules may impose conditions on letting, and sometimes prohibit letting rooms individually or short stays. If you act contrary to them, that is not only a problem with the association but also a matter to report to your own insurer.
The structure of the cover in three parts, with an overview per situation below.
The basis
Rebuild value
What it costs to rebuild the premises.
Not the market value
Not the WOZ value (the Dutch property valuation)
Guarantee against underinsurance
Permanently fixed
What is included
Everything permanently attached to the building.
Building and installations
Outbuildings
Boundary fences
Optional
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.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
What the VvE policy does not arrange for you
The association's premises insurance repairs the structure and concerns the communal parts. The excess is often passed on to the owner in whose private part the damage arose, and that is you. The kitchen, bathroom or floor you had installed yourself also falls outside that policy. That is owner's interest. Ask for the policy schedule every year and pay attention to the amount of the excess.
What the deed of division says about letting
The model regulations require you to have the occupier sign a user's declaration, by which the tenant is bound by the rules of the association. Some deeds prohibit letting rooms individually or stays shorter than a set period. Read this before you let, and report the letting to your own insurer afterwards; letting that has not been reported is an independent ground for refusal under Article 7:930 of the Dutch Civil Code.
A leak reaching the neighbours below
If water runs from your let apartment to the flat below, the VvE policy repairs the building, but the neighbour's damaged contents fall outside it. That loss comes to you through Article 6:174 of the Dutch Civil Code or, where maintenance has been neglected, Article 6:162 DCC. Your tenant is not an insured on your policy; for that he needs his own liability insurance.
Loss of rent in an apartment block
After major damage to the complex your apartment may be uninhabitable for months, even if the cause lay in another private part. The VvE policy does not compensate your lost rent: it covers the building, not your operation. If you want to secure that income, loss of rent should be in your own landlord's cover, for a period that fits the time needed to repair a whole building.
What does your premium depend on?
Owner's interest insured. The value of the kitchen, bathroom, floors and alterations you installed yourself.
Excess on the VvE policy. What the association passes on determines how much you want to cover yourself.
Form of letting. Letting to a family, room by room or for short stays weighs differently.
Loss of rent included. The period over which lost rental income is compensated.
Floor and position. An apartment above occupied space carries a greater risk of leaks.
Liability cover as landlord. Cover for injury and property damage towards the tenant, neighbours and visitors.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your situation, your risk and your 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.
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.
Do I need my own buildings insurance alongside the VvE policy?
No, the building is already insured by the association. A second buildings cover on the same interest achieves nothing. What you do arrange yourself is the owner's interest, the excess the VvE passes on, loss of rent and your liability as landlord. Those are sections alongside the VvE policy, not instead of it.
Who pays the excess for damage in my apartment?
In many associations the excess is passed on to the owner of the private part where the damage arose. If that is stated in the regulations or in a decision of the general meeting, it comes to you and not to your tenant. Check the amount on the association's policy schedule and ask how the passing on has been set out.
Do I have to tell the VvE that I am letting?
Yes. The model regulations normally require you to register the occupier and have a user's declaration signed, by which the tenant is bound by the house rules. Without that declaration the association can hold you to account for your tenant's conduct, while it cannot address him directly. Also notify the board when occupants change.
My tenant causes a leak affecting the flat below. Who pays?
Repair of the building runs through the VvE policy. The damage to the contents of the flat below falls outside it and is recovered from whoever is liable: your tenant if he caused the leak, or you if it concerns a defect in the apartment. Your tenant needs his own liability insurance for that.
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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