Buildings insurance
- Fire, storm, water and burglary damage
- Loss of rent after a covered claim
- Tenant vandalism as an extension
- Limited cover while the property is empty
Buildings insurance · vacancy · owner's interest
Insurance for let property
With let property the cover works differently from a home you live in yourself. Below you can read which policies together cover the risk and where the limits lie.
- 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: Verzekeringen voor verhuurd onroerend goed.
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 activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
As soon as property is let, the insurance moves from a private buildings policy to a buildings insurance. The difference is not only in the name. Buildings insurance for let property assumes a building with changing users, takes account of vacancies between tenants and offers extensions that a private policy does not have, such as loss of rent and tenant vandalism. With several properties the portfolio is assessed as a whole.
A few standard elements go with that buildings insurance. A liability insurance, because the owner of a structure is, under Article 6:174 of the Dutch Civil Code is strictly liable for defects. A glass insurance, certainly with shop fronts. An environmental damage insurance for properties with a tank, a workshop or a hospitality use. And cover for owner's interest: the facilities you installed yourself and let with the property.
The main choice is between a private and a business approach. If you let one home alongside your job, a private policy with a letting clause may be enough. If you run several properties, let on a commercial basis or hold the property in a private limited company, business buildings insurance goes with that. See also buildings insurance for property.
Which policies cover which risk
Let property is rarely covered by one policy; three elements keep coming back.
Owner's interest and tenant's improvements
Records who insures which fittings in the property.
- Owner's interest: your own investment
- Tenant's improvements: alterations by the tenant
- For a flat, alongside the VvE policy
- The tenant's business contents fall outside it
Liability and environment
For damage to third parties originating from the property.
- Strict liability under Article 6:174 of the Dutch Civil Code
- Injury to tenants and visitors
- Clean-up costs through environmental damage insurance
- Not covered on a private AVP
What is covered
| Situation | Private buildings | Business buildings |
|---|---|---|
| Letting one home while living elsewhere yourself | Provided that | Yes |
| Several properties or a property held in a private limited company | No | Yes |
| A home with business premises or a shop on the ground floor | No | Yes |
| Loss of rent during repairs after a covered claim | No | Provided that |
| Burglary and water damage during a long period of vacancy | No | Provided that |
| Clean-up costs after soil contamination | No | No |
Which extensions, clauses and excess apply to you is set out in the policy conditions and the insurance card (verzekeringskaart) you receive before taking out cover.
Four points about let property
Where cover pinches in practice with properties let to third parties.
Private or business is not a formality
Insurers look at how the property is actually run. Several properties, letting through a private limited company, room letting or a mixed use with business premises take the risk into the business domain. A private buildings policy that is not set up for that then provides no cover. The sum insured is also determined differently: with commercial property a valuation is used more often, with Article 7:960 of the Dutch Civil Code fixing the value for an agreed period.
A vacancy is the biggest risk to your cover
During a vacancy, after a period stated in the conditions the cover falls back to a limited cover: usually fire, lightning, storm and explosion. Theft, vandalism, broken glass and water damage are then no longer insured, while an empty property is particularly vulnerable to them. Report a vacancy actively and discuss management measures such as keeping the property heated, periodic checks, anti-squat occupation or draining the pipes. On that basis some insurers keep wider cover in place.
What is not covered
Usually excluded are deferred maintenance, subsidence, foundations and pile rot, wear, design and material faults and damage caused by slow-acting damp, mould or vermin. Rent arrears and rent lost through a vacancy are not an insured risk; loss of rent cover only pays for lost income after an insured loss. Damage caused by a a cannabis plantation is almost always excluded, as is environmental damage and clean-up costs on the buildings policy. Intent and recklessness are excluded under Article 7:952 of the Dutch Civil Code.
Record the interests in the contract
Who insures which fittings should appear from the tenancy agreement. Alterations made by the tenant fall under tenant's improvements and belong on the tenant's own policy. What you as owner have installed and let with the property falls under the owner's interest. With a flat the VvE (Dutch owners' association) insures the building under the rules (Article 5:112 of the Dutch Civil Code), often on the basis of the original handover. Require the tenant in the contract to take out their own contents and liability insurance and check that periodically.
What does your premium depend on?
- Rebuild value or valuation: the main basis for calculation
- Use of the premises: residential, retail or business premises
- Type of letting and tenant profile: standard, room by room or short-stay
- Vacancy and management: how the property is watched over
- Construction type, year of construction and maintenance: materials, roof and installations
- Extensions and the excess: glass, loss of rent, vandalism
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.
When do I need business buildings insurance?
As soon as you own several properties, the property is held in a private limited company, you let rooms or the property has a business use. A private buildings policy is intended for homes and assumes occupation by the owner or a single tenant. If in doubt, how the property is actually run is decisive, not the name on the policy.
Is loss of rent covered as standard?
No, that is usually an extension. Loss of rent cover pays the rent missed during the period the property is uninhabitable or unusable after an insured loss, usually with a maximum duration. Rent you miss because of a vacancy, non-payment or a dispute with the tenant is not covered; that is a business risk.
What happens if a property stands empty for a long time?
After the period stated in the conditions, cover falls back to fire, storm and lightning. Theft, vandalism, broken glass and water damage are then excluded. Report a vacancy immediately and discuss management measures. Similar restrictions often apply during building work, with requirements also set for the contractor and for work involving naked flames.
Who insures the fittings in the let property?
The tenant insures their own business contents and goods, and any alterations they made themselves as tenant's improvements. You insure the structure and what you added and let with the property as the owner's interest. Set out that distinction in the tenancy agreement, because after a loss it is often difficult to reconstruct who installed what.
Is environmental damage included on the buildings insurance?
No. Soil and groundwater contamination and the costs of clean-up are excluded. There is environmental damage insurance for that, which can cover both your own site and damage to third parties. That is particularly relevant for properties with an oil tank, a workshop, a laundry or a hospitality use, and for older properties containing asbestos.
Read more
Within Opstalverzekering
- Opstalverzekeringthe main page
- Alles wat je moet weten over een opstalverzekering voor een studentenhuis
- Og beheer
- Insurance for let homes
- Vastgoed opstalverzekering voor verhuurders alles wat je moet weten in
- Hoe een huurwoningverzekering uw verhuurbedrijf beschermt tegen kosten
- Opstalverzekering verhuur verhuurder
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Is your property portfolio properly insured?
Request a quote without obligation. We check the intended use, the vacancy clauses and the sums insured.
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.