Extended
- Fire and lightning strike
- Storm from force 7 upwards
- Water damage and leakage
- Burglary damage
Portfolio · loss of rent · vacancy
Buildings insurance for property
Anyone who lets property insures not one building but a portfolio in which use, rental income and vacancy differ from one property to the next.
- 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: Gebouwenverzekering voor vastgoed.
Calculate your premium or request a quote
Without obligation; a reply within one working day.
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 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
Buildings insurance for property investors covers your buildings on rebuild value and allows several properties to be brought under one policy, each with its own sum insured and risk profile. That is the essential difference from a private home policy: you are not insuring a home you live in, but a business in which the building is the means of production.
The section most underestimated here is loss of rent. If a building burns out, the rent stops while interest, repayments, VvE (Dutch owners' association) contributions and local charges continue. Loss of rent cover pays the rent lost for a period stated on the policy schedule, from the moment of the loss until the property can be let again. Non-payment by a tenant is expressly outside it; that is a credit risk, not an insured event.
Not covered are deferred maintenance, subsidence and foundation defects, and the additional cost of asbestos removal in so far as it goes beyond repairing the damage itself. Your tenant's contents and fit-out are not yours either; those belong on tenant's improvements cover with the tenant themselves.
What does buildings insurance for property investors cover?
The structure of the cover in three parts, with an overview per situation below.
Comprehensive
Also sudden damage from outside that is not excluded.
- A small mishap while doing DIY
- Unnamed causes
- Less discussion
Basis of value
Rebuild value with a guarantee against underinsurance.
- Rebuild value calculator
- Valuation of unusual properties
- Guarantee on your policy schedule
What is covered
| Situation | Extended | Comprehensive |
|---|---|---|
| Fire and lightning damage | Yes | Yes |
| Storm damage from force 7 upwards | Yes | Yes |
| Water damage from a burst pipe | Yes | Yes |
| Burglary damage to doors and frames | Yes | Yes |
| Drilling through a pipe while doing DIY | No | Yes |
| Subsidence 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.
Loss of rent is a section with a period, not an automatic entitlement
The policy schedule states how many months of lost rent are paid. That period must match the realistic repair time for your most demanding property, including the permit process and demolition. For a listed building or a property in a city centre that is considerably longer than for a readily lettable business unit. Check as well whether the section also applies to a loss where the property remains technically usable but is in fact unlettable, for example after soot or water damage.
Keep the use of each property up to date
A unit that moves from storage to production, or an office floor that becomes a restaurant, changes the fire risk materially. An unreported change of use is an increase in the risk and gives the insurer grounds to adjust payment or end the cover. In a portfolio this shifts unnoticed as tenants change. So check each year, property by property, what is actually going on, and provide in the lease that changes in use must be reported.
As owner you are liable for the structure itself
Under 6:174 DCC you are liable as possessor for damage caused by a defective structure: a loose roof tile, a balcony that gives way, a slippery stairway in the entrance. That is liability towards third parties and does not fall under the fire or buildings policy. For that you need property owners' liability cover . Soil contamination from a leaking tank requires separate environmental damage cover again.
With a portfolio, underinsurance is measured property by property
The proportionality rule is applied to each insured property, not across the whole. One building with too low a sum insured therefore remains a problem, even if the others are amply insured. If you complete a rebuild value calculator correctly for each property or have it valued, you usually get a guarantee against underinsurance and the actual loss is paid. If that guarantee is not on your policy schedule, every claim is paid proportionately, including small events.
A guarantee against underinsurance is stated on your policy schedule
If you fill in the rebuild value calculator correctly, you will usually receive a guarantee against underinsurance: in the event of a claim the actual amount is paid, even if the sum insured turns out to be too low. If that guarantee is not stated on your policy schedule, the proportionality rule applies and, in the event of every claims are paid proportionately.
What does your premium depend on?
- Number of properties and geographical spread — Spread limits the chance of one event affecting several properties at once.
- Use of each property — Residential, office, retail, storage or production each carry their own fire and burglary risk.
- Rebuild value per object — The basis for calculation; established per property with a value calculator or a valuation report.
- Construction type and roof covering — Masonry, steel, timber, sandwich panels and the type of roof covering determine how fire spreads.
- Loss of rent period chosen — The number of months of lost rent you insure, matched to the repair time.
- Vacancy in the portfolio — The proportion of unlet floor space and whether a vacancy arrangement has been agreed.
Insurers weigh these details differently. That is why comparing pays off.
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.
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.
What happens to the cover when a property stands empty between tenants?
On many policies, cover is restricted to fire, storm and lightning after a certain period of vacancy. Water damage, burglary and vandalism drop out precisely during the period when nobody is keeping an eye on the place. For a portfolio with changing occupancy, a vacancy arrangement in the policy is more practical than reporting property by property, because then nothing falls between two stools.
Is loss of rent covered as standard?
Not always. On some policies it is a separate section that you actively choose, on others a limited period is included as standard. Check on your policy schedule whether the section is there and over how many months it runs. It pays the rent lost after a covered loss, not the rent you miss because a tenant fails to pay or leaves.
Who insures my tenant's contents and fit-out?
The tenant themselves. Your buildings insurance covers the structure: walls, roof, floors and anything fixed to the building. Alterations the tenant has had carried out at their own expense fall under their tenant's improvements. Record in the lease who insures what, or a dispute will arise after a fire about who pays for the shop fit-out.
Does this policy cover my liability as owner?
No. Buildings insurance pays for damage to your own properties. If a passer-by is injured because of a defect in the building, that is liability under Article 6:174 of the Dutch Civil Code and you need property owners' liability insurance. The two covers are separate products and are rarely taken out together automatically.
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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.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
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.