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 situation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
With commercial property, an insurer looks at what goes on inside. Office space, a workshop with welding equipment, a kitchen with a deep-fat fryer or the storage of plastics and batteries lead to entirely different fire assessments, while the building stays the same.
This policy therefore comes down to two things that are within your control: a tenancy agreement that prohibits a change of use without your consent, and a file with which you can show that you also checked it. Without those two you are in the wrong risk class when you claim.
If you let residential rather than commercial space, different rules apply; see insuring a let home.
What does buildings insurance for let premises cover?
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.
The tenant's activity determines the underwriting
With every new tenant, ask what processes take place and what goods are kept there. Plastics, foam rubber, batteries and charging points for forklifts or e-bikes are points an insurer asks about, as is extraction over a fryer. Pass that information on before the tenant moves in. A property accepted as storage but used as a workshop is not insured in the way you think.
A duty to report changes of use in the tenancy agreement
State in the contract that the tenant may not change the use without your written consent and that they must comply with fire safety rules. Also record a right of periodic inspection and use it. Article 7:928 of the Dutch Civil Code places the duty of disclosure at the outset with you. What changes afterwards, you can only report if you know about it. Subletting without your knowledge is the biggest risk here.
Loss of rent does not always run on
The loss of rent section pays the rent you lose for as long as the property is unusable after covered damage, for a period stated in the policy. Watch how this fits with tenancy law: a tenant can claim a rent reduction for a defect under Article 7:207 of the Dutch Civil Code, while your mortgage payments continue. Where the cause is not covered, the section pays nothing.
Waiver of recovery and tenant's interest
If your tenant causes a fire, your insurer can recover the damage from them. If the tenancy agreement contains a waiver of recovery clause, that option falls away and it is often reflected in the premium. Whatever the tenant had installed, such as partition walls, a suspended ceiling or cooling, is tenant's interest and belongs on their policy; your buildings cover does not extend to it.
What does your premium depend on?
Permitted use under the tenancy agreement. Office, storage, workshop or catering each produce their own risk class.
Goods stored. Flammable materials and battery storage count more heavily than dry general goods.
Fire prevention measures. Compartmentation, sprinklers, a fire alarm system and a valid inspection report.
Loss of rent included. The period chosen over which lost rent is paid.
Waiver of recovery against the tenant. If you waive recovery in the contract, the insurer's right of recourse falls away.
Number of tenants in the property. Several users in a multi-let property increase the chance of unknown risks.
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.
My tenant wants to start a workshop. Do I need to do anything?
Yes. A change from office to workshop changes the fire risk and with it the basis on which the property was accepted. Report it to your insurer before the work starts. The insurer can adjust the premium or the conditions, set additional requirements for compartmentation and extraction, or decline the risk. Saying nothing produces a dispute after a claim that you will not win.
Are my tenant's contents insured as well?
No. Your buildings insurance covers the building with everything permanently attached to it. Machinery, stock, office furniture and the features installed by the tenant are their property or their tenant's interest, and belong on their own business contents and goods insurance. Include in the tenancy agreement that the tenant takes out those policies and shows that they are in force.
What happens if the property stands empty between two tenants?
Report that vacancy, even if you are expecting a new tenant. During a vacancy, insurers usually restrict cover for burglary, vandalism and water damage, leaving fire, storm and lightning. What that involves is set out on the page about buildings insurance for an empty property.
Am I liable for injury to my tenant's staff?
As the owner of the building you are, where the injury arises from a defect in the property itself. That follows from Article 6:174 of the Dutch Civil Code. Think of a floor giving way, a defective roller shutter door or a loose facade panel. For working conditions within the business, the tenant is responsible as the employer under Article 7:658 DCC.
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.
