Third-party liability per vehicle
- Damage to third parties and injury
- Compulsory under Article 2 of the Dutch Motor Insurance Liability Act (WAM)
- Visible per registration at the RDW
- During short test drives as well
Insuring a classic car portfolio
Anyone who owns several classic cars gets stuck with separate policies carrying different renewal dates, differing conditions and a different basis of value every time. A portfolio policy brings the vehicles under one contract with a recorded value for each object.
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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 activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
- Independent advice
- Several insurers
- Switching arranged
- Help with claims
In brief
A classic car portfolio is a contract carrying several classics, each with its own agreed value and all under shared conditions. That saves administration, but the real advantage lies in the coherence: one set of provisions on storage, drivers and use, one renewal date and one point of contact after a loss. A joint mileage allowance is often used instead of a limit per car, because in practice not every vehicle covers the same distance.
The basis of value is the same as for a single classic: a valuation report for each vehicle, incorporated into the policy, so that under Article 7:960 of the Dutch Civil Code the value established is the starting point after a loss. With a portfolio there is an organisational requirement on top: the vehicle list must be up to date. A car that has been bought but not yet added is not covered in a fire in the storage, even where the rest of the collection is.
For the road the insurance obligation under Article 2 of the Dutch Motor Insurance Liability Act (WAM) applies in full for each registration. If the collection is held through a company, there is the further question of who drives and in what capacity: employees, guests at an event or a haulier's driver. Each of those situations needs its own provision in the policy, because the standard clause 'the policyholder and members of his household' does not cover them.
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What does a portfolio policy consist of?
Three building blocks, and beneath them a comparison between separate policies and one portfolio contract.
Own-damage cover on an agreed value
Own-damage cover per vehicle, with a value fixed in advance from a valuation report.
- Its own sum insured per object
- Based on Article 7:960 of the Dutch Civil Code
- Revaluation at fixed points
- Keeping the vehicle list up to date
The collection at rest
Cover for fire, theft and water damage in the space where the collection stands.
- Requirements for intruder and fire detection
- Separation between vehicles
- External storage to be declared separately
- Hot work excluded
What is covered
| Situation | Separate policies | Portfolio |
|---|---|---|
| One renewal date and one set of conditions | No | Yes |
| A fixed insured value per vehicle | Provided that | Yes |
| A joint mileage allowance for the collection | No | Provided that |
| A newly bought vehicle covered straight away | No | Provided that |
| Cover during transport between storage locations | No | Provided that |
| Hire or sale from the collection | 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?
- Total valued amount: the total for all properties
- Number of vehicles and their spread: concentration at one address
- Storage and security: detection and fire separation
- Combined mileage: how much is actually driven
- Circle of drivers: owner, employees or guests
- Excess per event: a higher excess lowers the premium
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.
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.
What it comes down to with a portfolio
Four points that work differently with several vehicles than with a single classic.
The vehicle list is the heart of the policy
The policy carries a list of chassis numbers, registration numbers and sums insured. If that list is wrong, a gap opens up in exactly that place. Agree therefore on automatic cover for new acquisitions: a period during which a new acquisition is automatically included up to a stated amount, provided you notify it within an agreed time. Arrange as well what happens when a vehicle is sold. An object that has been sold but stays on the list costs premium with no insurable interest. An acquisition that is not on it is uninsured.
Storage: the greatest concentration of risk
With a collection the value is concentrated at one address. Insurers therefore set requirements for the space: intruder detection with remote signalling, fire detection, a ban on welding, grinding and charging batteries in the same space, and sometimes a minimum distance between vehicles or a fire-resistant separation. These requirements appear as a warranty clause in the policy. After a fire the first question the loss adjuster asks is whether they were met. If part of the collection is stored externally or temporarily exhibited, report that in advance; those locations are not automatically covered.
What is not covered
The following, among others, are outside the cover: trading stock and vehicles held for sale: those need a garage or motor trade stock policy, not a collector's policy; hire and paid use by third parties, including use as a wedding car or for filming for a fee; and rust, wear and mechanical defects without a collision. Speed, regularity and manoeuvring events are excluded as well, and the exclusion for deliberate acts and recklessness in Article 7:952 of the Dutch Civil Codeapplies. Damage arising at a restorer or a haulier generally falls under that firm's liability under Article 6:162 of the Dutch Civil Code.
Drivers, events and duties to report
Set out who may drive: the owner only, employees as well, or guests at an event too. A limited circle of drivers brings the premium down but ties you to the arrangement. If someone drives who does not fall within it, an own-damage claim can be refused while the third-party liability cover towards the victim remains in place. On entering into the contract, the duty of disclosure in Article 7:928 of the Dutch Civil Code applies to use, storage and claims history. An incorrect declaration can cause the payment to be lost (Article 7:930 of the Dutch Civil Code). You report a claim as soon as reasonably possible (Article 7:941 of the Dutch Civil Code).
Frequently asked questions
This is what people ask us most.
When is a portfolio policy worthwhile?
As soon as you own more than a few classics and keep them at the same address. The gain is not only in the premium but above all in the consistent conditions: one definition of storage, one driver clause and one rhythm of revaluation. With separate policies, gaps arise precisely between the contracts, for example during transport between two locations or with a car standing temporarily at a restorer.
Is a newly bought car insured straight away?
Only if the policy provides automatic cover for new acquisitions. That covers an acquisition for an agreed period up to a stated maximum amount, on condition that you notify the vehicle within that period with its chassis number and value. Without such a provision a car is covered only once it appears on the vehicle list. Report a purchase the same day, therefore, even where the valuation still has to follow.
What is the difference from a motor trade stock policy?
A collector's policy assumes ownership and use, a motor trade stock policy assumes buying and selling. If vehicles are held in order to be sold, that is a business activity with a different risk profile: test drives with unknown drivers, changing stock and liability arising from the sale. That activity falls outside a portfolio policy. If you mix the two, report it, otherwise argument arises about the basis.
How often does a revaluation have to be carried out?
The policy decides that, usually with a fixed period of a few years per object. With a collection it is practical to bring the revaluations into line, so that the whole list is brought up to date at once. If a report expires without renewal, the insurer generally pays market value for that vehicle, even though the other objects have been valued.
Are parts and tools in the storage included?
Not automatically. Spare parts, engines, tyres on racking and workshop equipment fall outside the vehicle cover and belong on business contents or goods cover. With a collection that stock can represent a considerable value. Have it included separately, with its own sum insured and a description of the storage location.
What if a vehicle goes to an exhibition?
Report it in advance. Both the transport and the stay at the exhibition venue fall outside the standard storage cover. For carriage in an enclosed trailer, cover is generally possible provided the carrier and the route are known; where a professional haulier carries the vehicle, that firm's own liability applies as well. Record in writing who bears the risk at each stage.
Every situation is different. For these situations we have a separate page.
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Your collection on one policy?
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Prefer to call? 072 - 509 24 56, weekdays 09:00–17:00.
Claim on the road? Emergency line 06 - 55 20 40 72.
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.