Business contents insurance for construction firms
In a construction business the contents rarely stand still: plant shuttles between the warehouse, the trailer and the site, while the policy in principle covers only the address.
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
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
The business contents of a construction business includes the workshop machinery, scaffolding and shoring, formwork, boxed and hand tools, the workbenches and the fit-out of the office and site hut. The goods are the building materials you keep in stock. The insured address is the warehouse or the business site; anything not there is not automatically covered by the policy.
That is the point where this insurance falls short more often for a construction business than for a shop or an office. Plant on site, in the trailer or in a temporary storage container needs separate cover away from the address. The works in progress themselves do not belong here but on a Construction all risks (CAR) insurance; check that dividing line, otherwise you pay twice or not at all.
Standard exclusions are theft without signs of forced entry from an open warehouse or container, plant standing in the open air, wear and tear and inherent defect of a machine, and plant you hire or lease from someone else. Report claims within the period stated in the conditions and report the matter to the police; that duty to notify is set out in Article 7:941 of the Dutch Civil Code.
What does business contents insurance cover for construction businesses?
The structure of the cover in three parts, with an overview per situation below.
Your business assets
Business contents
Machinery, equipment, furniture and fixed fittings.
At replacement value as new
Fire, water and burglary
Tenant's improvements separately
Stock
Goods
Trading stock, raw materials and finished products.
Purchase value or cost price
Declare seasonal peaks
Spoilage as an extension
Optional
Extensions
What is excluded as standard.
Third-party property
Money and securities
Business interruption
What is covered
Situation
Business contents
Goods
Fire and smoke damage
Yes
Yes
Burglary with signs of forced entry
Yes
Yes
Water damage from a burst pipe
Yes
Yes
Customers' property being worked on
No
No
Spoilage due to refrigeration failure
Sometimes
Sometimes
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 warehouse stands empty in the evenings and at weekends
Construction plant is readily saleable, neither identifiable nor registered, and goes in a single van load. Insurers therefore look at the burglary resistance of the roller door and the sectional door, at the fencing around the site, at outdoor lighting and at an alarm connected to a monitoring centre. Anyone keeping copper, cable and cordless tools in the warehouse faces stricter requirements. Theft leaving no signs of forced entry is almost never paid for.
What is on site falls under a different policy
Construction all risks (CAR) insurance covers the works in progress and usually also ancillary materials, site huts and temporary facilities on the job. Your business contents insurance covers the business address. Between the two there is a seam: tools you take to the job. Arrange expressly which policy carries them, because when a loss occurs both insurers point at each other and you are caught in between.
Hired and leased plant is not yours
If you hire a telehandler, a plate compactor or an access platform, that is not your own business contents but plant in your in your care. Almost every hire contract places the risk with the hirer, while the care, custody and control exclusion in your liability insurance takes it out again. Arrange a separate section for hired plant or have the hire company confirm in writing that it keeps the risk.
What is not included
Outside the cover remain wear and tear and inherent defect of machinery, plant standing unprotected in the open air, fuel and oil in tanks including the soil contamination that follows, and money. A machine you overloaded yourself is also not an insured loss. Update the sum insured after every major purchase: with underinsurance payment is proportionate, even for small claims.
What does your premium depend on?
Construction type and burglary resistance of the warehouse. Roller door, sectional door, windows and the fencing of the site determine acceptance.
Alarm and camera surveillance. A monitoring centre connection and surveillance of the outdoor area weigh heavily with theft-prone plant.
Composition of the plant. Fixed workshop machinery is assessed differently from loose cordless machines and hand tools.
Cover away from the address. Including the site, trailer and temporary storage raises the premium noticeably.
Stock of building materials. The presence of copper, cable and batteries counts for more than the amount alone.
Claims history and excess. Earlier thefts feed through into the premium. A higher excess pushes it back down.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your activities, turnover 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.
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.
Not automatically. Business contents insurance covers the business address stated. For plant on the job you need cover away from the address, or a separate plant policy. Even then requirements apply: storage in a locked container or hut, demonstrable forced entry in the event of theft and sometimes a maximum per event. Check this before you set up the first site.
What is the difference from construction all risks (CAR) insurance?
CAR insurance is about the work you produce: the structure under construction, the materials incorporated in it and the damage arising during construction. Business contents insurance is about your own business assets at your own address. They do not overlap and they do not automatically complement each other either. The seam between them is for you to close.
I am hiring a crane. Who insures it?
Look at the hire contract first. Hire companies almost always place the risk of damage, theft and loss with the hirer. Your liability insurance in fact excludes items in your care, custody and control. So you need a separate section for hired plant, or written confirmation that the hire company keeps the risk itself.
There has been a break-in without signs of forced entry. Will that be paid?
Usually not. Almost all property policies require demonstrable signs of forced entry to the premises or the storage space in the event of theft. If plant disappears without those signs, it is treated as a disappearance and not as covered theft. Always report it to the police immediately and notify the claim within the period stated in your conditions. That follows from Article 7:941 of the Dutch Civil Code.
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.
