Liability
- Damage to third parties
- Employers' liability
- Care, custody and control as an extension
Liability for budget coaches
A budget coach works with time limits, creditors and mandates. That is where the risk sits, not in the conversation itself.
- several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
This page in another language: Nederlands
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.
- Independent advice
- Several insurers
- Switching arranged
- Help with claims
In brief
What goes wrong in budget coaching can almost always be traced back to a date or a calculation: a period for responding to a creditor that expires, a protected earnings level set too low, a payment arrangement the client could never afford. Nothing is broken and nobody is injured, but the client is out of pocket. That is pure financial loss and it falls on the professional indemnity insurance, not on the public and employers' liability insurance.
The second line is the licensing boundary. Coaching on spending patterns, a household budget and writing to creditors is allowed without a licence. Advising on taking out or switching a credit agreement, a mortgage or an insurance policy requires a licence under the Dutch Financial Supervision Act (Wft). Virtually every policy excludes loss arising from activities for which the required licence or registration was missing. Watching that boundary is therefore not a formality but a condition of cover.
If you also work as a budget manager, with a mandate over the client's account, the nature of the risk changes: money passes through your hands. Misappropriation or fraud by you or an employee is excluded from the liability cover and calls for a separate arrangement. See also liability for coaches, where the risk is personal rather than financial.
Independent, personal, sorted quickly
We compare your personal liability insurance (AVP) across dozens of insurers, explain where the real differences lie, and arrange the switch from start to finish — without you having to chase it yourself.
Personal liability insurance (AVP)Photo coming soon
ComparePhoto coming soon
Get coveredPhoto coming soon
What does liability cover include for budget coaches?
The structure of the cover in three parts, with an overview per situation below.
Assets and continuity
Business contents, goods and lost turnover during downtime.
- Business contents at replacement value as new
- Goods at cost price
- Business interruption or additional costs
Staff
Sickness absence, accidents and the traffic risk.
- Continued pay for 104 weeks
- Group personal accident
- WEGAS for traffic risks
What is covered
| Situation | AVB | BAV | Cyber |
|---|---|---|---|
| Injury to a visitor or customer | Yes | No | No |
| Damage to a client's property | Sometimes | No | No |
| Financial loss caused by an advisory or calculation error | No | Yes | No |
| Downtime after a ransomware attack | No | No | Yes |
| Data breach involving personal data | No | Sometimes | Yes |
| Damage to property in your care | No | 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.
What does your premium depend on?
- Coaching, management or both. Management with a mandate over accounts weighs more heavily than guidance alone.
- Clients. Private individuals, employers or local authorities; local authority work comes with contractual requirements of its own.
- Number of cases running each year. More cases means more deadlines that have to be monitored.
- Annual turnover. The usual basis for calculating the premium for professional indemnity cover.
- Sum insured and excess. The amount per claim and per year, and what you bear yourself on each notification.
- Retroactive and run-off cover. Cover for mistakes made before the start date and for claims after your practice ends.
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.
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.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
The Wft boundary determines whether you have cover
As soon as you recommend that a client switch a loan, cancel an insurance policy or buy a product, you are acting as an intermediary or adviser within the meaning of the Wft. Without a licence that is an enforcement matter and at the same time a cover problem, because your policy excludes those activities. Set out in your agreement what you do and do not do, and refer clients to a licensed adviser for product choices.
Time limits and the protected earnings level
A missed period for objection, income data supplied incorrectly or a protected earnings level set too low costs the client money straight away. Record for each case who monitors which deadline, have the client sign where possible and keep the source documents you based your calculations on. When a claim arises, that file is the difference between showing that you worked carefully and assuming that you did.
Budget management is not the same as budget coaching
With management you receive a mandate over an account and make payments yourself. That brings risks coaching does not have: a payment to the wrong account number, a fixed cost not paid that leads to a supply being cut off, and the risk of money being taken. State expressly on your application that you manage accounts. If only coaching is declared, the insurer can rely on Article 7:928 of the Dutch Civil Code.
What is not covered
Outside the cover are: fines and orders subject to a penalty from a regulator, loss arising from activities for which you lacked the required Wft licence, and money taken from clients by you or an employee, because intent is excluded. Redoing your own work and refunding your fee are also not a loss but your own performance of the contract.
Frequently asked questions
This is what people ask us most.
May I advise a client to switch their loan?
Not without a Wft licence. You may map out what the outgoings are and what the consequences of different scenarios would be, but advice to take out or change a specific product is reserved for a licence holder. Refer the client on and record the referral. If you do it yourself anyway, your policy will almost certainly exclude the resulting loss.
Which insurance covers a missed deadline?
Professional indemnity insurance. A missed deadline produces financial loss without anything being damaged, and that is exactly the kind of loss public and employers' liability insurance excludes. When taking out the policy, watch the notification requirement: for a claim or a circumstance that could lead to a claim, the duty to give notice under Article 7:941 of the Dutch Civil Code applies, and usually a short period in the conditions.
Am I liable if an arrangement fails?
Not automatically. Your obligation is one of effort: you have to calculate carefully, act in good time and inform the client fully about the risks. If the arrangement fails because the client supplied incorrect information or did not keep to what was agreed, that is down to them. That is why recording in writing what you asked for and what you received back matters so much.
What if an employee takes money from a client?
That is not a liability loss within the meaning of the policy, because deliberate acts are excluded. The client can hold you liable as the employer, though. There is separate fraud or money insurance for this risk. If you work with mandates, also consider a separation of duties and four-eyes approval for payments; insurers ask about that when underwriting.
Every situation is different. For these situations we have a separate page.
- Compare personal liability insurance (AVP)The main page
- Liability for coachesThe boundary with healthcare, referral, confidentiality
- Liability for administrators (bewindvoerders)Accounting to the court, the subdistrict court, assets
- Liability for bailiffsOfficial acts, time limits, professional discipline
- Liability for remedial teachersDiagnosis, boundaries, referral
- Liability for debt collection agenciesWki, unjustified claim, data
- Liability for life coachesNot treatment, referral, confidentiality
- Liability insurance for secretarial servicesTime limits, correspondence, confidentiality
- Types of business liability insuranceAVB, BAV, directors, cyber
Read more
Ready to compare?
Request a quote without obligation. We will look at which insurer best matches your activities and your risk.
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.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
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.