Liability
- Damage to third parties
- Employers' liability
- Care, custody and control as an extension
Management · keys · liability
Insurance for property managers
As a property manager you own nothing of what you manage, and that is precisely why your liability is of a different kind from the owner's.
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Deze pagina in het Nederlands: Verzekeringen voor vastgoedbeheerders.
Calculate your premium or request a quote
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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
A manager acts for someone else's account. Strict liability for the building itself rests under Article 6:174 of the Dutch Civil Code with the possessor, not with you — but the way you manage that building is judged against the standard of care under your instructions. A missed rent increase, a lease not terminated in time, an expired notice period, a fire alarm inspection overlooked or maintenance advice that was wrong costs the owner money without anything being broken. That is pure financial loss and it falls outside every AVB.
Your core policy is therefore professional indemnity insurance, which works on a claims made basis: what matters is the moment the claim reaches you, not when you made the mistake. In property management it often takes years for a mistake to come to light — at a sale, a valuation or a change of owner. Retroactive and run-off cover are therefore not a detail here but the heart of the product.
The daily work also carries risks that have nothing to do with advice: key management for hundreds of properties, access to empty buildings, directing contractors and holding third-party money. If you also manage owners' associations, the position of the board comes into play as well; that is set out on directors' and officers' liability in a VvE. What the owner has to arrange is on the property page.
What does insurance for property managers cover?
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.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
Your mandate determines how far your liability reaches
Do you advise the owner, or do you decide independently under a power of attorney? Where you have a mandate, you carry the consequences of decisions you took without reference back. Set out the scope of the instructions in writing: what amounts you may spend yourself, which decisions have to be put to the owner and what falls outside the instructions. Without that demarcation you will be held responsible for choices the owner made, and your file is the only defence you have.
Deadlines are the most common management error
Notices to terminate, notices of continuation, indexations, option years, extensions and the period for a rent review are hard deadlines: miss a date and the consequence is irreversible and immediately expressible in money. Work with a monitored diary system with double alerts and record confirmation of every dispatch. Insurers ask about this expressly; a demonstrable deadline monitoring system is one of the heaviest factors in acceptance.
Keys and access are a risk in their own right, not a side issue
If a key or an access pass is lost, the loss is rarely the key but the recertification of a master suite for a whole complex. That is pure financial loss, and most policies exclude key loss or limit it to a modest amount. Ask about it expressly. Also work with a record of keys issued and returned, and with temporary codes instead of physical keys where you can.
Properties you manage fall under the care, custody and control clause
Everything in your custody — an empty building whose key you hold, a home between tenants, stored contents — falls under the care, custody and control exclusion in the AVB. Damage to the building you manage is therefore not automatically covered. fraud or embezzlement by your own staff, for instance involving client money or rental income, also falls outside liability cover; there is separate fraud cover for that.
What does your premium depend on?
- Volume managed — The number of properties or letting units under management is the main measure; the number of deadlines and actions scales with it.
- Type of management — Technical management, financial management, commercial management and owners' association management each involve different kinds of mistake and are weighted separately.
- Scope of the mandate — Do you decide independently on the owner's behalf or do you only advise? The wider the power of attorney, the more heavily your professional indemnity weighs.
- Handling client money — Collecting rents and holding balances for owners or owners' associations brings a fraud and accountability risk that is assessed separately.
- Deadline monitoring and record-keeping — A demonstrable system with double alerts on rent deadlines and inspections reduces the risk of loss and works through into the premium.
- Retroactive and run-off periods — On a claims made basis the retroactive date chosen and the length of the run-off period after termination account for a large part of the premium.
Insurers weigh these details differently. That is why comparing pays off.
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.
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.
Which policy covers a missed notice to terminate a lease?
Professional indemnity insurance. Nothing is damaged and nobody is injured; the owner suffers purely financial loss and that is pure financial loss, which is excluded on an AVB. Note how claims made cover works: what matters is when the claim reaches you. Past mistakes are only covered if retroactive cover has been agreed.
As a manager, am I liable for a defect in the building?
Strict liability for the structure rests under Article 6:174 of the Dutch Civil Code with the possessor, so with the owner. You are judged on your own conduct: did you know of the defect, did you warn the owner and did you record that? A defect reported in writing on which the owner did not act shifts responsibility back to them.
Is key loss insured?
Often not, or only up to a limited amount. The real cost lies not in the key but in recertifying a complete master suite, and that is pure financial loss. Ask expressly about this section and its limit when you take out cover. Recording keys issued and returned, and digital access with revocable codes, limit the risk most effectively.
What if an employee embezzles rental money?
Fraud and embezzlement by your own staff are excluded on both the AVB and professional indemnity insurance; those policies cover mistakes, not deliberate acts. There is separate fraud or embezzlement cover for that. Particularly where you hold client money, a separation of duties between who pays and who books entries is a condition insurers impose.
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 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.