Evolve from Chubb: modular business cover
Evolve is a product name. What counts are the modules chosen, the sums insured per module and the clauses that apply across the whole package.
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- We compare the offerings of several insurers
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- Switching arranged
- Help with claims
In brief
Evolve is the name of a Chubb product line. What it includes is apparent from the policy conditions and the insurance card (verzekeringskaart) that accompany the quotation. We go through those with you before you sign. Finass Advies is an independent broker and compares several insurers, so we assess such a package on content and not on name. The question is always which modules you need and which you are paying for without using.
With modular business policies, the risk lies not in the cover you choose but in the module you do not choose. A package with buildings, contents and liability looks complete, while business interruption, electronics, environmental and cyber cover are missing. A package discount makes the bill lower, not the cover wider. So do not run through the premium but through the risks: what happens to your turnover if the business is closed for three months, and who pays for the clean-up if the store leaks?
The second sticking point is the sum insured per module. For property damage the proportionality rule of Article 7:958(5) of the Dutch Civil Codeapplies: if the sum insured is lower than the actual value, the insurer pays proportionately, including on a small claim. A contents list from the year the business was founded therefore systematically produces a reduced payout. At every renewal, check the values, the indexation and whether additions have been notified.
This page deals with one situation. The full overview is on Compare personal liability insurance (AVP).
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AdviceWhy 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.
What to look out for
Four points that, with a package policy, make the difference between a full and a reduced payout.
Underinsurance feeds through into every claim
The proportionality rule applies not only on a total loss. If your contents are insured for half their value, you will also receive about half for limited water damage. A valuation or a guarantee against underinsurance based on a completed questionnaire removes that risk. Without one of the two you carry it yourself.
Mitigation costs and the duty to limit the loss
If a loss threatens or has just occurred, you are obliged to take measures to limit it. Under Article 7:957 of the Dutch Civil Code the costs of doing so are borne by the insurer, even above the sum insured. If you do nothing when you could have acted, the insurer may reduce the payout by the loss caused as a result.
Reporting changes
Refurbishment, a second site, storing different goods or a property standing empty changes the risk. The policy conditions require you to disclose that and the insurer may then adjust the conditions. Above all, vacancy and a change of use are classic causes of a refused fire claim.
What no module covers
Outside the cover are wear and tear, gradual effects and deferred maintenance, construction and design faults, and intent under Article 7:952 of the Dutch Civil Code. Also fines and penalty payments and loss caused by a cyber incident fall outside traditional modules; for that a business cyber insurance needed.
What does your premium depend on?
- Modules chosen: each section has its own basis
- Sums insured: building, business contents, goods and tenant's improvements
- Construction type and use of the building: materials, fire compartments and neighbouring businesses
- Preventive measures: burglary protection, firefighting equipment and detection
- Turnover and payroll: the basis for the liability and business interruption modules
- Excess per module: may differ per section within the same package
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Basic modules | Extended package |
|---|---|---|
| Fire destroys your warehouse with the stock inside it | Yes | Yes |
| A burglary in which the contents are wrecked and equipment disappears | Yes | Yes |
| The turnover you lose over three months while the premises are being repaired | No | Yes |
| Ransomware disables your till and stock system | No | Provided that |
| A leak in your store contaminates the soil beneath it | No | Provided that |
| A crack in the floor caused by subsidence of the foundations | No | No |
What you see marked No in this overview has not become more expensive but simply has not been bought. That only becomes clear when you claim.
Reviewed by the advisory team of Finass Verzekert · LinkedIn
Finass Advies B.V. · AFM licence 12016589 · Chamber of Commerce 37131781
AFM licence for: Adviseren en bemiddelen in schadeverzekeringen particulier, Adviseren en bemiddelen in schadeverzekeringen zakelijk
Last reviewed on
This page was written and reviewed by advisers of a firm licensed by the AFM (Wft). Advice and policies are always handled by an adviser, never automatically.
Frequently asked questions
This is what people ask us most.
Is a package cheaper than separate policies?
A package usually produces a discount and saves administration, with one contract date and one renewal. The drawback is that you are tied to one insurer for every section, including the section in which that insurer is less competitive. So we compare not only the package as a whole, but also the individual elements against the best alternative.
How do I avoid underinsurance?
By keeping the values up to date and recording them. For buildings a rebuild value assessment works, for contents and goods a recent list of replacement values. Many policies offer a guarantee against underinsurance if you complete a questionnaire or have a valuation carried out. That guarantee lapses if the details are no longer correct. Review the amounts with every expansion.
What is not covered when the contents are damaged?
Damage from wear, slowly operating influences, vermin and deferred maintenance is excluded, as is inherent defect in the damaged item. Damage caused by a construction fault in the premises falls to the builder's responsibility. Gradual leakage you could have noticed is also refused; only a sudden and unforeseen event leads to a payout.
When do I have to report a claim?
As soon as reasonably possible. Article 7:941 of the Dutch Civil Code requires you to report as soon as you are aware of the loss and to provide the information the insurer needs. In the meantime, limit the loss; under Article 7:957 DCC those mitigation costs are borne by the insurer. Do not throw damaged items away before an expert has seen them.