Liability
- Damage to third parties
- Employers' liability
- Care, custody and control as an extension
Tenant's improvements in property
As the owner you insure the shell you let. The question is what happens to the fit-out your tenant subsequently screwed into your building.
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- 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
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
- 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
Whatever is fixed to a building passes through accession into the ownership of the owner of the land. That follows from Article 5:20 of the Dutch Civil Code. Legally, your tenant's fit-out is therefore yours. Your buildings insurance however, was taken out on the rebuild value of the premises as you let them, and that calculation dates from before the alterations.
For the landlord this is therefore not a cover question but a contract and administration question: who insures the tenant's improvements, who receives the payment, and what happens at the end of the lease. Set that out in the lease and ask your tenant for the policy schedule each year rather than relying on it.
The mirror image — what a tenant has to declare in terms of business contents, stock and fit-out — we describe on tenant's improvements and business contents in property.
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We compare your business contents insurance 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.
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What do tenant's improvements cover in property?
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?
- Rebuild value including fit-out. The current rebuild value, including what tenants had installed, is the basis of the buildings premium.
- The tenants' use of the premises. Office, retail, catering or production produce widely differing fire risks in the same premises.
- Construction type and compartmentation. Structure, roof covering and fire separations between units determine how far a loss can spread.
- Number of units and vacancy. Empty units carry their own clause with limited cover against burglary and vandalism.
- Prevention and inspections. A fire detection system, firefighting equipment and periodic inspection of the electrical installation weigh in acceptance.
- Excess and period of rent loss cover. The excess chosen and the period over which lost rent is paid feed straight through into 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 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.
Accession makes it your property, not your sum insured
A tenant converting an office floor into production space raises the rebuild value of your premises without your policy schedule moving with it. In a total loss, settlement is on what you declared, and where there is underinsurance the proportionality rule applies: you receive proportionately less, including on the part that was correct. Have the rebuild value established again after major fit-out work.
Two policies on one item lead to overlapping cover
If you insure the fit-out and your tenant does too, there is no double payment. Both policies contain an overlapping cover provision pointing to the other insurer, with the result being an argument at the moment you can least use one. Choose expressly in the lease who carries the tenant's improvements, and then remove that item from the other policy.
What your tenant does in the premises changes your risk
A retail unit that becomes a takeaway with a deep-fat fryer, a warehouse where batteries are stored, a garage that starts spray painting: that is a change in risk and you must report it to your insurer. If you do not, cover can lapse in the event of a fire. Include a permitted use clause in the lease with an obligation to notify you of changes in writing in advance.
At the end of the lease the question becomes sharp
The tenant must in principle reverse any alterations made when handing back the premises, unless you agree otherwise; Article 7:216 DCC governs that right of removal. If you take the fit-out over, whether or not for a payment, it joins your own insurable interest. Record the condition on handover with photographs and only then adjust the policy schedule, before a new tenant moves in.
Frequently asked questions
This is what people ask us most.
Does my buildings insurance cover what the tenant installed?
Only if the rebuild value was established again after that work and the fit-out is in the sum insured. Legally the fit-out is yours through accession, but for insurance purposes what you declared is what counts. If that has not been updated, you are underinsured and every claim is settled proportionately.
What do I put in the lease about this?
Three things: who insures the tenant's improvements and up to what amount, the obligation to produce a valid policy schedule each year, and what happens to the alterations at the end of the lease. Add a permitted use clause requiring the tenant to notify changes of use in writing in advance, so that you can inform your own insurer.
What if my tenant and I have insured the same thing?
Then there is no double payment. Both policies contain an overlapping cover provision pointing to the other insurer, which leads to delay and argument after a loss. So decide in advance who carries the fit-out and have the other party take that item off the policy schedule. We can set both policy schedules side by side.
Do I have to report that my tenant is starting a different business?
Yes. A change of use or activity is a change in risk that you must pass on to your insurer. From office to catering or to battery storage materially changes the fire risk. Failing to report it can cost you cover when a loss occurs, even if the fire turns out to have had nothing to do with that activity.
Every situation is different. For these situations we have a separate page.
- Compare business contents insuranceThe main page
- Tenant's improvements and business contents in propertyWhat you had installed, outside the buildings policy, declaring it
- Business contents and tenant's improvements in let propertyOwner's interest, tenant's improvements, business contents
- Insurance for warehousesStorage, third-party goods, fire
- Tenant's improvements insurance for rented business premisesShell fit-out, ROZ lease, right of removal
- Business contents and goods for self-employed professionalsWorkplace, stock, working from home
- Tenant's improvements, business contents and goods in rented premisesAccession, right of removal, alterations
- Insurance for property ownersPortfolio, tenants, vacancy
- Types of property and their risksHome, office, business premises
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. Last updated on .
The information on this page is general in nature and is not personal advice.