De Goudse's buildings insurance
A shop with a flat above it, or an office that a workshop moves into: in SME premises the use changes faster than the policy. It is precisely that change that determines whether you are paid.
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In brief
Many SME premises are mixed use: a shop or restaurant below, one or more flats above, sometimes storage at the rear. For the insurer that is one building with different risks. The fire risk of a fryer then also determines the premium and conditions for the flat above. If your policy says only 'retail premises' while cooking or welding now goes on there, the description no longer fits.
The policy wording is not a formality. Article 7:928 of the Dutch Civil Code requires you to disclose everything of importance to the insurer when taking out the policy, and Article 7:930 of the Dutch Civil Code determines what happens if that information is wrong: for a risk the insurer would never have accepted, payment lapses; where different conditions would have applied, payment is made proportionately. So report a new tenant, a change of use or conversion work before it takes effect.
Finass arranges De Goudse buildings cover and compares several insurers objectively. The choice follows from the actual use of the premises, not from the description in the land register. With mixed-use premises we look at the same time at the glass insurance for the shop frontage and at business interruption; the general explanation is on the hub page.
This page deals with one situation. The full overview is on Compare commercial buildings insurance.
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What to look out for
Four points on which mixed-use SME premises differ from an ordinary business building.
The heaviest use determines the conditions
In a building with several functions, the highest risk counts for the whole. If a restaurant, a salon with heat treatments or a workshop moves into the commercial part, that also changes acceptance of the flats above. Insurers then set requirements as to extraction, grease filters, fire-resisting separations and a separate entrance to the upper floor.
Reporting a change of tenant and conversion work
A new tenant is a change in the risk. So is breaking through a fire-resisting separation, installing a new kitchen or bringing the loft into use for storage. Give that notice in writing and in advance and keep the confirmation; explaining afterwards that the insurer 'knew about it' rarely helps when you claim.
Vacancy and temporary use
If the commercial part or the flat above stands empty for a longer period, most policies restrict cover after a period stated in the conditions to fire, storm and lightning. Burglary, vandalism, frost damage to pipework and water damage then drop out. Property guardianship or temporary letting is a risk profile of its own that has to be reassessed.
What stays outside the cover as standard
Even properly declared premises have exclusions: deferred maintenance, inherent defect, subsidence and foundation damage, vermin, mould and gradual action of damp. Flooding from a primary flood defence and earthquake are also excluded, and damage caused deliberately falls away under Article 7:952 of the Dutch Civil Code. A cannabis nursery in the let part almost always leads to a refusal as well.
What does your premium depend on?
- Functions within the building: living above a restaurant weighs more heavily than living above an office
- Rebuild value and indexation: including the residential part and the common areas
- Year of build and fire-resisting separations: a separate entrance to the flat lowers the risk
- Glass area of the frontage: and whether that glass is included
- Vacancy or changing tenants: affects both the premium and the extent of cover
- Loss prevention and excess: smoke alarms, fire extinguishers and burglary protection
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Extended | Comprehensive |
|---|---|---|
| A pan fire at the takeaway below. The flat above suffers smoke and soot damage | Yes | Yes |
| A storm lifts roof tiles and rain comes into the upper floor | Yes | Yes |
| An employee drills into a water pipe while putting up shelving | No | Yes |
| The tenant above leaves the bathroom tap running and the shop ceiling gives way | Yes | Yes |
| A graffiti artist works over the side wall of the building at night | Provided that | Provided that |
| The wooden window frames at the rear turn out to have rotted away over the years | No | No |
With mixed-use premises the insurer looks, claim by claim, at the part of the building and at the use taking place there.
Frequently asked questions
This is what people ask us most.
Do I have to report a new tenant to the insurer?
Yes, if the use changes. Office space let to a caterer is a different risk for the insurer from the situation that was accepted. If you do not report it and a fire occurs, the insurer can reduce or refuse payment under Article 7:930 of the Dutch Civil Code. Include an obligation in the lease requiring changes of use to be reported to you.
Is the flat above included on my commercial policy?
That depends on the wording of the policy schedule. With mixed-use premises the whole building can sit on one commercial buildings policy, including the residential part. If you let the flat separately, check that the occupier's home contents and tenant's improvements fall outside your cover. The occupier insures those themselves. Set the division down in writing.
What happens when the retail space is converted?
Report it in advance. During conversion work, restrictive conditions often apply, because hot work, open walls and materials on site increase the risk. Damage to the works in progress themselves belongs on a construction all risks (CAR) policy. If the rebuild value rises because of the work, adjust the sum insured straight away to avoid underinsurance.
Will I be paid the rent I lose after a fire?
Only if loss of rent is included as a section or if you have business interruption cover. Buildings insurance pays for repairing the premises, not for the income lost while they are unusable. Choose an indemnity period that covers the permit process and the rebuilding time together, because for inner-city premises that takes longer than expected usually.
Every situation is different. For these situations we have a separate page.
- Buildings insurance (opstalverzekering) and commercial buildings insurance (gebouwenverzekering): the same or not?The main page
- Buildings insurance (opstalverzekering) for let propertyVacancy, loss of rent, owner's liability
- Buildings insurance for businessesRebuild value, what counts as part of the building, clearing-up costs
- a.s.r.'s buildings insurancePrevention, warranty clauses, fire safety
- Buildings and premises insurance for propertyRebuild value, loss of rent, glass