What you need
- Income details
- Value of the collateral
- Overview of obligations
Financing commercial property
With commercial property the rental income repays the finance, and that is why loss of rent is central here rather than household affordability.
- 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 · Deutsch
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.
- 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
A lender on commercial property looks first at the operation: which tenants are in place, how long the contracts run, how readily lettable the property is and what it costs to relet a square metre that becomes vacant. The intended use and the tenant's trade weigh more heavily here than for a home, because they determine how quickly a property comes back into use.
That same operational logic determines the insurance. If the property burns down, not only the building is lost but the rent as well, while interest and repayments continue. Loss of rent is therefore not a side issue but the element that keeps the finance standing. Also, as owner you bear liability for the building itself under Article 6:174 of the Dutch Civil Code.
We do not provide finance. The buildings insurance for commercial property and the glass cover that goes with such a property we do arrange for you.
Insurance never stands alone
A mortgage, loan or investment often touches your insurance too. We look at the bigger picture and point you to the right specialist whenever something falls outside insurance itself.
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What does financing commercial property cover?
The structure of the cover in three parts, with an overview per situation below.
What it costs
What is often forgotten.
- Advice and arrangement fees
- Valuation and notary
- Property transfer tax
What goes with it
What the lender requires.
- Buildings insurance compulsory
- Sometimes term life cover
- Interested party on the policy
What is covered
| Subject | Explanation |
|---|---|
| Advice is independent | Yes |
| We compare several providers | Yes |
| We arrange credit ourselves | No |
| Referral to a specialist party | Yes |
| A first conversation without obligation | Yes |
| Costs clear in advance | Yes |
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?
- Construction type and fire-resistant separations. Compartmentation and roof covering determine how large a fire can become.
- Intended use and trade of the tenants. Office, storage, catering and production carry very different risk classes.
- Rebuild value and floor area. The basis for the sum insured and for the guarantee against underinsurance.
- Fire detection system and security. Certified detection, sprinklers and burglary protection reduce the premium.
- Indemnity period for loss of rent. The longer the period chosen, the higher the premium for that element.
- Vacancy and the property's claims history. Earlier claims and vacant square metres count towards acceptance and 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.
Loss of rent is the element that carries the finance
After a fire or serious water damage the property is unusable for months and the rental income stops, while your obligations to the lender continue. Loss of rent cover pays the rent lost during the agreed indemnity period. Note the limit: it only covers loss of rent following physical damage. Non-payment by a tenant, insolvency or ordinary vacancy is not covered.
Liability as the owner of the building
Under Article 6:174 of the Dutch Civil Code you are liable as possessor for damage caused by a defective structure, even without fault: a facade panel coming loose, a balcony railing giving way, a faulty escalator. That liability is not in the buildings policy but in a liability policy. For injury to your own organisation's staff, the employer's standard of Article 7:658 DCC also applies.
Intended use and actual use are conditions of acceptance
An insurer accepts the property on the basis of the use declared. If a catering business with a deep fryer, an accident repair business or storage of hazardous substances moves in, the risk changes materially. That is a change in risk which you must disclose. Include in the tenancy agreement that the tenant must give advance notice of a change of use; failure to disclose can cost you the cover.
Asbestos, soil and installations largely stay outside the policy
Buildings insurance pays for rebuilding, but not for everything that goes with it. Clean-up costs for asbestos are generally limited or excluded, soil contamination falls under separate environmental damage insurance, and damage to climate control and refrigeration installations from inherent defect or wear is not covered. Your tenant's business interruption loss is not your cover either.
Frequently asked questions
This is what people ask us most.
Why does loss of rent matter so much with commercial property?
Because the finance is repaid out of the rent. If the property is out of use after fire or water damage, the rental income stops while interest and repayments continue. Loss of rent cover bridges that period for the agreed indemnity period. Choose that period realistically: permits, demolition, tendering and rebuilding together take considerably longer than the bare construction period.
Does buildings insurance cover my liability as owner?
No. The buildings policy pays for damage to the building itself. If someone is injured by a defect in that building, you are liable under Article 6:174 of the Dutch Civil Code and you need liability insurance for that. Those two covers are separate; many property owners only discover that when a passer-by or a tenant is injured.
Does the tenant count towards acceptance?
Yes, and more heavily than for a home. The insurer assesses the property on the basis of its actual use: an office floor is one thing, a kitchen with a deep fryer or a workshop with welding equipment is another. If the use changes, that is a change in risk which you must disclose. Place that duty to notify on your tenant contractually as well.
Does Finass arrange finance for business premises?
No. We advise and act as brokers on general insurance and refer you for finance to a specialist firm with the appropriate licence. What we do is test the sum insured against the rebuild value, set the loss of rent indemnity period and make sure your lender is correctly noted on the policy as an interested party.
Every situation is different. For these situations we have a separate page.
- Finance: we refer you onThe main page
- Financing business premisesSecurity, rental income, insurance
- Financing property outside the bankAlternative lenders, conditions, security
- Property finance: we refer you onNo advice, let property, referral
- Bridging mortgageTwo homes, temporary, double costs
- Buy-to-let mortgageInvestment property, rental income, insurance
- Starterslening (a Dutch first-time buyer loan)Supplementary, local authority, conditions
- Financing commercial property: we refer you onNote: borrowing money costs money, security, declaring letting
- Financing a carForms, residual debt, insurance
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. Last updated on .
The information on this page is general in nature and is not personal advice.