The excess on buildings insurance (opstalverzekering)
The excess on a buildings policy applies per event, and it is precisely for storm and glass that the amount on your policy schedule differs from the standard amount.
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In brief
The excess is the part of the loss you bear yourself. With buildings insurance the insurer settles that per event, not per damaged item. If lightning strikes and the roof, the boiler and the wiring are destroyed, that is one event and you pay the excess once. If a pipe drains a week later, that is a new event.
Virtually every buildings policy shows several amounts. For storm a separate, higher excess applies, because storm damage often affects many policies at once and the small claims drive up the costs. For glass there is often no excess at all. So do not look at the amount in the quote, but at the list on the policy schedule.
You can raise the excess voluntarily. With a home that gains you less than with a car, because buildings claims are large on average and the excess is relatively small within them. Read how the rest of the premium is made up under calculating the rebuild value.
What does the excess on buildings insurance cover?
The structure of the cover in three parts, with an overview per situation below.
The basis
Rebuild value
What it costs to rebuild the premises.
Not the market value
Not the WOZ value (the Dutch property valuation)
Guarantee against underinsurance
Permanently fixed
What is included
Everything permanently attached to the building.
Building and installations
Outbuildings
Boundary fences
Optional
Extensions
What is excluded as standard.
Glass
Garden landscaping
Inherent defect and foundations
What is covered
Situation
Standard
With extension
Fire, smoke and lightning strike
Yes
Yes
Storm from force 7 upwards
Yes
Yes
Water damage from a burst pipe
Yes
Yes
Glass breakage
Sometimes
Yes
Groundwater coming through the floor
No
No
Wear and deferred maintenance
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.
Per event, not per damaged item
What matters is the cause, not the number of things broken. A lightning strike that damages three installations is one event. Two separate storms in the same month are two events, and then you pay the excess twice. With a long-running leak that continued for weeks, discussion arises about whether it is one event or several; so record when you discovered the leak.
Storm almost always has its own amount
Storm cover usually starts at force seven and carries a separate, higher excess than the other perils. That amount applies per storm event and per address, not per roof tile or fence panel blown loose. For thatched roofs and for properties with corrugated sheeting or roof tiles without storm clips, insurers also set the amount higher, or impose a requirement about the fixings.
Raising it pays off less than with car insurance
A higher excess lowers your premium, but most buildings claims are large: a fire, a burst pipe across three rooms, a roof that blows off. The excess is relatively insignificant within them. So you have to weigh the saving per year against the risk that on a small claim you receive nothing at all and do not report it.
With a flat the association pays, and so do you
If the claim runs through the VvE's building policy, the excess is deducted from the payment to the association and spread over the owners. If damage inside your own flat runs through your contents policy, that policy's excess applies. With a combined claim you therefore pay twice. See insuring a flat with a VvE.
What does your premium depend on?
Level of the standard excess. The amount applying to the ordinary perils is the main dial you can turn yourself.
Different excess for storm. Insurers set this amount separately. With certain roof coverings it is higher or an additional requirement applies.
Voluntary increase. If you deliberately choose a higher amount, the rate falls. With buildings cover the discount is usually more modest than with motor vehicles.
Roof covering and construction type. Thatch, corrugated sheeting and timber construction affect both the rate and the excess the insurer wants to apply.
Claims history. After several claims an insurer may impose a raised excess instead of increasing the premium.
Rebuild value. The sum insured remains the basis for calculating the premium. The excess changes nothing there, only the payment.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your situation, your risk and your 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.
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.
To most, but not to all. Glass damage carries no excess under many policies, and the costs of mitigating the loss, which you incur to prevent worse, are usually paid in full. For storm, on the other hand, a raised amount applies. Your policy schedule shows which amount applies to each section.
Why is the excess higher for storm?
A storm causes thousands of small claims at once in a few hours: loose tiles, fences, gutters. Without a raised excess, the handling costs of all those small claims would drive up the premium for everyone. The higher amount keeps cover focused on damage you really cannot bear yourself.
Can I set the excess to zero?
For the ordinary perils, some insurers offer that at a higher premium. For storm, a nil excess is rare. That amount is fixed in the conditions with virtually every provider and is not negotiable. So compare not only the standard amount but the whole list in the policy conditions.
Can I claim the excess somewhere else?
Only where a liable third party caused the damage. If a builder drives into your facade, your insurer recovers the loss from them and you get the amount deducted back once that recovery succeeds. With storm, a fire you caused yourself or a burst pipe there is nobody to recover from and the amount remains at your expense.
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.
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