How the premium is built up · insurance premium tax · payment term
How much does insurance cost per month on average?
An average monthly figure says little, because it adds up what nobody has all at once. More useful is the question of what your premium is made up of and which levers you can pull yourself.
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Deze pagina in het Nederlands: Hoeveel kosten verzekeringen gemiddeld per maand?.
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 your own premium with the calculator.
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 situation
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
What a household spends on insurance each month depends on what it owns, on the household composition and on behaviour. Someone with a home they own, two cars and a caravan ends up with a very different figure from a single person renting without a vehicle. That is why we give no average on this page: it is the sum of policies you may not have, divided by a group you do not belong to. If you want to know what you pay, a calculation on your own details is the only route.
The premium itself consists of three parts. First the risk premium: the expected claims burden for someone with your characteristics, built up from factors such as where you live, the construction type, age, claims history and the level of the sum insured. Second the loadings applied by the insurer for costs and profit. Third the insurance premium tax, which is charged on most non-life insurance; health insurance, life insurance, disability insurance and marine and transport insurance are exempt from it. Your policy schedule shows the premium including that tax and the policy fees.
There are four costs you influence yourself without hollowing out the cover: the excess, the payment term (paying monthly usually carries a surcharge compared with paying annually), the composition of the package and clearing up any duplicate cover. The last of those produces money more often than expected: travel insurance alongside credit card cover, separate bicycle insurance alongside a home contents policy with cover away from the home, or legal expenses cover that is partly included in another policy as well.
This page deals with one situation. The full overview is on SME insurance package.
What to look out for
Four ways to lower the monthly cost, and one that only appears to.
Raising the excess works, up to a point
A higher excess lowers the premium because you carry the small claims yourself. That is sensible as long as you can genuinely spare the amount at the moment things go wrong. With liability the gain is small and the risk large: that policy is intended precisely for the rare, very high claim and does not lend itself to economising.
Paying annually saves the instalment surcharge
Insurers normally charge a loading for payment by month or by quarter compared with payment by year. If you can spare the annual amount, that is a direct saving with no loss of cover. If you do pay monthly, make sure the direct debit goes through: after a reminder the cover can be suspended while the premium debt remains.
Insuring for too little is not a saving
Reducing the sum insured brings the premium down, but leads to underinsurance: a claim is then paid proportionately. The principle behind that rule is set out in Article 7:960 of the Dutch Civil Code. For home contents and the home, use a value calculator; that also gives you a guarantee against underinsurance, provided you have answered the questions correctly.
What you never get back, however low the premium
No policy pays for damage caused by intent or recklessness (Article 7:952 of the Dutch Civil Code), by war risks or a nuclear reaction, or by wear, deferred maintenance and design faults. Also flooding from a primary flood defence and administrative fines remain uninsurable. So do not choose on price alone, but look at where the cover ends.
What does your premium depend on?
- What you own — a home you own, vehicles, valuables and leisure equipment
- Where you live — postcode and construction type count for both home and car
- Household composition — determines the extent of the family cover
- Excess chosen — can be set separately for each policy
- Claims history and no-claims years — most visible with motor vehicles
- Payment term and package discount — two items that stand apart from the risk
Insurers weigh these details differently. That is why comparing pays off.
What is covered
| Situation | Basic | Extended |
|---|---|---|
| Your child breaks a window at the neighbours' | Yes | Yes |
| A burst pipe floods your ground floor | Yes | Yes |
| Your bicycle is stolen at the station | No | Provided that |
| A dispute with the builder about a failed refurbishment ends in proceedings | No | Provided that |
| Your suitcase does not arrive on the outward journey | No | Yes |
| Your laptop falls off the kitchen table | No | Yes |
Each module keeps its own excess; a package discount changes nothing about that.
Frequently asked questions
The questions we are asked most often about this.
Why do you not give an average figure?
Because the amount depends on policies not everyone has. Anyone without a car does not see the largest item in such an average; anyone living in a detached house pays more for buildings cover than the average suggests. A calculation on your own details takes little longer and gives a figure you can use.
Does my premium go up automatically?
Often it does. Many policies have an index clause that adjusts the sum insured and the premium each year in line with price movements. An insurer may also change premiums or conditions for a whole portfolio through an en bloc provision. You receive notice of that and can then have the policy compared again.
Does switching save money?
Sometimes, but not always as much as it seems. With a lower premium, note the excess, the basis of valuation and the exclusions; the difference in conditions is usually greater than the difference in price. With motor vehicles it also matters whether your no-claims years carry over in full. We arrange the cancellation when you switch.
What does a policy cost besides the premium?
The policy schedule usually shows policy fees and insurance premium tax separately. When you claim, your excess comes on top, and with motor vehicles a claim can set back your no-claims years, which works through into the premium for years. Take that into account before you report a small claim.
Read more
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