Rebuild value
- Not the market value
- Not the WOZ value (the Dutch property valuation)
- Guarantee against underinsurance
Buildings insurance (opstalverzekering) for an industrial unit
You insure an industrial unit at rebuild value, but whether an insurer is willing to accept the building depends above all on the construction, the use and the prevention measures you can demonstrate.
- several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
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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
Buildings insurance (opstalverzekering) for an industrial unit covers the building itself: the structure, the wall and roof cladding, the floor, the doors and everything fixed to the building. The sum insured is the rebuild value, that is, the cost of putting up the same unit again, including demolition and clearing debris. What you store in it or produce with it does not fall under this policy but under a contents and goods insurance.
With industrial units insurers look more closely than at offices, and that is because of the construction type. Sandwich panels with a combustible insulation core, a timber roof structure or a large undivided space without fire compartmentation considerably increase the risk of a fire costing the whole building. Some combinations of insulation material and use can only be placed with a handful of insurers, or only with a higher excess and additional requirements.
The usecounts as well: storing plastics, woodworking, welding, batteries and charging infrastructure or a spray booth present a different risk from dry storage of packaged material. If you let the unit, your tenant's line of business is decisive. See also business buildings insurance for the general principles.
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What is covered?
The cover consists of the building, the fixed installations and the additional sections you choose alongside them.
What is included
Everything permanently attached to the building.
- Building and installations
- Outbuildings
- Boundary fences
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 |
What is actually covered, including exclusions, the sum insured, the excess and prevention requirements, is set out in the policy conditions and the insurance card (verzekeringskaart) that you receive before you take out cover.
What does your premium depend on?
- Rebuild value: the usual basis for calculation
- Construction and insulation: a combustible core sharply increases the risk
- Use of the unit: storage, production or letting to third parties
- Fire prevention: compartmentation, detection and extinguishers
- Security: certificate, fencing and camera surveillance
- Excess and claims history: a higher threshold lowers 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 situation, risk 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 determine whether your unit is insurable and whether a major loss is paid.
Construction and insulation material determine acceptance
Insurers ask about the core of the sandwich panels, the roof build-up and the presence of fire compartmentation. A unit with combustible insulation and without compartmentation almost always means a total loss in a fire, and that translates into premium, excess or a refusal. If you have documentation of the materials used, keep it; it helps in the underwriting process and prevents you being rated on the least favourable assumption.
Prevention requirements are warranties, not recommendations
With industrial units there are almost always clauses on the policy: a valid electrical inspection, a maintained fire alarm or extinguishing system, certified burglary protection, keeping the walls clear of stored goods and pallets, and rules around working with naked flames. If such a requirement has not been met when a loss occurs, cover can lapse in whole or in part. Keep inspection reports and maintenance contracts and track the expiry dates.
What is not included
The following, among others, are outside the cover: wear, deferred maintenance and design faults, including sagging roof sheets and leaks that were already known about; groundwater, flooding from a primary flood defence and earthquake; soil contamination and clean-up costs, for which environmental damage insurance is needed; intent and wilful recklessness under Article 7:952 of the Dutch Civil Code; and fines and penalty payments imposed by the authorities. Contents, stock and business interruption also fall outside it unless you have insured them separately.
Discuss solar panels and charging infrastructure separately
A roof full of panels changes the risk profile. Insurers set requirements as to the installation, the cabling and periodic thermographic inspection, and want to know whether the installation has been included in the rebuild value. The same applies to charging points and battery storage. If the installation was fitted after the policy was taken out and not reported, that is a change in the risk: the insurer can rely on Article 7:928 of the Dutch Civil Code and reduce or refuse the payout under Article 7:930 of the Dutch Civil Code.
Frequently asked questions
This is what people ask us most.
Do I insure at rebuild value or at market value?
At rebuild value: what it costs to build the same unit again in the same place, including demolition, clearing debris and professional supervision. For industrial units that often differs considerably from the market value. A valuation by an expert gives certainty about the sum insured for an agreed period and prevents you facing underinsurance when you claim.
Why does the insurer ask about my insulation material?
Because it determines how a fire develops. Sandwich panels with a combustible core can turn a limited fire into a total loss of the unit. Insurers therefore set requirements on compartmentation and detection, apply a higher excess or decline certain combinations of material and use altogether.
Is my stock insured as well?
No. Buildings insurance covers the building and what is fixed to it. Machinery, racking, stock and office furnishings are insured on a contents and goods policy. What a tenant has installed themselves falls under their tenant's improvements. Align those policies with each other, or a gap between two covers arises after a fire.
What happens if the unit stands empty?
You must report vacancy. Cover then often falls back to a number of basic perils such as fire, storm and lightning, and insurers impose conditions on supervision, draining down pipework and protection against squatting. Without notification you risk payment being reduced because of an unreported change in the risk.
Do I need business interruption cover as well?
That is often the most important question. The buildings policy pays for reconstruction, but rebuilding a unit takes a long time. During that period your production or letting stops. Business interruption or loss of rent cover absorbs that, with a chosen indemnity period that must be realistic in relation to the actual rebuilding time.
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
- Compare commercial buildings insuranceRebuild value, construction, fire prevention
- Insurance for commercial buildingsRebuild value, tenants, vacancy
- Buildings and premises insurance for propertyRebuild value, loss of rent, glass
- Business buildings insurance (opstalverzekering): effective protection for your business premisesPrevention, rebuild value, exclusions
Read more
Within Opstalverzekering gebouwenverzekering
Similar pages
Is your unit properly insured?
Request a quote without obligation. We test the construction, the rebuild value and the prevention requirements against the actual situation.
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 (LinkedIn). Last updated on .
The information on this page is general in nature and is not personal advice.