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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.
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We compare the offerings of several insurers
An adviser checks whether the cover suits your activities
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
A VvE is a legal entity with its own property, its own contracts and its own board. It therefore runs four types of risk, each with its own policy: damage to the building, liability towards third parties, personal liability of board members and the costs of legal disputes. Those covers do not overlap and do not replace one another.
If you want everything under one contract, look at VvE package. If there are business premises in the building, a separate assessment applies: A VvE with commercial premises.
The structure of the cover in three parts, with an overview per situation below.
Article 5:112 of the Dutch Civil Code
Compulsory
Buildings insurance is required by law.
Rebuild value as the basis
All apartments
Communal parts
Personal risk
The board
Article 2:9 of the Dutch Civil Code makes no distinction.
Unpaid board members too
Joint and several liability
Recourse against personal assets
Optional
Additional
What else the association needs.
Liability as owner
Legal expenses
Accidents involving volunteers
What is covered
Situation
Buildings, VvE
Liability
Drivers
Fire damage to the building
Yes
No
No
Injury in the stairwell
No
Yes
No
A claim against a board member
No
No
Yes
An owner's own kitchen
No
No
No
Deferred maintenance
No
No
Sometimes
A dispute with a contractor
No
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.
Compulsory: the building at rebuild value
Article 5:112 of the Dutch Civil Code requires the regulations to oblige the association to insure against fire, storm and water damage. This policy is in the association's name and covers the communal parts and the structure of all the apartment rights. It does not cover residents' home contents and does not cover the owner's interest: a kitchen, bathroom or floor that an owner had installed themselves. Each owner insures that themselves.
Liability of the association as owner
If a delivery driver trips over a loose tile or facade cladding falls down, the association is liable under Article 6:174 of the Dutch Civil Code. That liability rests on the owner of the building and applies even without fault. If the association employs a caretaker or cleaner, Article 6:170 DCC is added for mistakes by subordinates. This cover is not compulsory, but it is the most underestimated.
Board members can be held personally responsible
Article 2:9 of the Dutch Civil Code draws no distinction between paid and unpaid board members. A board member who postpones a maintenance decision, lets an insurance policy lapse or manages the funds badly can be held jointly and severally liable against their private assets. Directors' and officers' liability insurance pays for financial loss and defence costs. Intent, fraud and fines remain excluded; a claim about a decision taken before the start date usually falls outside it too.
What no VvE policy covers
Outside all the association's covers fall residents' home contents, the owner's interest, a tenant's business contents and the business interruption loss of an entrepreneur in the building. A dispute with the contractor is not covered either unless legal expenses cover is included, nor is injury to an owner helping out unless personal accident cover has been taken out. Fines and penalty payments can never be insured.
What does your premium depend on?
Rebuild value of the complex — The basis of the compulsory building cover and of most of the additions.
Number of apartment rights — Determines the size of the board members' risk and of the liability risk.
Which covers you choose — Buildings only, or also liability, directors' and officers', legal expenses and personal accident cover.
Year of construction and state of maintenance — The age of the roof, facade and installations counts in every section.
Mixed use of the building — Shops or hospitality businesses in the building increase the risk for the whole.
Professional management — A managing agent with proper records reduces the chance of management errors.
Insurers weigh these details differently. That is why comparing pays off.
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.
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.
Only insurance of the building against fire, storm and water damage, under Article 5:112 of the Dutch Civil Code. All other covers are voluntary. That does not mean they are unnecessary: liability as owner and personal liability of board members can produce amounts that a small association cannot pay out of its reserve fund.
Does the VvE also have to have liability insurance?
Not by law, but as owner of the building the association carries strict liability under Article 6:174 of the Dutch Civil Code. Injury to a visitor in the stairwell or damage to a car caused by falling facade material therefore lands directly on the association. If there is no cover and no money, every owner contributes in proportion.
Are board members personally liable?
Yes. Article 2:9 of the Dutch Civil Code requires every board member to perform their duties properly and draws no distinction between paid and voluntary board membership. Where conduct is seriously blameworthy, a board member can be held jointly and severally liable against their private assets. Directors' and officers' liability insurance covers financial loss and defence costs, but not intent, fraud or fines imposed.
Does the VvE insure my home contents too?
No. The association's policy covers the building, not your belongings. Furniture, appliances and clothing fall under your own home contents insurance. In between sits the owner's interest: the kitchen, bathroom or floor you had installed yourself. That falls outside the VvE policy and has to be declared as a separate section on your own contents policy.
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.
