Unusual property · vacancy · one policy schedule

The combined policy from OOM Verzekeringen

Some properties do not fit into a standard business package. A combination policy brings the building, its contents and liability together on one schedule, with the clauses that such a property calls for.

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Deze pagina in het Nederlands: De combinatiepolis van OOM Verzekeringen.

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.

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A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.

In brief

Finass acts as an intermediary through, among others, OOM Verzekeringen and is not tied to it. We compare several insurers objectively. We use this company for properties and situations where the mainstream market is reticent: premises with varying use, a property with a foreign owner, a building that stands empty for part of the year. A combination policy bundles the building, business contents, liability, glass and sometimes business interruption on one contract for that purpose.

The gain lies not in the discount but in the coherence. With separate policies for the building and the contents, a claim brings a discussion about which policy an item falls under: is a fixed counter business contents or part of the building, does an outdoor unit belong to the installation or to the premises. On one contract with the same conditions and the same loss adjuster, that boundary disappears. For an unusual property that matters more than for an ordinary office building.

What remains is the liability as owner. Under Article 6:174 of the Dutch Civil Code you are liable where a structure does not meet the standards that may be expected of it and thereby creates a danger: a roof panel coming loose, a subsided terrace, a fence blowing over. You do not need to have done anything wrong. For a building with several users this weighs even more heavily, see the multi-tenant building.

This page deals with one situation. The full overview is on SME insurance package.

Points to note
Frequently asked questions
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The clauses that make the difference

Four provisions that steer the cover on a combined property policy.

Vacancy narrows the cover automatically

If the property stands empty for longer than the period named in the conditions, the cover falls back to a limited set of perils, usually only fire, storm and lightning. Burglary, vandalism, water damage and glass then drop out. So report vacancy in advance; reporting afterwards does not restore the cover for the intervening period.

A change of use or of tenant

A storage space that becomes a workshop, a clubhouse that is sublet, premises where naked flames are now used: that is a change of risk within the meaning of Article 7:928 of the Dutch Civil Code. If it is not reported, the insurer can reduce or refuse the payout at a claim under Article 7:930 of the Dutch Civil Code, even if the loss had nothing to do with the change.

Maintenance, construction and gradual effects

Outstanding maintenance, wear, construction defects, wood rot and slowly penetrating damp are excluded on every buildings section. In an older or rarely used property that is the most common ground for rejection, because a leak there rarely arises in a single night. Flooding from a primary flood defence and earthquake also remain outside the cover.

Sums insured and the principle of indemnity

Each section has its own sum insured. If the rebuild value is set too low, underinsurance follows and the payout is proportionate. Conversely, Article 7:960 of the Dutch Civil Code prevents you from profiting from the loss. For a property that is hard to value, a valuation is the way to settle that discussion beforehand rather than afterwards.

What does your premium depend on?

Nature and use of the property: storage, workshop, letting or recreational use
Construction type and state of repair: materials, roof covering and age
Occupancy rate: permanent use, seasonal use or vacancy
Sections chosen: building, contents, liability, glass or business interruption
Security and supervision: fencing, alarm, camera surveillance and key management
Location: a remote site, a coastal zone or an inner-city location

Insurers weigh these details differently. That is where your saving is.

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What is covered

Situation	Buildings section	Liability section
A storm tears the roof covering off the property	Yes	No
A roof panel comes loose and blows onto a visitor's parked car	No	Yes
A visitor falls through a subsided terrace and breaks a wrist	No	Yes
A burst pipe damages the floor finish and the furniture inside	Provided that	No
Goods you are storing in the property for someone else are damaged	No	No
A heavy fall of wet snow causes part of the roof to give way	Yes	No

Contents form a section of their own with their own sum insured. Without a declaration, damage to machinery, stock or third-party materials is not included.

Frequently asked questions

This is what people ask us most.

Who is a combination policy intended for?

For owners of properties that do not fit into a standard package: unusual buildings, premises with varying use, properties with a foreign owner or situations where no one is present for part of the year. An ordinary business property with permanent occupation is almost always better value under a regular package. We calculate both options for you.

Are the contents automatically included?

No. The building and the contents are separate sections with their own sums insured. What is in the property in the way of machinery, furniture, stock or third-party materials has to be declared separately. Goods you store for someone else also call for attention, because damage to them touches on the care, custody and control exclusion in the liability section.

What happens with a claim during a period of vacancy?

The limited set of perils from the vacancy clause then applies. Fire and storm usually remain covered, but vandalism after a break-in, theft of pipework and water damage from a burst pipe drop out. So report vacancy as soon as it arises, so that adjusted cover can be agreed if necessary.

Does the policy also apply to a property abroad?

That depends on the cover chosen and the country. We use OOM Verzekeringen precisely for cross-border situations, such as property outside the Netherlands or foreign interested parties in a Dutch property. See also doing business abroad; the territorial limit is always stated on the policy schedule.

The combined policy from OOM Verzekeringen

In brief

The clauses that make the difference

Vacancy narrows the cover automatically

A change of use or of tenant

Maintenance, construction and gradual effects

Sums insured and the principle of indemnity

What does your premium depend on?

Frequently asked questions

Read more

Within Insurance packages

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The combined policy from OOM Verzekeringen

In brief

The clauses that make the difference

Vacancy narrows the cover automatically

A change of use or of tenant

Maintenance, construction and gradual effects

Sums insured and the principle of indemnity

What does your premium depend on?

Frequently asked questions

Read more

Within Insurance packages

Similar pages

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