Third parties' goods · fire load · declaring the use
Insuring a business storage facility through OOM Verzekeringen
A storage unit is often a simple building with complicated contents. The discussion after a loss is rarely about the walls and the roof, but about what was there and who owned it.
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Deze pagina in het Nederlands: Een zakelijke opslagplaats verzekeren via 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.
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.
In brief
Finass acts as an intermediary through OOM Verzekeringen among others, a company we use for items and interests that come unstuck on an ordinary commercial policy. We are not tied to it: we compare several insurers objectively and the choice follows from what the building and the storage require. For the structure of the basic cover you can take the buildings insurance as a starting point; storage in a larger hall often runs through a warehouse and storage policy. If you store private belongings, a different regime applies; see the private storage unit.
What distinguishes business storage is that there are usually goods belonging to others there. Trading stock held on consignment, a client's materials, pallets that remain the property of a pool organisation, or units you sublet. Those goods do not automatically fall under your policy: buildings cover concerns the building, business contents cover concerns your own property. For items in your care but not owned by you, the liability policy also applies the care, custody and control exclusion. Anyone storing goods for a fee is a depositary and must return them in the same condition. That obligation is not automatically insured.
The second theme is fire load. A storage unit is often full of cardboard, film, timber or plastic, and has little supervision. Insurers therefore set requirements on the stacking distance from the wall, on charging forklift batteries, on smoking and on fire compartmentation. If you store hazardous substances, separate rules apply and this must be declared when you apply. For your business coming to a standstill after a fire you need business interruption insurance, and for soil or groundwater contamination after firefighting you need environmental damage insurance.
This page deals with one situation. The full overview is on Compare buildings insurance (opstalverzekering).
What to look out for
Four points that lead to refusal on a storage unit more often than the size of the sum insured.
What is stored determines acceptance
An empty warehouse and a warehouse full of foam rubber are not the same risk. Paint, aerosols, batteries, tyres and plastics greatly increase the fire load and are regularly excluded or subject to conditions. If your range changes, report it. Article 7:928 of the Dutch Civil Code requires you to declare everything relevant to the assessment when you apply. A change you conceal can lead under Article 7:930 of the Dutch Civil Code to limitation or refusal of the payout.
Third parties' goods and subletting
If you let space or units to others, ownership of the contents rests with them and you are liable only where you fall short. If you do not record that, tenants will claim from you. Include a clear liability provision in the storage or rental terms and refer tenants to their own business contents insurance. Theft without signs of forced entry is a classic ground for refusal in storage, precisely because several parties hold a key.
Smouldering, damp and gradual damage
What is insured is a sudden, unforeseen event. Smouldering, inherent defects, condensation, mould and slow deterioration of goods fall outside it, as does damage caused by vermin. An unheated warehouse with a thin steel skin produces a great deal of condensation; anyone putting cardboard or electronics in it should solve that structurally, not through insurance. The same applies to deferred maintenance of the roof and gutters is not an insured peril.
Vacancy and use outside office hours
If the storage unit stands empty for parts of the year, or nobody is there at night and at weekends, the cover changes. Many policies limit cover to fire and storm during vacancy and drop burglary and water damage. If you allow a third party to use part of it, report that separately; the background is set out at declaring the use of a building.
What does your premium depend on?
- Nature of the goods stored: fire load and appeal to thieves weigh more heavily than volume
- Construction type and compartmentation: masonry, steel or sandwich panels, and the separation between sections
- Security and detection: burglary class, smoke detection and any sprinkler system
- Rebuild value of the building: the basis for the buildings cover
- Presence of third parties' goods: determines whether depositary's liability cover is needed
- Intensity of use and supervision: staffed daily or unattended for months
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Buildings & business contents | Public and employers' liability |
|---|---|---|
| Fire destroys your own racking and the forklift | Yes | No |
| Trading stock you held on consignment is lost in that same fire | No | No |
| A pallet falls off the racking onto a driver who is waiting | No | Yes |
| Your employee drives the forklift into a customer's lorry | No | Yes |
| A storm tears part of the profiled sheeting off the warehouse | Yes | No |
| An employee falls while stacking pallets and breaks a wrist | No | Provided that |
Who ultimately bears the loss in storage is determined more often by the contract than by the policy.
Frequently asked questions
This is what people ask us most.
Are the contents of my storage unit included?
Not automatically. Buildings cover concerns the building itself: walls, roof, floor and fixed installations. For your own stock and equipment you need business contents and goods cover, with a sum matching the actual value. Goods owned by customers or suppliers require a separate arrangement, because they fall outside both sections.
I store items for customers. What happens in a fire?
As a depositary you must return the goods in the condition in which you received them. If you cannot, you can be held responsible, unless you show that you are not at fault. On the liability policy the care, custody and control exclusion applies to goods in your care, so that this particular claim is often not covered. Have cover for deposit or goods in your care expressly included, therefore.
May I store hazardous substances?
That depends on your permit and on the acceptance conditions. Insurers work with limits on quantity, packaging and storage facilities. If you store more or differently than declared, you risk the loss not being paid, even where the fire had another cause. Report changes in advance, therefore, and keep the confirmation.
What if my business is at a standstill for weeks after a fire?
A buildings policy pays for repair or rebuilding, not for the loss of your turnover or the cost of renting replacement space. For that there is business interruption insurance with an indemnity period matching the time you need to get back up to strength. Allow for permit procedures and delivery times, because in practice those determine how long the recovery takes.
Read more
Within Why we work with different insurers
- Why we work with different insurersthe main page
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