Between the VvE and contents · kitchen and bathroom · declare separately
Insuring an owner's interest in a VvE
The kitchen you had installed does not belong to the VvE, because the VvE did not pay for it. And it is not home contents, because it is fixed in place. The owner's interest falls precisely in between.
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In brief
Owner's interest is everything you as a flat owner installed yourself and that has become permanently attached to the building: kitchen, bathroom, sanitary ware, parquet or poured floor, partition walls, fitted cupboards, lighting and an extension on the balcony.
The buildings insurance held by the VvE covers the building as it was completed. What an individual owner has had installed since then in principle falls outside it. And your home contents insurance covers movable property; anything fixed in place is not that.
In a fire or a major leak this is the most common disappointment: the VvE policy restores the structural condition, your contents policy pays for your belongings, and the twenty-five thousand euro kitchen falls between the two.
The structure of the cover in three parts, with an overview per situation below.
Permanently installed
What is included
Everything you had installed that is fixed to the building.
Kitchen and bathroom
Floors and ceilings
Walls and fitted cupboards
Two routes
Where you insure it
As a section on your contents policy or through the VvE.
Your own home contents insurance
Collectively through the VvE
Separate sum insured
The pitfall
Setting the value
Work with replacement costs, not with what you once paid.
Building costs are rising
Keep the invoices
Update after refurbishment
What is covered
Situation
VvE policy
Home contents
Owner's interest
The structural condition of the building
Yes
No
No
Your furniture and appliances
No
Yes
No
A kitchen you installed
No
No
Yes
A poured floor you laid
No
No
Yes
A partition wall you installed
No
No
Yes
Wear and deferred maintenance
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.
Two routes; choose one deliberately
Some VvEs include the owner's interest collectively on the buildings policy, with a fixed amount per flat. If your VvE does not, you include it as a section on your own home contents insurance. Ask the board what has been arranged collectively before you take anything out yourself; double insurance is common here.
Work with today's replacement costs
The kitchen you had installed eight years ago for eighteen thousand euros costs considerably more today. Insure for what it costs now to have the same thing installed, including removal, disposal and fitting. Keep the invoices and photographs. That is the file on which a claim is paid.
Update after every refurbishment
A new bathroom, an extended balcony or a poured floor changes the amount immediately. This is the section that is most often out of date, because nobody thinks about the policy at the moment the builder finishes. Put it on the list at completion.
With letting it is different
If you let the flat, the owner's interest is part of your let property and belongs on a landlord's cover, not on a private contents policy. Report the letting. Without a declaration, damage during that period falls outside cover.
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Everything you as a flat owner had installed that has become fixed in place: kitchen, bathroom, floors, walls, fitted cupboards. It falls outside the VvE policy and outside your contents cover.
Why does the VvE policy not cover that?
It insures the building as completed and in communal ownership. What an individual owner installed afterwards was not paid for by the association and in principle falls outside it.
How do I set the amount?
With today's replacement costs, including removal, disposal and fitting. Not with what you paid at the time; building costs have risen considerably in recent years.
Do I insure it through the VvE or myself?
Both occur. Ask the board what has been arranged collectively and for what amount per flat. If there is nothing or the amount is too low, include it on your own home contents insurance.
What if I let the flat?
It then belongs on a landlord's cover and not on a private contents policy. Report the letting, otherwise damage during that period falls outside cover.
Do I have to report anything after a refurbishment?
Yes, straight away. A new kitchen or bathroom changes the amount immediately, and this is the section that most often turns out to be out of date at the moment of a claim.
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.
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