What we do not do
- No investment advice
- No intermediary services for participations
- No opinion on returns
Property funds and insurance
Taking part in a property fund is investing. We do not hold a licence for that and we do not advise on it. We do insure the buildings, the liability and the directors of property entities.
- several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
This page in another language: Nederlands
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
Finass Verzekert (AFM 12016589) advises and acts as an intermediary in non-life insurance. Investing falls under a different licence category: we do not give investment advice, we do not assess prospectuses and we do not act as an intermediary in participations. For that you go to a party listed in the public AFM register.
With a property fund the return is not guaranteed and you may lose all or part of your investment. If the fund uses debt finance, the following also applies: Please note: borrowing money costs money. Compare finance on the annual percentage rate and not on the monthly payment.
What we do is on the property side. A fund or manager must have the buildings insured, cover the liability as possessor and protect the board. See insurance for property and directors' and officers' liability.
Insurance never stands alone
A mortgage, loan or investment often touches your insurance too. We look at the bigger picture and point you to the right specialist whenever something falls outside insurance itself.
FinancialPhoto coming soon
OverviewPhoto coming soon
AdvicePhoto coming soon
Who does what: the fund, the provider or the insurer?
The division of roles in three cards, with below each task the person who carries it out.
What to look out for
What to check yourself before you invest.
- Licence or exemption
- Key information document
- Costs and options for exiting
What we do provide
The general insurance policies of the entity and its buildings.
- The building on rebuild value
- Liability as owner
- Directors' and officers' liability
What is covered
| Situation | At Finass Verzekert | With the licensed provider |
|---|---|---|
| Advice on taking part in a property fund | No | Yes |
| Assessment of the prospectus and the risk profile | No | Yes |
| Arranging debt finance | No | Yes |
| Premises insurance for the properties | Yes | No |
| Liability as the owner of the building | Yes | No |
| Directors' and officers' liability for the entity | Yes | Provided that |
What is actually covered is set out in the insurer's policy conditions and insurance card (verzekeringskaart).
What to look out for when comparing
- Licence or exemption: check the provider in the public AFM register
- Risk of losing your investment: returns are never guaranteed
- Cost structure: management, purchase and performance fees
- Tradability: how and when you can end your participation
- Debt finance in the fund. Please note: borrowing money costs money, for a fund as well
- Insurance of the properties: building, liability and directors
This overview is general in nature and is not personal or investment advice.
How it works
- You choose a provider yourselfCheck the licence or exemption in the AFM register.
- You read the fund documentationIt sets out the costs, the risks and the options for exiting.
- We insure the propertiesThe building, the liability and, where needed, the board.
- We process changesWe keep track of purchases, sales and changes of use.
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.
What participants and managers run into
Four points that are regularly overlooked in fund structures.
The policy is in the name of the wrong entity
In funds, ownership often sits in a separate company or foundation. If the policy is in the name of the manager instead of the owner, the party that suffers the loss has no insurable interest. Make sure the name on the policy and the ownership match exactly.
Directors can be held personally liable
Directors of a property entity can be held personally liable by participants, tenants or a trustee in bankruptcy. Those claims do not fall under the premises or liability policy. Directors' and officers' liability insurance pays defence costs, but normally excludes intent and wilful recklessness.
Liability as possessor stays with the owner
Within a fund structure too, 6:174 DCCapplies: the possessor of a defective structure is liable for the damage, even without any blame. Outsourcing the management does not move that liability. Arrange it as separate cover at the owner.
A changing portfolio calls for proper administration of alterations
Funds buy and sell. Every building that has not been declared is not insured, and once a building is sold your interest ends. The use of each property also determines acceptance. An incorrect declaration engages 7:928 DCC and with it the payment under 7:930 DCC.
Frequently asked questions
This is what people ask us most.
Does Finass Verzekert advise on property funds?
No. Investment advice and intermediary services for participations fall under a different licence category from ours. We do not assess prospectuses and express no view on returns. We do insure the buildings, the liability and the directors of property entities.
Who has to insure a fund's buildings?
The party that owns them and therefore has the insurable interest. In funds that is often a separate company, not the manager. Put the policy in the name of that owner and note any lenders as interested parties, so that a payment after a loss ends up in the right place.
Does premises insurance cover a fall in property value?
No. General insurance pays for material damage to the property, not for economic developments such as vacancy risk, falling rents or a loss of market value. Article 7:960 of the Dutch Civil Code also prohibits a payment from putting you in a clearly better position than before the loss.
What falls outside directors' and officers' liability cover?
Normally intent, wilful recklessness, fines and claims that were already known when the cover was taken out. Claims between directors are often limited as well. Read the description of the insured capacity: it determines whether work for affiliated entities is covered.
Every situation is different. For these situations we have a separate page.
- Finance: we refer you onThe main page
- Property portfolio: financing and insuranceNo finance advice, portfolio, referral
- Property finance and your insuranceNo finance advice, insuring the security, referral
- Financing property to letNo finance advice, let property, referral
- A buy-to-let mortgage and your buildings insurance (opstalverzekering)No mortgage advice, let home, referral
- Financing and insuring a renovationNo finance advice, building work, referral
- Commercial property: financing and insurancePlease note: borrowing money costs money, buildings, loss of rent
Insurance for your property entity?
We do not advise on the investment. We do advise on insuring the buildings and the board.
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.