Buildings cover
- Address, construction type, year of construction and use
- Extended, or limited to fire and storm
- Annual indexation of the sums insured
- Purchases and sales notified in good time
Real estate · homes · combined policy
Insurance for let homes
Let homes are investment properties and are insured as such. This page describes how such a policy works, what you include on it and which losses fall outside it.
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Deze pagina in het Nederlands: Verzekering voor verhuurde woonhuizen.
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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.
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
To an insurer, a let home is real estate and not the owner's home. That difference determines the whole policy: the property is occupied by a tenant, there is less supervision and between two tenants it stands empty. That is why, without exception, personal buildings insurance does not cover letting. Let homes belong on a let property policy or, where there are several properties, on a single combined real estate policy.
Such a policy lists all the addresses with their sum insured, construction type, year of construction and use. That declaration is not without consequence. Article 7:928 of the Dutch Civil Code requires you, on entering into the contract, to disclose fully everything relevant to the assessment of the risk, and where a declaration is incorrect or incomplete the insurer can, under Article 7:930 of the Dutch Civil Code reduce payment proportionately or refuse it entirely. On a combined policy that works address by address, so a property wrongly declared stands alone when there is a claim.
Two covers should always be discussed with let homes. Loss of rent absorbs the loss of income where a property is uninhabitable after a covered loss. And because you as owner are the possessor of the building , you are liable under Article 6:174 of the Dutch Civil Code for damage caused by a defect in the building. See also several buildings insurance policies for let homes.
How the policy is set up
Three elements you can arrange per home or for the whole holding.
Owner's interest
What you have installed in each home and let with it.
- Kitchen, bathroom fittings, floors, sun blinds
- With furnished letting, the furniture as well
- Apart from the tenant's improvements
- Its own sum insured per property
Loss of rent
The rental income lost while a home stands empty after a covered loss.
- Only after a covered cause of loss
- Up to the period stated in the policy
- Not for non-payment or vacancy between tenancies
- Important with financed properties
What is covered
| Situation | Separate policies | Blanket policy |
|---|---|---|
| Fire, storm and water damage per property | Yes | Yes |
| One renewal date for the whole holding | No | Yes |
| Valuation per property under Article 7:960 of the Dutch Civil Code | Provided that | Yes |
| Loss of rent after a covered claim | Provided that | Provided that |
| Damage caused by the tenant or vandalism by occupants | No | No |
| Vacancy for longer than the term in the policy | No | No |
What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) that you receive before you take out cover.
What matters with let homes
Four points that determine whether your holding is genuinely covered.
The use per address must be correct
A home declared as owner-occupied but let is not insured as it is used. That also applies within a combined policy: cover follows the declaration for each address. If something changes, think of letting by the room, division into units, building work or vacancy, report it. The duty of disclosure under Article 7:928 of the Dutch Civil Code and the sanction under Article 7:930 of the Dutch Civil Code quickly turn an administrative oversight into an uninsured loss.
A valuation prevents discussion about the value
The sum insured is the rebuild value: the cost of building a similar property again, without the land. With older homes, listed buildings or properties with a thatched roof, that differs widely from the WOZ or market value. A a valuation under Article 7:960 of the Dutch Civil Code fixes the value for a set period, so that within that period the insurer cannot rely on underinsurance. Without a valuation or up-to-date indexation you bear the difference yourself in the event of a large loss.
Loss of rent cover is not a rent guarantee
The loss of rent cover reimburses the rent you lose because a property is uninhabitable after a covered loss, up to the period stated in the policy. It is not a safety net for a disappointing investment. Rent arrears, non-payment, a tenant who has left and vacancy between tenancies are not covered. If you want to limit that risk, you do so with tenant screening, a deposit, collection arrangements in the management contract or a separate rent guarantee, not with the buildings policy.
The exclusions that affect landlords
Excluded from cover are, among other things damage the tenant causes themselves and vandalism by occupants, deferred maintenance, wear, design and material faults, vacancy for longer than the term stated in the policy and damage caused by cannabis cultivation or other illegal use. Subsidence and foundation damage, vermin, mould and slowly acting damp also fall outside cover, as do intent and recklessness under Article 7:952 of the Dutch Civil Code. Report a loss as soon as reasonably possible; that is required by Article 7:941 of the Dutch Civil Code for.
What does your premium depend on?
- Total rebuild value — the total of all the homes
- Number of properties and units — family homes or individual rooms
- Construction type and year of construction — material and state of maintenance
- Spread and location — the risk of storm, water and burglary
- Vacancy and turnover rate — how often unoccupied
- Type of cover and excess — limited or extended
Insurers weigh these details differently. That is why comparing pays off.
How we arrange it
- You request a quoteWe take stock of your situation, risk 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.
9.5New policy
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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.
Frequently asked questions
The questions we are asked most often about this.
What does o.g. mean on a policy for let homes?
O.g. stands for onroerend goed, real estate. Insurers use that designation for properties held as an investment and let, as opposed to the policyholder's own home. Different acceptance rules, different rates and often a narrower form of cover go with that designation. What matters most to you is that the use of each property is correctly stated on the policy.
Can I put all the homes on one policy?
Yes, with a combined or real estate policy. You declare all the addresses, each with its own sum insured and details. That gives you one renewal date, one point of contact and often a better rate. It does require discipline with changes: purchases, sales, building work and vacancy must be reported, otherwise a gap arises at that address that only becomes visible when there is a claim.
What if a tenant damages the property?
Damage the tenant causes to the property is excluded under many policies, certainly where it concerns wilful damage or vandalism. Fire through carelessness is generally covered, because fire is a named peril. For the rest you have to rely on the tenant's liability insurance, the deposit or a claim. Record the condition at handover with a schedule of condition and photographs.
What about a let flat in a VvE?
With an apartment right, the owners' association insures the building collectively; the division regulations arrange that, with Article 5:112 of the Dutch Civil Code as the basis. You insure your owner's interest: the kitchen, floors and sanitary fittings you installed. Check whether the VvE policy is aware of the letting, whether the sum insured is up to date and whether the VvE is actually active and paying premium.
Do I need liability cover as well as the buildings policy?
Yes. As possessor of the structure you are liable under Article 6:174 of the Dutch Civil Code for damage caused by a defect in the building, even without fault: a falling roof tile, a collapsing staircase, a loose balcony railing. That liability is not included in buildings cover, and personal liability insurance generally excludes the letting of property. Arrange a separate policy for it.
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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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This page was written and checked by an adviser at Finass Verzekert. Last updated on .
The information on this page is general in nature and is not personal advice.