If you trade, you have stock that can burn and products that can fail. If you provide services, you have no stock but you do have a claim without anything being broken.
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
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
In trade the money is in the stock. Fire, burglary, water damage or a refrigeration failure hits not only the goods but also your reliability as a supplier: no stock means no turnover, while the fixed costs continue. The fire and business interruption sections therefore belong together, and the sum insured has to match your peak stock and not the annual average.
You also carry product liability. If you import from outside the European Union or put your own brand name on someone else's product, you count as the producer within the meaning of Article 6:185 of the Dutch Civil Code. You are then liable for damage caused by a defective product, even without any fault of your own, and you cannot simply refer the injured party on to the manufacturer.
Services do not carry that risk, but they do carry the mirror image: loss without anything being broken. Such pure financial loss falls outside public and employers' liability insurance and belongs with professional indemnity insurance. If you do both, you need both policies. We bring them together in a SME insurance package.
The structure of the cover in three parts, with an overview per situation below.
The basics
Liability
AVB for property damage and injury, BAV for professional errors.
Damage to third parties
Employers' liability
Care, custody and control as an extension
Your business
Assets and continuity
Business contents, goods and lost turnover during downtime.
Business contents at replacement value as new
Goods at cost price
Business interruption or additional costs
If you employ people
Staff
Sickness absence, accidents and the traffic risk.
Continued pay for 104 weeks
Group personal accident
WEGAS for traffic risks
What is covered
Situation
AVB
BAV
Cyber
Injury to a visitor or customer
Yes
No
No
Damage to a client's property
Sometimes
No
No
Financial loss caused by an advisory or calculation error
No
Yes
No
Downtime after a ransomware attack
No
No
Yes
Data breach involving personal data
No
Sometimes
Yes
Damage to property in your care
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.
Importing makes you the producer
If you bring goods in from outside the European Union or put them on the market under your own brand, you are a producer within the meaning of Article 6:185 of the Dutch Civil Code. An injured party then turns to you, not to the manufacturer in the country of origin, and liability arises without fault having to be proved. So state when you apply where your product range comes from.
A recall costs more than the damage
If a batch turns out to be defective, the cost of tracing, retrieving, storing and destroying it is often higher than the damage the product would have caused. Recall costs are not damage to property or to a person and therefore fall outside ordinary liability cover. Separate recall cover exists; without that extension you carry the whole operation yourself.
Stock is rarely in one place
External storage, consignment stock at a customer, a second warehouse or goods in transit: only locations shown on the policy schedule are insured. If you move stock to a rented unit or leave part of it with a fulfilment provider, report it. Goods in transit need their own cover; the fire policy on your premises does not travel with the lorry.
Two policies because you do two things
Public and employers' liability insurance covers damage to property and people; professional indemnity insurance covers financial loss without anything being broken. If you supply products and advise on them, the two categories meet. Delivering the wrong size is property damage; wrong advice on how to use it is financial loss. Without both covers the claim falls exactly between your policies.
What does your premium depend on?
Stock value and peak moment. The highest value in the year determines the sum insured, not the average.
Origin of the product range. Importing from outside the EU or using your own brand makes you a producer and increases the risk.
Balance between trade and advice. The share of advisory turnover determines whether and how heavily professional indemnity cover is included.
Number of storage locations and security. Each location separately on the policy schedule, with burglary and fire precautions.
Goods in transit and on consignment. Transport and stock held by third parties call for their own cover and limit.
Turnover and payroll. Trading turnover and headcount together form the basis on which the premium is calculated.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your activities, turnover 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.
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.
When you import a product from outside the European Union or when you put your own name, brand or logo on someone else's product. Article 6:185 of the Dutch Civil Code then treats you as the producer and places liability for a defective product with you, even without any fault of your own. Referring the injured party on to the foreign manufacturer does not help them, and therefore does not help you either.
Are the costs of a product recall covered?
Not as standard. A recall consists of tracing, retrieving, storing and destroying. Those are your own costs and not compensation to a third party. Ordinary liability cover only pays for the damage the defective product causes to others. If you want the operation itself insured, separate recall cover is needed.
Is stock in external storage covered?
Only if that location is shown on the policy schedule. Fire and burglary cover is tied to the location. A rented unit, a second warehouse or stock at a fulfilment provider falls outside the cover on your own premises. Report every additional storage place with address, value and security, even where it is a temporary overflow.
Why does my AVB not cover an advice error?
Because an AVB is designed for damage to property and people. If you advise wrongly and your client loses turnover as a result without anything being damaged, that is pure financial loss. That type of loss is excluded on the AVB and belongs on a professional indemnity policy. At mixed businesses both policies are usual.
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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