Buildings insurance (opstalverzekering) for a villa

An agreed valuation fixes the value, not the cover

An agreed valuation under Article 7:960 of the Dutch Civil Code binds both parties to the assessed amount. Disputes about underinsurance therefore fall away, but the rest of the policy continues to apply in full: the report says nothing about whether the cause is covered. Settlement, pile rot, poor maintenance and slow-acting damp remain excluded, however recent the valuation. Also watch the period of validity; it is stated on your policy schedule and it expires.

The finish determines the rebuilding costs, not the volume

Two properties of the same volume differ widely in rebuilding costs as soon as one has a standard finish and the other has natural stone, resin floors and made-to-measure window frames. The repair time differs too: made-to-measure glass, curved frames or a particular type of brick have lead times, and that time runs on in the cost of alternative accommodation. Have the valuer name those elements separately rather than writing them off under a general heading for finishing.

The swimming pool, pool house and landscaping stand apart from the buildings

Site features do not automatically belong to the insured building. A swimming pool with filtration and heating, a pool house, garden walls, fencing with access control and the paving of the drive fall under a sub-limit in many policies or outside the cover. Planting and trees are almost always excluded, even where they are lost in a fire or storm. Declare each element with a value of its own and then check that it appears word for word on the policy schedule.

The security clause is a condition, not a recommendation

For high sums insured, insurers include a clause on certified locks and fittings and often on an alarm system monitored by an alarm receiving centre. If that provision is missing or the alarm was switched off, damage from burglary will not be paid or only in part. Theft without signs of forced entry is excluded in any case. Answer the questions about security on the application in full: incorrect information falls under Articles 7:928 and 7:930 of the Dutch Civil Code.

Security as a condition

For higher sums insured, insurers require certified locks and fittings and often an alarm connected to an alarm receiving centre.

A guarantee against underinsurance is not automatic

If you fill in the insurer's rebuild value calculator correctly, you will usually receive a guarantee against underinsurance: in the event of a claim the actual amount is paid, even if the sum insured turns out to be too low. Your policy schedule states whether you have that guarantee. Without it, the proportionality rule applies, and that also affects small claims.

Buildings insurance (opstalverzekering)