VVE and Liability: Which insurance policies do you need for common real estate?

An association of owners (VVE) is responsible for the management and maintenance of common parts of a building, such as stairwells, lifts, facades and roofs. But what if there is damage to third parties due to a poorly maintained balcony ? Or if a loose roof tile falls on a passer -by ?

In such situations, the VvE can be held liable , with possibly high damage claims as a result. That is why it is crucial that a VvE takes out the correct insurance policies to protect both the building and the financial interests of the members.

In this blog we discuss which liability risks a VvE is running , which insurance policies are mandatory and what you should pay attention to when choosing the correct coverage .

1. Why is liability a risk for a VvE?

A VvE is responsible for the maintenance and management of the common parts of a building. damage caused to third parties due to overdue maintenance or a lack of the building , the VvE can be held legally liable.

Common liability risks for a VvE

✔ Personal injury due to poor maintenance - think of a loose tile in the stairwell, causing a visitor to stumble.
✔ Damage to vehicles or property of third parties - for example, a façade plate that comes loose and damages a parked car.
✔ Storm or fire damage to neighboring buildings- when a roof tile of the building ends up on an adjacent building and causes damage.
✔ Water nuisance due to leaks - for example if a jumped lead in a joint space causes damage to apartments.
✔ Damage due to work - for example if maintenance on the roof is carried out incorrectly and water is seeping downwards.

Do you want to cover these risks? Then a liability insurance for VVEs essential.

2. Which insurance policies does a VvE need?

A VvE needs several insurance policies to limit risks. Some are mandatory , while others are strongly recommended.

✔ 1. Storage insurance (mandatory)

A home insurance for VVEs covers damage to the common parts of the building, such as:

🏢 facades and roof constructions
🚪 staircases, lifts and common halls
💡 electrical installations and pipes

Why is this mandatory?
According to the law, a VvE is obliged to take out home insurance to cover damage to the building.

📌 TIP: Check whether the insurance also covers damage due to natural disasters, storm or fire damage.

✔ 2. Liability insurance VVE (required in the event of legal liability)

A liability insurance for VvEs protects the association against claims from third parties in the event of damage by the building.

✅ Covers damage to persons or property of third parties
✅ prevents the members from being personally held liable
✅ mandatory if a VvE personnel employs (such as a caretaker)

📌 Example: If a visitor falls over a poorly maintained staircase and submit a claim, this insurance prevents the costs on the VvE members to recover.

✔ 3. Director's liability insurance (recommended)

VVE drivers make important decisions about maintenance and finances. If a director makes a mistake , he can be held personally liable for financial damage.

✅ Protects directors against claims from members or third parties
✅ Covers damage due to incorrect financial policy or mismanagement
✅ Prevents private liability for board members

📌 Example: If a VvE administration incorrectly manages a renovation assignment and this leads to financial damage, members can hold the board liable.

✔ 4. Legal assistance insurance VVE (recommended)

Sometimes legal conflicts arise within the VvE, for example at:

⚖️ Conflicts with contractors or maintenance companies
⚖️ Views between members about service costs
⚖️ Disputes with a tenant or real estate manager

Legal assistance insurance covers the legal costs and prevents the VvE itself from having to engage expensive lawyers.

📌 Example: A VvE has a legal dispute with a contractor about poorly executed roof renovations. Legal assistance insurance helps with the legal procedure.

✔ 5. Glass insurance (optional, but recommended)

In the event of damage to windows in common parts, a glass insurance offer a solution.

✅ Covers damage to windows and doors in common areas
✅ Handy for buildings with large glass parts or joint entrances

📌 TIP: Check whether the home insurance already contains a breast cover before you take out this insurance.

3. What does a VvE Liability Insurance cost?

The premium of a liability insurance for a VvE depends on:

📌 The size of the building - the more units, the higher the premium.
📌 The number of residents and visitors - the more intensive use, the greater the risk.
📌 The insured value - the higher the insured amount, the higher the premium.
📌 coverage options - Extra coverage for glass, legal aid or directors' liability increases the costs.

💰 Indication of costs:
🔹 VvE Liability Insurance - from € 100 per year
🔹 VvE home insurance - from € 750 per year
🔹 Driver's liability - from € 200 per year

💡 Do you want to know what the best insurance is for your VvE? Ask for a customized quote from Finass insures .

4. Frequently asked questions about VvE Insurance

💬 Is liability insurance required for a VvE?
Yes, if a VvE personnel employs or manages common areas, this insurance is mandatory.

💬 What happens if a VvE has no home insurance?
Then the individual apartment owners pay for the costs in the event of damage to the building.

💬 Are tenants of apartments automatically insured?
No, tenants must household effects and liability insurance for their own property.

💬 Does VVE insurance also cover damage due to overdue maintenance?
Not always. Some insurers refuse benefit if it appears that the damage could have been prevented due to good maintenance.

💬 Can a VVE take out collective glass insurance?
Yes, that is possible and often cheaper than individual insurance policies.

5. How do you take out liability insurance for a VvE?

Do you want to optimally protect your VvE? Follow these steps:

1️⃣ Analyze the risks - which common parts fall under the VvE?
2️⃣ Compare Insurance - Choose insurance with the correct coverage.
3️⃣ Request a quote from Finass insure - our specialists help you with a customized policy.
4️⃣ Take out the insurance and protect the VvE against financial risks!

💡 Prevent liability claims and financial surprises! Request a free quote today. 🚀