Buildings insurance (opstalverzekering) within VvE insurance
The buildings cover is the largest but not the only policy an owners' association has. Anyone insuring only the building leaves liability, the board and legal costs unattended.
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In brief
An association's buildings insurance covers physical damage to the building: fire, explosion, storm, lightning, damage from burglary and water damage from pipes. That is exactly what it is, and no more. A claim from a visitor who trips over a loose paving slab in the entrance, a complaint against the board about a renovation decision that went wrong or a dispute with a contractor all fall outside it. Each of those three needs a policy of its own.
In a complete package, alongside the buildings cover there are usually the liability insurance for damage to third parties, the directors' and officers' liability insurance for personal complaints against board members, the legal expenses insurance for disputes with suppliers and tenants, and glass cover. The structure and how it fits together is set out at the VvE package.
Also a small association of two or three flats needs these policies. In law there is no difference: the association is a legal entity, is the possessor of the building and is liable under Article 6:174 of the Dutch Civil Code if the structure is defective. The practical difference is that there is no managing agent to raise the alarm. Who signs, who collects the contributions and who reports a claim then has to be expressly agreed.
This page deals with one situation. The full overview is on Compare buildings insurance (opstalverzekering).
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Get coveredWhy 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.
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We are not tied to one insurer and compare on the basis of an objective analysis of several companies.
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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.
What to look out for
Four points when putting together an association's insurance.
The association is the policyholder
Not the board member personally and not the managing agent. If the policy is in the name of an individual owner, that is a mistake that only comes to light in a large claim. Check the policy schedule for the name, the association's Chamber of Commerce number and the address of the complex, including all house numbers and storage units.
Contributions by fractional share, not by floor area
The premium comes out of the communal funds and is divided among the members according to the fractional shares in the deed of division. That means an owner with a larger share pays more, even if their flat is smaller than someone else's. Any argument about this belongs in the general meeting, not with the insurer.
Glass separately or included
Breakage of glass in communal areas, entrances and stairwells is not insured under every building policy. Sometimes separate glass cover applies, sometimes a sub-limit. Without that cover, the association pays for every broken pane out of its funds. See compare glass insurance.
What is never on the buildings policy
Excluded are the contents belonging to occupants, the owner's interest of individual members, monetary claims against the association, fines and penalty payments, and damage caused by poor maintenance. A complaint against a board member about a decision is not damage to the building either. Work out those four elements separately before you compare a policy on premium.
What does your premium depend on?
- Size of the complex: number of apartment rights and outbuildings
- Rebuild value: valued or calculated, with or without indexation
- How the package is put together: separate policies or one package with the same renewal date
- Communal facilities: a lift, car park, heat pump or shared installation
- Claims history: above all repeated leaks and storm damage
- An active or dormant board: determines whether maintenance and notifications are in order
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Extended | Comprehensive |
|---|---|---|
| Lightning puts the lift installation out of action | Yes | Yes |
| A fitter drills into a pipe while installing a handrail and the hall floods | No | Yes |
| Graffiti on the facade after a night of vandalism | Provided that | Yes |
| A tree from the communal garden blows over and damages the roof edge | Yes | Yes |
| Damp in the cellar that has been there unnoticed for years | No | No |
| A leaking expansion joint in the parking deck that was already in the maintenance plan | No | No |
Comprehensive cover mainly adds the sudden accidents coming from outside. A creeping defect remains at the association's expense under both forms.
Frequently asked questions
This is what people ask us most.
Does a VvE of two flats need all of this?
The buildings cover and the liability cover, yes. The building is indivisible and the association remains the possessor of the structure, even with only two members. Directors' and officers' liability and legal expenses cover depend on the situation: if the property is let or major maintenance is planned, they count for more than with a stable small building without plans.
What is the difference from ordinary home insurance?
Home insurance is intended for one home with one owner and one sum insured. With an association there is one policy for several owners, with a formula for dividing the premium and the excess and a demarcation between communal and private parts taken from the deed of division. That makes the underwriting and claims handling fundamentally different.
Who decides on the choice of insurer?
The general meeting of owners, usually on a proposal from the board or the managing agent. The decision belongs in the minutes, including the form of cover chosen and the excess. A board member who takes out a policy with limited cover on their own initiative can later be held personally responsible for it. That risk sits with the directors' and officers' liability insurance.
Does the cover continue if the association collects nothing?
Only for as long as the premium is paid. If contributions do not come in and the premium falls into arrears, the insurer can suspend the cover. At that moment the building is uninsured while the owners are jointly and severally liable for the rebuilding costs. A separate provision for the insurance premium in the budget prevents this.
Every situation is different. For these situations we have a separate page.
- Compare buildings insurance (opstalverzekering)The main page
- Buildings insurance (opstalverzekering) in a VvE in practiceCommunal part, reporting, Article 6:174 DCC
- A flat and buildings insurance (opstalverzekering)Deed of division, owner's interest, fractions
- Taking out buildings insurance (opstalverzekering) for your VvEValuation, index, increase in risk
- Insurance for the VvEStatutory obligation, valuation, board and management
- The VvE's buildings insurance (opstalverzekering)Deed of division, rebuild value, owner's interest
- Buildings insurance (opstalverzekering) for an apartmentThe VvE insures the building, owner's interest, excess
- Buildings insurance (opstalverzekering) for a VvECommunal building, valuation, deed of division