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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 situation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
Insuring a watch is above all an administrative step: the item goes onto the policy with its make, model and serial number, a valuation or purchase invoice goes with it, and the cover only starts once the insurer has confirmed it. Anyone who skips that and relies on the home contents insuranceonly discovers the limit when a loss occurs.
The application carries the duty of disclosure under Article 7:928 of the Dutch Civil Code: earlier losses, a criminal record and the way you keep the watch must be stated correctly. If things turn out otherwise afterwards, the insurer can reduce or refuse payment under Article 7:930 of the Dutch Civil Code.
The structure of the cover in three parts, with an overview per situation below.
The cover
Comprehensive
Loss, falls and damage as well.
Theft and loss
Falls and knocks
Covered worldwide
The value
Valuation
Agreed in advance, no discussion afterwards.
Article 7:960 of the Dutch Civil Code
Period of validity
Periodic revaluation
Please note
Conditions
What limits the cover.
Safe clause at home
Conditions on wearing the item
Excess per item
What is covered
Situation
Home contents
Valuables
Theft after a burglary at home
Sometimes
Yes
Loss outside the home
No
Yes
Falls or knocks
Sometimes
Yes
Theft from a bag in the street
No
Yes
Damage abroad
No
Yes
Wear and tear and ageing
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.
Declare each item or use a single combined amount
There are two ways of including watches: each piece separately with its own sum insured, or one unspecified amount for the whole category. With a combined amount you have to show for yourself after a theft exactly what was gone and what it was worth. With a declaration per item that is already established. Above modest amounts insurers require a specification in any case.
The valuation has a shelf life
A valuation under Article 7:960 of the Dutch Civil Code binds the insurer to the amount established, but policies attach a period of validity to it, often three to five years. Once that has passed, you fall back on the market value at the time of the loss and the argument starts after all. Put the expiry date in your diary, not only in the report.
Where the watch is kept when you are not wearing it
Almost every valuables policy has a storage provision: above an amount named on the policy schedule the watch belongs in an approved safe as soon as you are not wearing it. If it is in a bedside table during a burglary, payment is made up to that amount and no further. So choose a clause that fits your habits, or change the habits.
Reporting and supporting a claim after a theft
Article 7:941 of the Dutch Civil Code requires you to report the loss as soon as possible and to cooperate in establishing it. In practice the insurer asks for a police report, the purchase invoice or valuation, photographs and the serial number. If the serial number is missing, the watch cannot be entered in the international register and the burden of proving ownership becomes your problem.
What does your premium depend on?
Total sum insured of all watches — The sum of the declared items forms the basis of the calculation.
Specified or unspecified — A declaration per item with a valuation is assessed differently from a single combined amount.
Age of the valuation — A recent valuation limits the risk of underinsurance and of argument afterwards.
Safe and burglary protection of the home — Safe grade, locks and fittings and an alarm installation all count.
Claims history on valuables — Earlier claims for loss or theft influence acceptance and the premium.
Area of cover chosen — The Netherlands only, Europe or worldwide; outside Europe an additional loading often applies.
Insurers weigh these details differently. That is why comparing pays off.
How we arrange it
You request a quoteWe take stock of your situation, your risk and your 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.
Do I have to put every watch on the policy separately?
Above modest amounts, yes. Insurers then ask for the make, model, serial number and a valuation or invoice for each piece. Below that threshold an unspecified amount may be enough, but you then bear the burden of proof yourself after a theft as to what was gone. Specifying takes some effort once and saves a great deal of argument when a loss occurs.
How long does my valuation remain valid?
Policies usually name a period of a few years within which the valued amount is binding. After that the market value at the time of the loss applies. Check the period of validity on your policy schedule and have a new valuation carried out in good time, certainly if the market price for your model has changed since the last valuation.
What should I do immediately after a theft?
Report the theft to the police and notify the insurer of the loss as soon as possible, as Article 7:941 of the Dutch Civil Code requires. Provide the valuation or invoice, photographs and the serial number with it. The serial number allows the watch to be registered internationally as stolen, which improves the chance of it being found.
What is never covered on a valuables policy?
Wear and tear, ageing and inherent defect of the movement are excluded, as is damage arising during a repair or treatment. Intent and withholding information on the application also lead to loss of rights. Nor should you count on cover for a fall in the market: that is not damage within the meaning of the policy.
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.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
