Who pays for the buildings insurance (opstalverzekering)?
The premium goes with ownership of the bricks and mortar, and that explains why the bill lands somewhere else with a rented home, a flat or a ground lease.
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.
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A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
The starting point is simple: whoever owns the building bears the risk of losing that building and therefore pays the premium. If you live in a home you own, you are that owner and the payment is collected in your name.
In other arrangements it becomes more indirect. With a tenancy the landlord pays, but the amount is built into the rent; it is not an item that may be charged separately as a service cost. With a flat the association pays out of the contributions, divided according to the fractional shares in the deed of division.
With a sale, a ground lease and joint ownership there is a further layer: who pays the premium is then not always the person named on the policy.
The structure of the cover in three parts, with an overview per situation below.
The basis
Rebuild value
What it costs to rebuild the premises.
Not the market value
Not the WOZ value (the Dutch property valuation)
Guarantee against underinsurance
Permanently fixed
What is included
Everything permanently attached to the building.
Building and installations
Outbuildings
Boundary fences
Optional
Extensions
What is excluded as standard.
Glass
Garden landscaping
Inherent defect and foundations
What is covered
Situation
Standard
With extension
Fire, smoke and lightning strike
Yes
Yes
Storm from force 7 upwards
Yes
Yes
Water damage from a burst pipe
Yes
Yes
Glass breakage
Sometimes
Yes
Groundwater coming through the floor
No
No
Wear and deferred maintenance
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.
Owner-occupier with a mortgage
The premium is not part of your monthly payment to the lender. You take out the policy yourself and pay it yourself. The mortgage holder is noted on the policy schedule as an interested party, so that a payment for major damage does not bypass them. If you do not pay the premium, the cover can be suspended and that is a breach of your mortgage conditions. So keep the payments running.
A rented home: the landlord pays
Buildings insurance protects the landlord's property and is therefore at their expense. They factor those costs into the rent, but may not charge them alongside the rent as a separate service cost item. What the tenant pays for is their own home contents insurance and cover for tenant's interest: the kitchen or bathroom they had installed at their own expense.
A flat: out of the VvE contribution
The association is the policyholder and pays the premium out of the joint contributions. Your share follows from the fractional share in the deed of division, so a larger flat bears a larger part. The excess is separate from this: many associations pass it on to the owner in whose private part the damage arose. If you let the flat, the contribution remains your obligation, not your tenant's.
With a sale, a ground lease and co-ownership
If you transfer the home, the insurance passes under Article 7:948 of the Dutch Civil Code to the new owner, unless they or the insurer cancels it. The notary settles the premium paid in advance in the completion statement. With a ground lease or a right of superficies you own the building and pay the premium, unless the deed provides otherwise. With two owners, the insurer looks to the policyholder.
What does your premium depend on?
Rebuild value of the building. The sum on which the premium is calculated, regardless of who receives the bill.
Payment term. Annual payment is usually cheaper than paying monthly or quarterly.
Excess chosen. What you bear yourself when you claim brings down the premium you pay.
Package discount. Several policies with the same company can affect the premium.
Use of the premises. Owner occupation, letting or business use lead to a different rate.
Construction type and state of repair. The construction, roof covering and condition of the installations count in the rate.
Insurers weigh these details differently. That is where your saving is.
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.
As a tenant, do I contribute to the buildings insurance?
Indirectly, through the rent. The landlord insures their own property and builds those costs into what you pay monthly, but may not charge you the premium as a separate service cost item. If you see that item listed separately on your statement, ask for it to be substantiated; service costs should concern supplies and services you actually use.
Is the premium part of my mortgage payments?
No. You take out the buildings insurance yourself and pay it directly to the insurer. The lender does require the policy to exist and has itself noted on the policy schedule as an interested party, so that a payment for major damage also accrues to them. If you stop paying, the cover can lapse and that affects your mortgage conditions.
Who pays the premium after the home is sold?
You do until the transfer, and the new owner after that. Under Article 7:948 of the Dutch Civil Code the insurance passes by operation of law to whoever acquires the interest, unless they or the insurer cancels the policy within the statutory period. The notary settles the premium you paid in advance in the final completion statement.
Who pays with co-ownership or after a divorce?
The insurer looks to the policyholder on the policy schedule. That person is answerable for the premium, even if you agreed something else between yourselves. If one of you stays in the home while both are owners, keep both names on the policy until the ownership position has changed. Arrange the division between you in the settlement agreement.
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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