Getting home insurance prevents you from many unnecessary problems and costs. Which insurance provider and which home insurance policy should you choose?
For over a few years, we have been renting out apartments in Rotterdam, so we know all about arranging it in the Netherlands and are happy to answer all those questions in this blog post, making the whole process a bit easier for you, especially if you’re new in this country. With our help, you can find good home insurance for yourself, and insure your home with confidence!
All You Need to Know About Home Insurance in the Netherlands
"Home insurance protects you from frightful surprises, such as water damage, break-ins, and other unpleasant accidents."
What is Home Insurance?
Having your apartment insured ensures financial protection in case of any unfortunate accident happening to your property and/or your belongings. Depending on your policy, your insurance might cover theft, fire, flood, burglary, accidental damage, and more.
The Importance of House Insurance in the Netherlands
Even though it’s not compulsory in the Netherlands, home insurance will benefit you if you sooner than you could expect. As statistics show, over 640,000 Dutch households lack housing insurance, and the consequences of skipping it process can be horrible!
Since getting your apartment insured is not compulsory in the Netherlands, many people think they can save money by not getting property insurance, but the truth is the opposite. Without it, you become liable for all damages that occur to the interior, such as the floor, walls, and personal possessions in your apartment. Hence, if you’re insured, you can save a lot of money in case of any destruction.
Is Home Insurance Important for Tenants?
If you rent an apartment, you’re the one responsible for getting housing insurance, not your homeowners. Many people think they can save money by not getting property insurance, but the truth is the opposite.
Without house insurance, you become liable for all damages that occur to the interior, such as the floor, walls, and personal possessions in your apartment. Hence, if you’re insured, you can save a lot of money in case of any destruction.
How Does the Home Insurance Application Process Look in The Netherlands?
Step 1
Read the terms and conditions
Before getting any deal, carefully check your insurance policy and what your insurance will cover. This looks different for different insurance providers and different deals.
Step 2
Calculate your premium
Your premium is calculated based on your personal situation and the type of your property. To calculate the premium, you can use online calculators on the insurance providers’ websites.
Step 3
Apply for insurance now
While completing all the steps below, you have a personalized contract and your home is almost insured. Contact the insurance company and protect your property! It will take you just a few minutes.
Understanding Your House Insurance Policy
Don’t worry, the application process is simpler than you think. In most companies, you can do it fully online, and then get your documents via post within 3-4 working days. An insurance policy is starting on the date mentioned on your policy as a starting date and usually lasts for 12 months. At the end of that period, you can either cancel or renew it, depending on your needs. All the precise information you can find in your policy documents.
Different Types of Home Insurances Netherlands: Contents Insurance, Building Insurance, and Liability Insurance
In the Netherlands, when you rent an apartment, you only need 2 types of home insurance:
1.
Contents Insurance (Inboedelverzekering)
2.
Liability Insurance (Aansprakelijkheidsverzekering)
There is also a third type of home insurance you can get in the Netherlands: Building Insurance (Opstalverzekering). However, while renting an apartment, you don’t need building insurance. Your homeowner or owners association will arrange this.
Important Home Insurance Terms Explained
Contents Insurance
When renting in the Netherlands, you only need home contents insurance. A home contents insurance policy covers everything you have inside your house or garden, like furniture, curtains, and all your personal belongings, against unforeseen circumstances like damage from fire damage or break-ins. As for valuable items, the contents insurance will cover up to a certain amount in case of theft. Hence, in order to secure your particularly valuable pieces it’s best to get additional coverage.
Contents Insurance: All Risk Package
It’s an additional package to the contents insurance, thanks to which, a few additional things can be covered. Besides the contents insurance cover, this includes additional coverage of damage done by tenants themselves, for example, dropping a vase.
Liability Insurance
The liability insurance covers damage that occurred in someone else’s house. Usually, there is no own risk (eigen risico).
Own Risk
Those are the costs you have to pay yourself in case of damage. For example, if you have an own risk of €200 and your TV worth €500 gets stolen, you will have to pay the first €200 out of your own pocket while your insurer will cover €300. Pay close attention to this because these costs can range from €0 to €1000.
It is important to note that the own risk is sometimes voluntary: choosing a higher own risk will give you a lower monthly fee.
Estimated Home Insurance Cost per Month
The monthly home insurance prices in the Netherlands differ per person, house, and area and are based on the company’s risk analysis. People with higher incomes will have a higher monthly fee as the value of their belongings is assumed to be higher. The area also makes a difference due to the probability of break-ins as well as the condition of the building.
Cheap contents insurance policies start at around €100–€120 a year, with average contents insurance varying from around €150 to €250 per month. When it comes to the cheap liability plans, they start at around €25–30 a year. You can find coverage for €2.5 million for about €50–60 a year.
The Best Home Insurance Providers in The Netherlands
We did a lot of research on the best home insurance providers and different insurance deals you can find in the Netherlands to help you find the best rental property insurance in the Netherlands. Here we present you our best findings.
The Best Home Insurance in The Netherlands: Allianz Direct
We believe price/quality is the most logical way to compare the available insurance companies. In terms of the price/quality ratio, Allianz Direct scores the highest and offers the best contents insurance for renters!
It is a very reliable insurer with solid customer service, available 24/7. This insurance provider offers a cheap home insurance compared to other companies with such terms and services, hence it can be a perfect student home insurance. Allianz Direct’s price/quality ratio is proven to be the best out of all the available insurance companies and Allianz Direct’s all-risk policy is best when it comes to terms, price, and coverage. Get this top home insurance now!
Most Sustainable Home Insurance in The Netherlands: Aegon Basis
If you wish to go for a more sustainable option, we recommend Aegon Basis. In terms of price, it is similar to Allianz Direct and also offers low cost house insurance, but Aegon has a strong focus on sustainability and has set ambitious targets to reduce its carbon footprint. The company also supports a number of social initiatives and community programs around the world.
Best Customer Service Home Insurance in The Netherlands: Centraal Beheer
Centraal Beheer is committed to providing excellent customer. It offers the best-rated home insurance and s received high marks from customers for its responsiveness and efficiency in handling claims. However, this is not a budget home insurance provider.
Coverage and Terms
Property Coverage – What is Typically Covered in a Home Insurance in the Netherlands? Insurance Policies and Claims Explained.
Generally, the coverage for all insurance companies is very similar. Some policies cover a few extra things, like vandalism in the case of Allianz Direct or pets in the case of Centraal Beheer. The following things are covered by all three insurance companies that we mentioned above.
What Is Covered and What Is Not?
COVERAGE:
- Fire (heat and explosions)
- Loss of or damage to possessions (break-ins, theft and robbery)
- Water and steam damage (blocked, burst and overflowing pipes)
- Nature damages (storm above wind force 7, heavy rain, lightning strikes and impact by hail)
- Unwanted animals
- Falling objects (falling trees and branches, meteorites, cranes, pile-drivers, air and spacecrafts)
NO COVERAGE:
- Damage caused by intent or recklessness
- Damage caused by everyday usage
- Earthquakes and floods
You can find more details about the coverage of Allianz Direct, Aegon Basis, and Centraal Beheer on their websites.
Get Your Home Insurance in Rotterdam Now!
…and sleep well. By having your home insured, you’re being sure that all your valuable items are safe and that in case of any fire or burglary, you will not bankrupt. Insurance is a good purchase so buy home insurance now!
However, if you still have any questions, don’t hesitate to contact your insurance provider. You will receive the most relevant information there.
