Insurance can be purchased from an insurance company, a bank or through a financial advisor. Some companies have a collective insurance scheme that allows their employees to arrange their insurance via a specific company at a discount.
Below is an overview of just some of the various types of insurance available. The level of coverage offered varies per provider. What is included in the basic policy of one provider may be an optional add-on with another provider. Always check carefully what is and is not included in the policy you are taking out.
Accident insurance (ongevallenverzekering)
Accident insurance pays a fixed amount in the event of permanent disability or death due to an accident.
Household contents insurance (inboedelverzekering)
Household contents insurance covers damage to your household goods and personal possessions inside your house caused by fire, theft, and various other factors. The sum insured will usually be subject to average, so it is important that your sum insured is up to date.
Legal assistance insurance (rechtsbijstandsverzekering)
An increasingly popular insurance in the Netherlands, this insurance may provide the coverage (sometimes worldwide) for the costs of legal disputes. Depending on the coverage you choose, it can cover legal assistance for social, contractual, labor law, consumer, or housing disputes, for example. This insurance usually includes a telephone helpline you can contact for advice.
Life insurance mortgage (overlijdensrisicoverzekering)
If you buy a house and take out a mortgage, it is often mandatory to take out life insurance connected to the mortgage to cover the remaining payments in the event of death.
Motor vehicle insurance (autoverzekering)
This insurance is mandatory for vehicle owners. In the Netherlands, it is mandatory to have a motor vehicle insurance for each vehicle you own, at least for third party liability. The owner of the vehicle insures the vehicle and is held responsible, irrespective of the driver.
There are three options for insuring a vehicle in the Netherlands:
- Third party liability (wettelijke aansprakelijkheid, WA)
- Third party liability + restricted comprehensive cover (WA + beperkt casco)
- Third party liability + comprehensive cover/all risk (volledig casco).
The insurance documents must be carried in the car. In the event of an accident, each person involved must fill in a claim form and send it to their respective insurance company. The form available is the same for each insurance company, and drivers are advised to keep a form in the vehicle at all times.
Personal liability insurance (aansprakelijkheidsverzekering particulieren, AVP)
This insurance protects a person or entity from claims initiated by another party. For instance, if you or one of your family members unintentionally causes damage to another person or another person’s property, such as a tree in your garden falling and damaging a neighbor’s house. Although some people think this is a compulsory insurance, it is not. However, many people in the Netherlands take out this insurance.
Residential premises insurance (opstalverzekering)
This insurance is mandatory for property owners. It insures the costs of rebuilding your house on the same property in the event of serious destruction.
If you have bought an apartment, your homeowners association sometimes provides the insurance, but it is important to confirm this.
This insurance is usually paid by the owners of furnished rented properties (you must confirm this with the owner), but tenants will still need contents insurance to cover their personal possessions (see household contents insurance).
Annual travel insurance (doorlopende reisverzekering)
If you travel often, it is usually cheaper to take out an annual policy rather than taking out a separate policy for each trip. You should check carefully what is included in the basic policy of your provider. Some items, such as loss or theft of luggage, winter sports, and cancellation, might be considered optional extras that you need to add to your policy. You should also check whether you need to take out additional medical expenses cover as your Dutch medical insurance will only cover medical expenses abroad up to the equivalent cost of the same treatment in the Netherlands.