How do I get home insurance for an apartment?

Dormant Homeowners' Association

It’s possible that your apartment complex has a “dormant homeowners’ association.” Technically speaking, a homeowners’ association does exist. However, a dormant homeowners’ association does not take any action. In that case, there’s a good chance you won’t have to pay any dues, since the money isn’t being used for anything.

Homeowners Insurance: Is There a Difference Between an Owned and a Rented Apartment?

There is a significant difference between buying and renting an apartment in this context. When you buy an apartment, you are the (sole) owner. When you rent, you are not the owner. This is why the decision to take out building insurance or not depends on whether you own the property.

Once you have purchased an apartment, you are responsible for ensuring that building insurance is in place for your apartment. You may need to arrange this yourself, or it may be handled through the homeowners’ association.

Have you rented an apartment? If so, you don’t need to take out building insurance yourself. That’s because the owner of your apartment is the landlord. The landlord is responsible for ensuring that building insurance is in place. If damage occurs to the apartment due to fire, storm damage, or burglary, the landlord is responsible for covering the costs. Keep in mind, however, that you are responsible for any damage to your personal belongings, such as furniture and clothing.

You cannot insure damage to (loose) personal belongings under a building insurance policy. To do so, you must purchase a contents insurance policy. Be sure to do this if you want to ensure that your belongings are covered in the event of damage.

Supplemental apartment building insurance: How does it work?

Is your insurance provided through the homeowners' association (VVE)? If so, be sure to check carefully that you are insured for a sufficient amount. You may be underinsured in the following cases:

• You have a larger apartment;
• You have a more luxurious apartment;
• You replaced certain items yourself;
  • (such as installing a high-end kitchen).

The homeowners’ association generally bases its calculations on an average contribution toward your building insurance. If this amount is less than the value of your apartment, you are underinsured. If something were to happen to your apartment, you would not receive compensation for its full value. This would, of course, be a great shame.

If you are underinsured, it is a good idea to take out supplemental building insurance. This is intended to bridge the gap between your basic building insurance and the value of your apartment.

What is an apartment clause?

An apartment clause is a separate liability clause included in your insurance policy. The apartment clause means that if you suffer damage caused by another resident, that damage will be covered.

Example

A fire breaks out one floor below you because a resident left a pot holder on the stove. The flames are eventually extinguished, but not before your concrete floor has been severely damaged. It must be replaced or repaired.

Don't have an apartment clause? If so, you may have to cover these costs yourself. This amount can add up to a significant sum. Therefore, always make sure to include an apartment clause in your policy.

Taking out home insurance with Alpina: What are the benefits?

At Alpina, you can always be sure you’ll get the most comprehensive coverage at the most competitive price. With 48 years of experience, Alpina is always able to provide you with the best insurance advice. You can take out your insurance policy in just a few minutes, so you’re always covered for any situation.

Our customer service team is more than happy to help you with any questions you may have about your (future) insurance.