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What is owner's interest in a home contents insurance policy?

You have just become the owner of your new home or you have just started renting. Then you start looking for the corresponding insurances: home insurance and building insurance. Are you buying or renting a flat or flat? Then you probably don't need home insurance. Often, this responsibility lies with the Owners' Association (VvE) (or, of course, the landlord). It is possible that these insurances are not sufficient for you. In that case, you can also insure the owners' interest. But what is the Owners' Interest? And what do you insure? This is discussed further in this article.

What is owner interest?

Owner's Interest is an additional cover that insures you for extra facilities that other insurance policies do not cover. You will often find this in flats and flats. The building insurance covers the value of the house upon completion, but not the facilities that you have installed in the house. It is useful to take out this insurance if, for example:

  • The bathroom has been remodelled;
  • Installed an expensive floor;
  • Enlarged the kitchen considerably;
  • Installed an expensive sliding door to the balcony.
contents insurance for owner's interest

What is the value that you include in the insurance?

That depends entirely on the insurance you take out for the owner's interest. This part is often included in the contents insurance. Whether or not you can include the owner's interest in your insurance policy depends on the home contents insurance policy. Some home contents insurances have no maximum value while other insurers cap the maximum value at €10,000.

It is wise to take into account the coverage offered by the insurer. Always check the conditions that the insurer uses before you take out the insurance. This way, you will not be faced with unpleasant surprises when submitting a claim.

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Conditions for co-insurance of owner's interest

Not every insurance company offers the option of including the owner's interest. If the insurer does offer this, it is wise to compare the premiums with each other. The premiums can be very different. The conditions imposed by the insurers also differ. Always look carefully at the premiums and conditions that the insurer offers when taking out home contents insurance with an owner's interest.

There are also causes of damage that some insurances do not cover. For example, fire due to your own fault or leakage due to overdue maintenance. The conditions of the insurance are of crucial importance for you if you want to be properly insured.

The VvE insures the owner's interest anyway

In an apartment complex or flat, the chances are small that you are the only one living there and making adjustments to the house. It is therefore possible that the owner's interest is also insured by the VvE. In that case all residents have to contribute to the insurance. This will increase the premium.

A disadvantage of this is that you contribute to the luxury kitchen of the upstairs neighbours while you have a simple interior. The advantage is that you and your neighbours can report all damages to one insurer. This way, there is no need to point out to each other where the damage should be claimed.

More information about insurance? Check out the options at Alpina!

Do you want to co-insure the owner's interest in your home contents insurance? Then you have come to the right place at Alpina. At Alpina you always get the most complete insurance at the right price. Do you have any questions about insurance? Please contact us or request a no-obligation quote.

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  • To calculate premiums, we need the zip code of the primary driver. For private use, the youngest driver must reside at the same address as the applicant. In case of business use, you can enter the postal code of the company here.

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