Some types of insurance are obligatory in the Netherlands, some are strongly advisable and others are dependent on your situation. Insurance can be purchased directly from an insurance company, or via a bank or through a financial advisor.
Opstalverzekering (Residential Premises Insurance) is obligatory for property owners. When purchasing an apartment, this is sometimes organised via the Vereniging van Eigenaars – VVE (Homeowners Association).
Wettelijke Aansprakelijkheidsverzekering – WA (Third party/liability) is obligatory vehicle insurance that covers damage to third parties in the event of an accident.
Levensverzekering (Life Insurance) is a contract made with an insurance company, whereby the insurance company agrees to pay money to surviving family members in the event of death. Life insurance is a requirement when applying for certain types of mortgage in the Netherlands as it will cover remaining payments in the event of death.
Aansprakelijkheidsverzekering (Personal Liability Insurance) protects a person or entity from claims initiated by another party. This insurance covers unintentional damage to another person or another person’s property (such as a football through a neighbour’s window, or damage caused by a bike to a neighbour’s car). Damage caused by motor vehicles is not covered by this insurance.
Inboedelverzekering (Home Contents Insurance) covers damage to household goods caused by fire, burglary, explosion, storms, water, and various other factors. It is important that the sum insured is up to date with the actual value of the goods.
Rechtsbijstandsverzekering (Legal assistance/aid insurance) provides cover (worldwide) for the costs of legal disputes in criminal cases and legal assistance following an event in which damages have been sustained. Examples are injury in a collision where the responsible party denies liability, or sorting out the financial consequences of a multiple car crash. It can provide legal assistance in disputes of social, contractual, and labour law issues, consumer conflicts and housing issues.
Reisverzekering (travel insurance) also applicable to other family members, it covers loss or theft of luggage, medical costs and assistance, cancellation costs, and other risks when travelling. Standard Zorgverzekering (National Health Insurance) will cover medical expenses abroad up to the level of Dutch insurance.
Travellers to the United States and Canada are advised to take out additional travel insurance because of the excessive difference in health care expenses in those countries, which are markedly above what can be reimbursed under standard health insurance.
Wettelijke aansprakelijkheid + mini casco (Restricted comprehensive cover) covers third party damage as well as vehicle damage caused by things not under a driver’s control such as: fire, explosions, lightning, theft, storm, and broken windscreens.
Wettelijke aansprakelijkheid + volledig casco (Comprehensive cover) covers third party damage as well as comprehensive vehicle cover including collision or legal expenses.
Arbeidsongeschiktheidsverzekering – AOV (Disability Insurance) covers against invalidity or illness which causes loss of income for business owners, entrepreneurs and freelancers.