Insurance for Buying Your First Home: Mortgage Requirements

Buying a home is a major milestone. Along with signing the contract at the notary and arranging the mortgage, you are typically required to secure the correct non-life insurance policies. Since you are also moving, this is the perfect time to review your entire insurance portfolio. Mortgage lenders usually demand buildings insurance (opstalverzekering) as collateral. Failing to calculate the correct rebuild value or misunderstanding Owners' Association (VvE) terms for apartments can lead to serious financial vulnerability. Discover how commission-free insurance advice can help you save on your new policies.

Verified by a Wft-certified advisorLast reviewed for accuracy: 2026-06-13

First-time buyers and home movers purchasing residential property in the Netherlands. · Updated: 2026-06-13

Important InformationThe information on this website is for general informational purposes only. This does not constitute personal financial or insurance advice and cannot be taken as a definitive answer. While we strive for accuracy, specific situations and policy conditions can vary depending on the insurer. Always request a free check with our associated advisor for advice tailored to your situation.

Rebuild Value (Herbouwwaarde) vs. Market Value: The Big Difference

A frequent error among first-time buyers is utilizing the market purchase price or tax value of the home for the buildings insurance. The market value is driven by geographic location, plot size, and real estate demand. The land, however, cannot burn down or be blown away by a storm. If you are planning to make your new home more sustainable, see our guide on insuring solar panels and renovations.

The buildings insurance typically covers the physical bricks, mortar, and structure of the house. The rebuild value (herbouwwaarde) is the cost to reconstruct the house from scratch on the same land, using current material and labor rates. If you buy a house for €450,000, the actual rebuild cost might only be €250,000. Compare buildings insurance without commission to get net pricing without hidden broker margin.

Apartments & VvE: Insuring 'Owner's Interest' (Eigenaarsbelang)

If you purchase an apartment, the building structure is collectively insured by the Owners' Association (VvE) under a joint master policy (VvE-opstalverzekering). This means you typically do not need to take out an individual buildings policy.

However, the VvE master policy usually only covers the building's baseline construction. If you or a previous owner installed a high-end kitchen, custom hardwood flooring, or a luxury bathroom, these upgrades fall under owner's interest (eigenaarsbelang). This custom value is often excluded from the VvE policy.

You must insure this value separately, which is typically done by adding an owner's interest rider to your contents insurance without commission. If a water leak occurs, the VvE policy will often only pay to replace standard fittings, leaving you to cover the cost difference for your high-end upgrades.

Legal Expenses Housing: Hidden Defects and the 3-Month Waiting Period

Discovering structural issues like dry rot, foundation damage, or water leaks after moving in can result in costly disputes. Resolving hidden defects (verborgen gebreken) with the seller or holding contractors accountable for poor renovation work typically requires expert legal backing.

A legal expenses insurance policy without commission with a Housing (Wonen) module provides coverage for legal costs in these scenarios. Be aware that most insurers enforce a 3-month waiting period (wachttijd) for new housing policies. This means pre-existing disputes or issues arising within the first three months will often not be covered. If you already have a legal aid policy, ensure this module is active before the key transfer.

Frequently asked questions

When does the buildings insurance need to start?

The policy should typically be active on the day the deed of transfer (transportakte) is signed at the notary and the keys are handed over. This is when your mortgage commences and you bear legal liability.

Is glass insurance separate?

For houses, glass cover (covering expensive HR++ or triple glazing) is typically an optional add-on to the buildings insurance. It is highly recommended. For apartments, check if the collective VvE policy covers glass, as some associations exclude it, requiring you to add it to your contents policy.

Is term life insurance (ORV) legally required to obtain a Dutch mortgage?

Not by law, but nearly every Dutch mortgage lender imposes it as a contractual condition — especially when two income earners jointly purchase a property. The rationale is clear: if one income earner dies, the surviving partner must still be able to service the mortgage. You are generally free to choose your own ORV provider and policy structure, provided the death benefit is at least equal to the outstanding loan balance.

What happens with my buildings insurance if asbestos is discovered during a claim?

If a covered event (such as fire) causes asbestos-containing materials to be disturbed and require removal — common in Dutch homes built before 1994 — most modern buildings insurance policies cover asbestos remediation costs as part of the consequential damage payout. However, if asbestos was already present and you simply want it removed preventively, that is typically classified as a maintenance issue and falls outside coverage. The exact scope varies by insurer; always verify the asbestos clause in the policy terms before signing.

Independent insurance advisor

Wft Certified

Our articles are sent to an internal Discord review flow and manually checked by an independent, Wft-certified insurance advisor (non-life personal & commercial) with years of experience in the Dutch market. This review ensures the content reflects current regulations and that the advice is strictly commission-free and in the consumer's best interest.

Last reviewed for accuracy: 2026-06-13

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