Apart from specialised insurance companies, other organisations that provide insurance, like banks, offer a wide range of insurance packages that may include a car, life, burial, accident, liability, rental, building, homeowner’s and legal support insurance. For high-value items such as art, jewellery and antiques, you will need a separate 'kostbaarheden' (valuables) insurance.
Combination packages allow you to bring down costs and avoid the problems of figuring out what company or policy covers what type of damage in times of need. Be sure to shop around at different suppliers, as costs and coverage may differ. You can also ask your Dutch bank for information. The most common insurances are;
Basic health insurance
Anyone who's 18 or older and receiving a salary, benefit payment or pension, is obliged to take out basic health insurance. This type of insurance covers the most important healthcare services that you might need to avail of, like the GP, hospital and medication. Insurers are legally bound to take on any person who applies for basic health insurance. You can also take out a supplementary insurance policy. This is not compulsory.
WA insurance for a motor vehicle
Do you have a motor vehicle registered in your name, like a car, motorcycle or moped? If so, you're legally required to at least take out a WA insurance for it. WA insurance covers damage that you cause to another person's property. If you want to take out insurance to cover damage to your own vehicle, you can add limited coverage ('beperkt casco' in Dutch) or all-risk coverage ('casco'). Driving uninsured can lead to significant fines. There also supplementary car insurance policies. These are not compulsory.
Private liability insurance ('Aansprakelijkheidsverzekering voor particulieren' - AVP in Dutch) is not legally required but can be a smart option. It's sometimes confused with the motor third party liability insurance ('Wettelijke aansprakelijkheidsverzekering' in Dutch - WA insurance), which is mandatory. The distinction between the two is important. AVP covers damage that you cause to another person's property. Think of knocking over a friend's expensive vase or dropping your bicycle against your neighbour's car. Your WA insurance policy also covers the damage you do to another person's property, but only if it's caused by your car. AVP usually covers damages up to an amount of €1,250,000 and will only cost you a few euro a month.
Legal expenses insurance
Legal expenses insurance offers help during legal conflicts. This only applies to unexpected conflicts that are not already on your horizon when you take out the policy. You can't take out a legal expenses insurance for conflicts that are already ongoing.
A household insurance policy allows you to insure the loose objects in your house (anything you can pick up and take with you when you move house). This type of insurance is not mandatory but could still serve you well. Your material possessions can be worth quite a bit, and the premium of a household insurance policy isn't very high, so might be worth it.
Are you planning to frequently visit your family in your old country or do you like taking holidays? In that case, we advise you take out a travel insurance policy. It will insure you against unexpected damages that you might be faced with on your holiday, such as cancellations, theft or the loss of baggage.
Cancellation insurance is often taken out together with travel insurance. It covers your costs that arise from suddenly not being able to travel or the need for an early return. Important detail: you'll only get the costs reimbursed if it concerns an unexpected cancellation, i.e. if you couldn't have known before your journey that you were going to have to cancel.
A life insurance policy pays out a specific sum to your next of kin, should you pass away. This type of insurance is not required by law, but if you're, taking out a mortgage for instance, your mortgage provider might require you to also take out life insurance. That way, they can be sure that your mortgage will be paid off, even if you should die before the mortgage has been fully repaid.
A funeral insurance covers the costs of your funeral. This type of insurance is not legally required. People generally take out this type of insurance to prevent their next of kin being burdened with unexpected costs. After all, funerals can be quite expensive. You can also keep some savings reserved for this purpose of course.