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I bought an apartment off plan and opted for more luxurious options for the finishing (doors, floors, skirting boards and kitchen). Am I sufficiently insured through the block policy of the apartment?

A house (house or apartment) that you buy on plan often includes a fairly limited budget for the standard finish. This may concern the choice of sanitary appliances, kitchens, floors, doors, and so on. If you buy the house for your own use, you will soon exceed that budget.

A block policy is a fire insurance policy that covers a building with several apartments, excluding the contents (the contents) of the occupants. This means that all parts that are “attached” to the building are, in principle, also covered in the block policy, including the kitchen, doors, floors, etc.

However, it is possible that the block policy only takes into account the standard amounts provided or a general standard of standard finishing that can be found in every apartment. If you have opted for a more luxurious or more expensive finish, or if you replace the standard furnishings with more luxurious equipment after a few years, it is advisable to check whether the insurance of the building (the block policy) offers sufficient cover and whether you are underinsured. for the more expensive furnishing of your home. Check it in the general terms and conditions of the policy or ask the property manager and/or the insurer to be sure.

If it turns out that the coverage of the block policy is not sufficient, it is best to provide extra protection yourself. Visit your insurer of your contents (house contents) or discuss the possibilities with him to be sufficiently insured. You can also arrange this with the block policy insurer, which will offer you sufficient cover subject to an additional individual additional premium. You are not bound by the insurer of the block policy or the contents of your home, but you do know that in case of damage it makes things easier if fewer insurers are involved.

Both co-owners and syndics can be confronted with the consequences of damage when owning and managing buildings in co-ownership. Providing appropriate insurance requires extensive specialization, because all legal and statutory obligations imposed on the various parties must be taken into account.

Which insurance policies should you take out as a co-owner?

The law on co-ownership only requires liability insurance for the syndic of the building. Although you, as a co-owner, have no further obligation to take out insurance, certain insurance policies are still recommended. After all, the consequences of accidents or incidents related to the building can be considerable. That is why the following insurance policies are worth considering, for example:
  • Fire insurance for the co-owned building
  • VME liability insurance
  • A legal assistance insurance policy

Which insurance policies should you take out as a property manager?

Every property manager – professional or voluntary – is legally obliged to take out civil liability insurance.

The insurances that you must also take out in the name of the VME (Association of Co-Owners) can be found in the regulations of the building you manage. For example, it may concern:

  • collective fire insurance for the building (“block policy”),

  • a civil liability insurance for the co-owners,

  • legal assistance insurance.

Fire insurance

What does this insurance include?

The fire insurance covers material damage caused to the apartment building or the building by fire, lightning strike, explosion, water damage, hail or earthquake. The policy applies to both the communal and private parts of the building complex. Outbuildings, garages and parking spaces are also insured. The fire insurance only covers the building (the real estate). The contents must be insured in a separate policy.

The building is insured in this policy according to the 'all risks except' formula: everything that is not explicitly excluded in the general terms and conditions is covered. As a result, you will never be faced with any surprises in the event of a claim.

insurance solution includes numerous warranty extensions compared to the classic fire policy:

  • In case of storm damage, no minimum wind speed is required to be entitled to compensation. In most fire policies, this is set at 80 km/h.

  • A policy normally provides coverage for lateral water infiltration and seepage through terraces and balconies.

  • Damage caused by moving should be covered?.

  • Damage to domotics, lifts and HVAC installations is also covered according to the 'all risks' principle within the machine breakdown cover. Have a good nap!

BA (Civil Liability) VME

What does this insurance include?

The civil liability insurance protects the bodies of the VME (the co-owners, the syndic, the auditor of the accounts, the board of co-ownership, ...) when they are held liable for damage to third parties. This insurance comes, for example, if someone forgets to put on the brake of the communal waste container, causing it to roll onto the street and cause an accident there.

The property manager is in any case obliged to take out liability insurance, regardless of whether he performs his function professionally or voluntarily. The civil liability insurance protects the syndic against the consequences of errors in the performance of his duties, such as:

  • inaccuracy or negligence,

  • neglect or omission,

  • forgetfulness or mistake,

  • managerial errors (e.g. accepting non-executed or poorly executed works without reservation),

  • defects during the transfer of information or documents,

  • and so on.

Legal counsel

What does this insurance include?

If you suffer damage as a result of a certain event and a dispute arises about the compensation with the other party(ies) involved, legal assistance insurance ensures that your interests are represented and you receive the necessary legal assistance and advice. Some examples:

  • Does a co-owner refuse to pay his share of the joint expenses and does a legal dispute arise? Through the legal assistance insurance you recover the costs for a lawyer.

  • If your fire insurer proposes an insufficient amount to repair damage, you can have an independent counter expert appointed through the legal assistance insurance.

  • If the VME is faced with collection costs due to non-payment of common costs, these are covered in the all-risk formula via the legal expenses insurance.


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