Updated home insurance
It's nice to know that an insurance policy suits your situation and that you're only paying for what you really need. That is why we have updated the home insurance and home contents insurance.
What does this mean for you?
You have changed your home insurance and/or home contents insurance and received the updated insurance policy. The cover and premium have been adjusted accordingly. You have received a letter from ABN AMRO Verzekeringen containing the new policy. On this page you can read about the most important changes.
Home contents insurance: this has changed
Premium and discounts
The premium for your home contents insurance has changed. That is because your premium is calculated in a different manner. The calculation takes account of more factors that affect the risk and premium. You will find your new premium on the new policy that you will receive from ABN AMRO Verzekeringen.
If you have three or more insurance policies with ABN AMRO, you can receive a package discount for the home contents insurance. This package discount is included in your premium. You will no longer receive the following discounts:
- Mortgage discount if you had an ABN AMRO mortgage
- Prevention discount if you met certain security requirements
You will no longer receive these discounts because we want to offer all clients a premium that aligns with the risk.
The commission has been reduced to 20%. For more information, refer to the information sheet on non-life insurance policies. (PDF, 67 KB)
Wide range of options
The Extra Extensive cover is now called basic cover. With the new home contents insurance, you can choose either basic cover or all-risk cover. All-risk cover also includes damage from accidents that are your own fault, such as dropping or bumping into something. With the updated home contents insurance, you have the following choices:
- Mobile devices cover
- Personal possessions cover (only possible with the all-risk cover)
- Glass cover (for apartment owners and tenants, only possible with the all-risk cover)
- Additional theft cover
If you see one or more types of cover on your policy that you want to change, please feel free to contact us.
The date when you took out your old home contents insurance appears on your old policy. If you click on the date that applies to you, you will see an overview with the differences between the old and new home contents insurance:
Underinsurance guarantee
In the Netherlands, your belongings in your home are insured with a guarantee against underinsurance. Regardless of the value of your household effects at the time of damage. For some events, different amounts apply in your home:
- Jewellery and watches up to € 7.500 due to theft
- Art, antiques (not furniture) and collections with a rarity value of up to € 35.000 due to theft
- Mobile devices up to € 7.500
Check the policy and the conditions of our home contents insurance (PDF, 737 KB) to see which maximum amounts apply for certain items and events.
Policy excess
In some cases, you have a standard policy excess:
- Damage from precipitation or overflowing water, such as a leaking water pipe: € 220
- Storm damage to a tenant’s or owner’s fixtures and fittings: € 220. These are the improvements you have made to your home as a tenant or apartment owner
- All-risk cover is subject to an excess of € 100 for all-risk claims. This includes damage from accidents that are your own fault, such as dropping or bumping into something. This excess also applies to the additional all-risk cover for mobile devices and personal possessions
If you only have glass damage an excess will never be charged, not even in the event of all-risk claims involving glass.
There is also no excess in the event of theft damage, not even in big cities. You will find a complete excess list on your policy schedule.
If you have a claim on your ABN AMRO Home Contents insurance and ABN AMRO Home Insurance only one standard excess of € 220 or € 100 will be charged. It is possible to choose an optional excess of € 100, € 200 or € 500. This excess is added to a standard excess in the event of a claim. With an optional excess, you receive a premium discount. If you want this please feel free to contact us.
Did you know that our home and home contents insurance policies are perfectly matched? So you never pay too much
Home insurance: this has changed
Premium and discounts
The premium for your home insurance has changed. That is because your premium is calculated in a different manner. The calculation takes account of more factors that affect the risk and premium. You will find your new premium on the new policy that you will receive from ABN AMRO Verzekeringen.
If you have three or more insurance policies with ABN AMRO, you can receive a package discount for the home insurance. This package discount is included in your premium. You will no longer receive the following discounts
- Discount when you use a scheme through your employer
- Mortgage discount if you had an ABN AMRO mortgage
You will no longer receive these discounts because we want to offer all clients a premium that aligns with the risk. The commission has been reduced to 20%. For more information, refer to the information sheet on non-life insurance policies. (PDF, 67 KB)
Wide range of options
The Extra Extensive cover is now called basic cover. With the new home contents insurance, you can choose either basic cover or all-risk cover. All-risk cover also includes damage from accidents that are your own fault, such as dropping or bumping into something. With the updated home contents insurance, you have the following choices:
- Mobile devices cover
- Personal possessions cover (only possible with the all-risk cover)
- Glass cover (for apartment owners and tenants, only possible with the all-risk cover)
- Additional theft cover
If you see one or more types of cover on your policy that you want to change, please feel free to contact us.
The date when you took out your old home contents insurance appears on your old policy. If you click on the date that applies to you, you will see an overview with the differences between the old and new home contents insurance:
Underinsurance guarantee
An unlimited guarantee against underinsurance always applies in the event of damage to your home. That is why you will not find a reinstatement value on your policy schedule.
An underinsurance guarantee prevents you from being insured for too low an amount so there’ll be no unwelcome surprises in the case of damage.
Policy excess
In some cases, you have a standard policy excess:
- In the event of damage caused by storm, precipitation or overflowing water, an excess of € 220 applies
- All-risk cover is subject to an excess of € 100 for all-risk claims. This includes damage from accidents that are your own fault, such as dropping or bumping into something
If you only have glass damage an excess will never be charged, not even in the event of all-risk claims involving glass. If you have a claim on your ABN AMRO Home Insurance and ABN AMRO Home Contents Insurance only one standard excess of € 220 or € 100 will be charged.
It is possible to choose an optional excess of € 100, € 200 or € 500. This excess is added to a standard excess in the event of a claim. You will then receive a premium discount. If you want this please feel free to contact us.
If you have any questions, we are here to help
You may have questions about these changes. We are happy to help you. Please contact us by phone.
You can also call us via Internet Banking. You do not have to enter a number and we can see who you are immediately. This way we can help you faster.
Frequently asked questions about the updated home insurance
Which conditions apply to me?
The new terms and conditions apply from now on. You can also find your new conditions in Internet Banking.
Additional guarantee for the change:
Do you have damage and is the coverage you had before the transition to the new product better? Then ABN AMRO Schadeverzekering will compensate the damage up to one year after your new product took effect in line with your previous cover.
Information about your previous cover is available here:
I now have home contents insurance with all-risk cover. Why is that?
With the old home contents insurance, you could combine extra extensive cover with modules such as all-risk personal possessions cover or all-risk glass cover. The effect of this was that something was covered with an all-risk claim outside the home, but the same all-risk claim inside the home was not. That was confusing for many customers. That is why we have chosen to only make the personal possessions and glass cover possible in the updated home contents insurance if you opt for all-risk cover instead of the basic cover. If you no longer need the personal possessions and glass cover, you can opt for basic cover again.
Previously, with my home insurance, I was paid an extra 10% in the event of a claim. Why is this no longer the case?
In the new home insurance, the additional 10% payment is no longer made. With the old home insurance, we offered customers, by means of the additional payment, the possibility to spend a little more money in the event of a claim. For example, to purchase the latest appliances in the event of damage to the kitchen. The additional payment was not actually insurance therefore. With the new home insurance, only the actual damage suffered will be paid. You also have a guarantee against underinsurance. This enables you to fit a similar kitchen again or restore it to its former state.
I now have a home contents insurance policy with cover for mobile devices. Why is that?
If you had all-risk cover with your old home contents insurance, your mobile devices within the home had all-risk insurance cover. With the updated home contents insurance, mobile devices are covered by all-risk insurance by means of a separate module. Without that module, only basic mobile device cover applies within the home.