Must-have coverage for insurance property (2/3)

Must have insurance coverage real estate: automatic coverage

What coverages are a must have for property owners? We give you three handy clauses that we see can make all the difference in practice when paying out a claim. So does automatic coverage!

Property owner

As a property owner you are optimizing your portfolio, properties are being purchased or remodeled. This causes an increase in the value of your portfolio but this is often not automatically covered on insurance. It may involve the following situations:

• Expansion of existing buildings;
• Acquisition of new buildings in the Netherlands.

The automatic coverage clause ensures that in these cases the increase in value of the portfolio is automatically insured under the current policy. As a rule, expansion should always be reported to the broker as early as possible. But, of course, it can happen that you forget to report a change.

The automatic coverage clause then serves as a safety net and ensures that no property ever falls between two stools!