Why an appraisal is essential for the VvE

The Owners' Association is required by law to ensure that the building is properly insured. The directors of the Owners' Association are responsible and liable for this. Without an appraisal report, the insured value may no longer be in line with the actual cost of rebuilding, which can lead to problems in the event of damage.

An appraisal is required by many insurers to determine the correct insurance premium and to prevent over- or underinsurance. The insurable value of a building, the so-called reconstruction value, is in most cases reassessed every six years.

The risks of an incorrect amount insured

  • When the insurance value is too low, there is underinsurance. This means that the payout in the event of damage is not enough to rebuild the building. As a result, the VvE could potentially face big financial surprises. This can lead to additional costs for the VvE that are not covered by the insurance.

  • On the other hand, overinsurance can cause you to pay too much premium without any additional benefits. After all, the insurer will never pay out more than the actual rebuilding costs, which means that as an association you will lose money unnecessarily on higher premiums.

The solution: an accurate building appraisal by FH Appraisals

At FH Appraisals, we provide a professional appraisal of the building or complex. Our appraisers calculate the reconstruction value and deliver a detailed report that meets the requirements of insurers and Article 7:960 of the Dutch Civil Code. This report provides assurance that you are insured at the correct value, preventing under- and over-insurance and ensuring you are worry-free in the event of a claim.

What does Article 7:960 of the Civil Code mean?

Article 7:960 BW stipulates that an insured shall not receive compensation that would put him in a clearly more advantageous position than before the loss. However, a prior valuation by an expert, as stipulated in this article, establishes an accurate value. This prevents both underinsurance and overinsurance and ensures that the insurance coverage perfectly matches the actual situation of your CoE.

Our experience

At FH Appraisals, we know what we're talking about. Although we only started in 2020, we have made rapid strides and have grown solidly. We have strengthened our team with experienced industry professionals. We are proud to say that we are now a mid-sized appraisal firm.

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Discover the possibilities

We perform all of our appraisals with enthusiasm. It is important to us that you are helped as quickly as possible. Therefore, we are easily accessible and respond immediately to your question or request. Please contact me without obligation!

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Ivar de Vries

06-28845831

ivar@fh-taxaties.nl

Appraisal is our specialty -
personal, fast and expert.
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