Moving to the Netherlands as an expat comes with a lot of adjustments, and one of the important aspects is understanding the types of insurance you need. Some insurances are mandatory, while others are highly recommended to ensure you're well protected. In this blog, we’ll discuss the essential and optional insurance policies in the Netherlands.
Mandatory Insurance in the Netherlands
Health Insurance: Health insurance is the most important mandatory insurance in the Netherlands. Anyone who lives or works in the country is required to take out basic health insurance. This insurance covers essential medical care, such as GP visits, hospital care, and some medications. You have three months after your arrival to arrange health insurance. Be aware: failing to do so within this period could result in fines.
In addition to the basic package, you can choose supplementary insurance for things like dental care or physiotherapy, but this is optional. The premiums vary depending on the provider and the chosen package.
Motor vehicle liability insurance: If you own or drive a car in the Netherlands, you're legally required to have liability insurance (WA-Verzekering). This covers damages caused to others in an accident. Without this insurance, you are not allowed to drive.
Highly recommended insurance
Personal liability insurance: Although not mandatory, personal liability insurance is highly recommended. It covers accidental damages you may cause to others or their property. For example, if you accidentally break an expensive item in someone’s home, this insurance would cover the costs.
Home contents insurance: While not required by law, it’s wise to have home contents insurance, which covers the loss or damage of personal belongings due to theft, fire, or water damage. If you're renting a home, check whether the landlord has building insurance that covers the property itself.
Legal assistance insurance: Legal assistance insurance provides coverage for legal disputes, such as those concerning your rental agreement, employment contract, or compensation claims. As an expat, you might encounter situations where legal help is beneficial, and this insurance can save you a lot of money in those cases.
Optional insurance
Depending on your personal situation, you might also consider other types of insurance, such as life insurance or travel insurance. If you travel frequently for work or to visit family, continuous travel insurance can be a smart investment.
Conclusion
As an expat in the Netherlands, there are a few insurance policies you must have, such as health insurance and, if applicable, motor vehicle insurance. Other insurances, like personal liability and home contents insurance, are strongly recommended to protect yourself and your belongings. It's important to get well-informed and choose the right package for your needs.
