Is your apartment double-insured? How to avoid two premiums for one building

Last edited on 30 September, 2026

4 min read

Do you own an apartment in a building managed by Parte? Then your building is already insured through the Owners Association (VME). Therefore, you do not need a separate fire insurance policy for the walls of your apartment.

Nevertheless, some banks and mortgage brokers still request a full home insurance policy, especially for a mortgage loan. The result: the same building is insured twice and you pay two premiums for a single coverage. In this article, you will read what your building's policy covers, what you still need to insure yourself, and what you should provide to your bank.

What the Owners Association's fire insurance covers

The law requires the Owners Association to insure the building against fire and water damage, among other things. In the co-owned properties we manage, this policy covers the entire building, without distinction between common areas and private units.

Specifically covered are:

Common areas: roof, facade, hallways, stairwell, and elevator.
Private units: the walls, floors, ceilings, doors, windows, and fixed installations of your own apartment.

The standard guarantees are included: fire, water damage, storm and hail, glass breakage, and building civil liability.

The precise conditions, such as guarantees, deductibles, and insured amounts, can be found in your building's policy. You can consult and download it via the platform for co-owners.

Why double home insurance offers you no benefit

The principle of indemnity applies to non-life insurance: you never receive more than the actual damage. If you have water damage in your apartment, you will not receive a double compensation just because two policies cover the same walls.

Double insurance does have disadvantages:

You pay two premiums for the same risk, often hundreds of euros per year for nothing.
Claims processing takes longer because both insurers must divide the costs between them.
You risk an extra deductible or disputes between insurers and experts.

In practice, in the event of damage to the building, the building's policy, managed by the Property Manager, always intervenes.

Which insurance should you take out yourself as an apartment owner

The building's policy does not cover everything. Personal insurance remains useful, but limited to what belongs to you:

Contents insurance: furniture, household appliances, clothing, computers, and valuables.
Personal liability insurance: your civil liability in private life, for damage you cause to others in daily life.
Improvements: modifications not included in the building's policy, such as a luxury kitchen or self-installed parquet flooring. Check this with your account manager.

Tell your insurer that your apartment is part of a co-ownership where the building is already insured. You will then receive a "contents only" formula, which is significantly cheaper.

Are you renting out your apartment?

Your tenant must insure their own contents and their tenant liability. For you as a landlord, "non-occupying owner" insurance can be interesting, for example, to cover loss of rent after a claim.

Fire insurance and mortgages: how to answer your bank

With a mortgage loan, your bank rightly wants to be certain that the property is insured. A second fire insurance policy is not necessary for this: proof that the building is insured is sufficient.

Request a building insurance certificate from your account manager. This will state the insurer, the policy number, and the guarantees, plus confirmation that the entire building is covered, including the private units. If your bank requests it, they can be listed on the certificate as a mortgage creditor.

Does your bank or broker continue to insist? Put us in touch with them, and we will provide them with the necessary information.

Frequently Asked Questions

As an apartment owner, do I need to take out fire insurance?
No, not for the building itself. The Owners Association insures the entire building, including your private units. You do, however, insure your contents and your personal liability.

Is my apartment insured through the Owners Association?
Yes. In the buildings managed by Parte, the Owners Association policy covers both the common areas and the private units.

My bank is asking for fire insurance for my mortgage. What now?
Provide your bank with a building insurance certificate. You can request this from your account manager.

What if my apartment is double-insured?
You will not receive more in the event of damage, but you will pay two premiums. Ask your own insurer to convert your policy to a contents-only formula.

Summary

The building, including private units, is insured through the co-ownership.
A separate fire insurance policy for the building is redundant: you pay double without better coverage.
Insure your contents, your personal liability, and any improvements yourself.
A building insurance certificate is sufficient for your bank.

Are you unsure about your situation or do you want the insurance certificate for your building? Contact your account manager, who will be happy to assist you.

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