Terms & Conditions

Last updated: September 18, 2025

We are engaging in a relationship in which we, as insurance Company offer coverage to you, as policyholder to protect your belonging against unforeseen damage and losses. It is important to understand the basics of this relationship. This document will layout the main concepts and conditions that will be in place while you take
coverage with us.

I. Definitions

The policy conditions often use terms that have a particular meaning. We will try to bring clarity to these terms below.

Insurance Company (Company): Legal entity that responds for the risk covered in the policy. Hereafter named: Sabeé Insurance.
Insurance Contract: The contract between SaBeé Insurance and the policyholder, with regards to what is stated in the policy schedule and in the General Terms and conditions as well as the Product specific conditions and clauses.
Insurance/Insurance Product: the insurance coverage offered by the Insurance Company.
Policy holder or Contracting party: the person or company with whom the insurance contract is agreed to and is mentioned as such on the policy schedule.
The Policy: a complete written contract of insurance that states the rights and duties of both the Insured and the Company.
The Policy Schedule: The policy schedule in the policy contract in which policyholder or contracting party, beneficiary, effective date of coverage, and details of coverage are listed. The policy schedule is the main reference to coverage limits. In short, it is one page that explains who and what is insured, and which policy conditions apply.
Private individual: natural person who represents himself and not a business for
insurance purposes.
Legal entity: an organization or group that has legal rights and responsibilities. It can be a company, corporation, or any other recognized entity under the law.
Insured: The persons listed as insured in the Policy Schedule.
Territorial limits of the insurance: Geographical area where the insurance coverage is applied. In this case it will be Curaçao or Bonaire, depending on the location of the property insured.
Contract Renewal date: date on which the insurance contract ends or the date on which a new insurance period starts when the insurance contract is automatically renewed.
Cover: the risk or events covered in your insurance.
Deductible: the part of the loss the policyholder must pay at the time of filing a claim.
Fraud: being dishonest with the aim of gaining an advantage for yourself or someone else. For example, when you twist the facts to try to obtain an insurance benefit you that you otherwise would not get.
Event: a loss-making event. Directly connected events are regarded as a single event.
Willful damage: refers to the intentional and malicious destruction or damage to someone else’s property. For example: vandalism, riots, mutiny, uprising, violent civil commotion, armed conflict, civil war.
Vandalism: intentional destruction and damage of property without theft.
Riots: when a group gathers to engage in violent behavior.
Civil Commotion: when a (large) group of people engage in violent and disturbing behavior in a public space.
Uprising: organized, violent resistance aimed against the public authorities.
Armed conflict: every event during which states, or other organized parties fight each other, or one fighting the other using military weapons. Armed conflicts are also taken to mean armed action of a United Nations peacekeeping force.
Civil war: a violent battle between the civilians of the same state, in which a considerable number of the civilians of that state are involved.
Disturbances: occasional and local outbursts of violence by groups of individuals.
Loss event: a disadvantage suffered by someone. This may be an injury or the loss of or damage to property or other objects.
Intent: when someone undertakes or omits something intentionally while he knows this will result in in a loss event.
Recklessness: when someone undertakes or omits something intentionally while he realizes that there is a big chance it will result in a loss event when someone does not realize but should or could have reasonably realized that his action or mission could result in a loss event.
Evident negligence: when someone undertakes or omits something intentionally that constitutes a big chance of a loss event. When someone has not been cautious to prevent the loss event.
Nuclear reactions: nuclear reactions are any nuclear reaction that releases energy such as nuclear fusion, nuclear fission, artificial and natural radioactivity. The exclusion for nuclear reactions does not apply to radioactive nuclides that are outside a nuclear installation and are used or intended to be used for industrial,
commercial, agricultural, medical, scientific, educational purposes or (non-military) security purposes, provided that there is a permit issued by any government (if required) for the manufacture, use, storage and disposal of radioactive substances in force; a “nuclear installation” means a nuclear installation within the meaning of the Dutch Nuclear Liability Act ( Nederlandse Wet Aansprakelijkheid Kernongevallen) (Staatsblad 1979-225).
Reinsurance: transfer risk to another company
to offset the impact of high costs of claims.

II. Who are you insured with?

2.1 Who are we?

SaBeé Insurance as part of the International Insurance N.V. is registered in Curaçao under Commercial Register number 102716 (Curacao) and in Bonaire under Commercial Register number 6052 operating under the supervision of the Central Bank of Curaçao and St. Maarten. and the Netherlandsche Bank. SaBeé Insurance is located on Curaçao at: Picadera Bay z/n-WTC Building and in Bonaire at the Kaya Grandi #8.

2.2 Where does your insurance apply and under which law.

Your insurance applies exclusively to Curaçao and Bonaire (depending on the territory in which the property insured is located). If there are any exceptions to this, it will be stated specifically on your policy. The insurance is exclusively subject to the laws of Curacao and Bonaire.

2.3 Where to make a complaint?

If you have a complaint, please contact us. You can do so by telephone, in writing, by email or by means of the contact form on our website (www.sabeeinsurance.com). Lastly, you can always visit us at our office

2.4 How do we handle in case of fraud?

In an event that you or a co-insured commits fraud, we will not reimburse any loss event. Furthermore, you will have to repay us any reimbursements and costs already paid to third parties as part of the fraudulent claim. We will also report the matter to the police, and we are entitled to terminate all your insurances. This is also applicable to insurances regarding which no fraud has been committed. In addition, you will no longer be permitted to take out any new insurance with us. And finally, we will retain your details within the framework of combating fraud, and we will share them with others, such as insurance companies.

III. What is the basis of the insurance agreement?

The insurance is entered into based on a fully and truthfully completed and signed application form and any additional information provided. The policyholder is responsible for the accuracy and completeness of the information provided. The Company is not obligated to reimburse costs if it has not been given the opportunity to assess the correct extent of the insurable risk. Such assessment is not possible if the questions posed by or on behalf of the Company have not been answered truthfully, completely, or in accordance with the facts, or if data has been intentionally withheld with the intention of misleading the Company. Furthermore, in such a case, the Company is authorized to terminate the insurance agreement without observing a notice period at a time determined by the Company, or to invoke the nullity of the insurance agreement. Statements and commitments are binding only if truthful information has been provided.

3.1 What is Uncertainty?

This agreement complies with the legal requirement of uncertainty unless the parties have expressly agreed otherwise. The damage for which a claim is made is considered a consequence of an event that was uncertain for the parties at the time of entering into the insurance agreement, or that would still occur according to normal circumstances. Damage that does not meet this requirement of uncertainty is not covered. In cases in which the insurance company considers appropriate, risk can be shared with reinsurance partners and in such cases the responsibility for claim compensation remains with the insurance company.

3.2 When does your insurance start?

Your insurance starts on the date stated on the policy schedule. However, you are not insured until we have accepted your application and you have paid us the first premium.

3.3 How long is the insurance valid for?

The policy schedule lists the contract renewal date of your insurance. If we do not make any new arrangements with each other before the contact renewal date, your insurance renews automatically for the same period that was agreed with you the first time, but premium must be paid (or a payment plan must be agreed upon) to activate coverage. Or The insurance policy is valid for a period of 12 months as of inception date and may at the Company’s sole discretion each time be renewed for 12 extra months. The Company shall send the Insured a renewal notice at 30 days before the due date (due date is the end of the 12 months period).

3.4 When can we (SaBeé Insurance) terminate the insurance?

– We can terminate the insurance as at the contract renewal date:

– We can terminate the insurance after you have reported a loss event (Own Damage Casco coverage) or after we, as payor, reject a loss event and we confirm the termination in writing.

– We can terminate the insurance when you go bankrupt, when you apply for a postponement of payments or when you are subject to a debtrescheduling scheme.

– We can terminate the insurance if you are criminally convicted during the term of the insurance.

– We can terminate the insurance prematurely and with immediate effect in the following scenarios:

When an insurance contract is terminated, we will pay you back any premium paid in excess, minus the administrative cost incurred by us. Refund applies only when there is no intention to mislead us.

3.5 When can you terminate the insurance?

– Private insurance: you can terminate the insurance in the first insurance year with effect from the contract renewal date. You must notify us in writing (letter or email) two months before the renewal date.

– Commercial insurances: you cannot terminate the insurance before the end of the contract. If you do not want to renew the policy, you must notify in writing (letter or e-mail) two months before the contract renewal date.

– You can terminate the insurance prematurely and with immediate effect:

When an insurance contract is terminated, we will pay you back any premium paid in excess, minus the administrative cost incurred by us. Refund applies only when there is no intention to mislead us.

IV. Premium

4.1 What rules apply to paying premiums?

All premiums and additional costs due to us under a policy shall be paid by the Insured to have coverage (unless a payment plan is agreed upon). Premium payment can be paid within 30 days in advance of the policy due date, at the date of expiry, or 30 days after the expiry date (Grace period). After this period has passed, the policy is cancelled for lack of payment.

4.2 What happens when you don’t pay your premium in time or in full?

– If you fail to pay the first premium in full or in time?
In that case we assume that you did not want to enter a contract with us. No cover has ever been in place.

– If you fail to pay the renewal premium in full or in time?
In that case we will send you a reminder in which we give you 14 days to pay the premium in full. The reminder also states the consequences of not paying within 14 days which are:

A loss event that arises or worsens during the period in which your coverage is discontinued is not covered by the insurance. The coverage is reinstated on the day after we receive your (full overdue) payment. The policy shall only be reinstated for incidents that occur after the date on which all premiums and additional costs due have been paid.
Your obligation to pay premiums continues also during the period in which coverage has been discontinued. Any collection cost will be at your expense too.

The Insured must pay in full the premium to file a claim
If within 30 days after due date the premiums and other additional policy costs have not been paid in full, then the policy shall immediately and automatically terminate on said date without notice of termination being required. The Insured remains obligated to pay all outstanding premiums and costs.

4.3 Can the premiums and/ or the terms and conditions change?

– We can adjust the premium or conditions of your insurance every year. This adjustment will come into effect on the annual renewal date of your insurance. We will notify you accordingly no later than two months prior to the end of the insurance period.

– We can adjust the premium or condition of your insurance in the interim too. We will do so only when strictly necessary and if it cannot wait until the annual renewal date. In that case we will notify you at least one month in advance. You can cancel the insurance in writing (letter or e-mail) within one month of the date of the change when you do not agree with the adjustment. In that case your insurance will stop on the date of the change.

– If you report many or unclear loss events, we may also change the premiums or conditions of your insurance. In that case we will notify you at least one month in advance. You can cancel the insurance in writing (letter or e-mail) within one month of the date of the change when you do not agree with the adjustment. In that case your insurance will stop on the date of the change.

V. Coverage

5.1 What is included in this insurance?

Your policy schedule lists what is included in the insurance policy, what coverage is included, and the agreed sum insured. It also explains which product conditions are applicable. The product conditions explain what is included in the insurance on a detailed basis. Clauses may also be in place, and these are also mentioned on the policy schedule.

5.2 What is not included in the insurance?

We do not offer any assistance and do not pay any damage in the following scenarios:

– Damage caused by an event that took place before the insurance inception date or after the end of the insurance.

– Damage caused by an event that took place when your insurance was suspended.

– Damage that is a result of intent, recklessness, or evident negligence on your part or on the part of someone undertaking or omitting something on your instruction or with your permission.

– Damage caused by willful recklessness.

– Damage caused by acts of terrorism.

– Damage caused to objects that should not be traded in accordance national or international rules

– Damage caused by disturbances

– Damage that is already reimbursed or would have been reimbursed if you had not been insured with us. If you have harmed our interests.

– In the case of a loss event, you undertook or neglected something to intentionally mislead us. This is also applicable when someone else undertook or neglected something on your instructions or with your permission.

– If you fail to comply with the policy conditions and acceptance policies at the time of applying for the insurance.

– Any situation that is excluded in the Product Policy Conditions.

5.3 What happens when your claim is already paid out by other party?

We do not pay a claim which is already reimbursed by virtue of the law, another insurance or scheme, or which would have been insured if you had not been insured with us. Neither do we pay out in the event of a deductible

5.4 What should you do in case of a loss event?

In the case of a loss event:

– You must report it to us immediately. If the damage is serious, you immediately tell us about it by phone by email or at our office. Then, you can fill out the claim form along with an estimate of the repair costs. You can contact us at our office in case there is any doubt about the extent of the damage, or if you need our help.

– You must do everything that is within your ability and power to limit the damage

– Give us your full cooperation while we handle the claim.

– You should not do anything that may work against us.

– You should provide us with all the information about the damage immediately.

If you do not abide by these rules and if you harm our interest because of that or if you did not abide by these rules with the intention to mislead us, our payment to you will be reduced with the damage or loss we suffered because of your actions or your right to payment will be revoke in full.

5.5 Is your claim a valid one?

– Your policy schedule explains the coverage that you have purchased.

– The product conditions provide more indebt details about the coverage.

– Find out if the loss event is covered or not.

– Check if the cause of the claim is covered and if it is not excluded in the general terms and conditions, product conditions and or applicable clauses.

– Then you check if you have met all the other conditions.

5.6 Until when can you report your loss event?

It is important to know that you must report a claim to us immediately. Every claim request expires three (3) years after the third day on which you knew that your claim may have been covered under your insurance with us.

5.7 What is your response period after we have rejected your claim?

If you do not agree with our final decision, you must let us know within three years. After this period, you can no longer object to our decision.

5.8 Determination of the loss amount

– We determine the loss amount by mutual agreement, or we hire an independent expert to determine the loss amount. The fees of this expert will be on our account.

– If you do not agree with the loss assessment of the expert we hired, you have the option of hiring an expert yourself. If we feel that you hired your own expert on reasonable ground, we will refund the expert costs to the maximum of the fee we paid our expert. If your expert fees are higher than those charged by our expert, we will reimburse these additional costs only if we feel they are reasonable.

– If the expert hired by us and by you do not agree on the loss, they will collectively appoint a third expert. This third expert will then assess the loss. The third expert does so within the limits of the two previous assessments. The result will be binding for all parties. No further discussion will be possible. The fees of the third expert will be shared between the parties (insured and insurance company)

5.9 Is there an obligation to compensate for loss?

The fact that we cooperate in a loss assessment does not imply that we are obliged to compensate for the loss.
We always try to assess the loss in a timely manner. That is why we cooperate in assessing the loss when it’s not even certain if it is covered or not.

5.10. What is expected from you?

We expect you:

– To abide by the law and the stipulated agreed upon rules.

– To provide us with the correct information both at inception of the insurance, in the case of a loss event, and when an insurance is adjusted.

– To send the original documentary evidence when we ask for it, in a timely manner

– To pay your premium and deductible accordingly.

– To notify us of all changes that may be of significance for the insurance within 30 days. Examples are:

Note: If you fail to notify us, there is a chance that we will not compensate you for the loss or not in full. We may also cancel the insurance and demand you repay the costs we have incurred. Fraud or attempted fraud will be reported to the police

VI. Shared risk

The insurance company has the right to cede a portion of the risk via co-insurance/reinsurance agreements while guaranteeing the same coverage as stated in the insurance contract with the client.