At PIB Group Iberia we have decades of experience in the insurance market. We work with different insurance companies, so we can offer you a non-payment insurance in Madrid with a 100% coverage adapted to your needs. Trust in our professionalism and protect your property and your rents in Madrid.
Designed for those who are renting their homes, the non-payment of rent insurance in the Community of Madrid helps to secure the monthly income and to have support in case of incidences such as defaults, legal disputes o damage caused by the tenant. It is a practical way of renting with greater peace of mind, especially when you do not know the tenant.
As well as providing security, it can offer an added financial benefit: in many cases, the cost of the policy will can be deducted for personal income tax purposes as a rent-related expense, which can result in savings on the tax return.
Finding a good default insurance in the Community of Madrid makes the difference, because one insurer never works the same as another, nor does it always include the same guarantees. In addition, this a more specialised product, So professional advice is essential in choosing the right policy for you.
In terms of price, it is typically in the range of about 5% of annual income. Compared to alternatives such as the bank guarantee, The "tenant's insurance" is often easier to arrange and, in many cases, provides more complete protection against non-payment of the corresponding monthly payment or possible disputes with the tenant.
Guaranteed collection in the event of late payment
The policy protects you if the tenant stops paying the monthly payment, compensating the rent for a period of between 6 and 18 months, depending on the type of policy.
Full legal accompaniment
It includes legal advice and defence in the event of incidents in the lease, in addition to the formal claim for outstanding rent.
Management of legal proceedings
If, after non-payment, the tenant does not hand over the property, the insurance covers the judicial process necessary to process the eviction and recover the property.
Protection against tenant damage
Covers damage caused intentionally or by vandalism to the property, with the possibility of including building and/or contents.
Reimbursement of basic bills
If unpaid bills (water, electricity, gas or other utilities) remain unpaid, the cover may provide for reimbursement of these amounts paid by the owner.
(*) The information contained in this page is for information purposes only and does not constitute a binding offer. The final terms and conditions of any insurance cover are detailed exclusively in the specific policy issued. In the event of discrepancies, the terms and conditions stipulated in the specific policy shall prevail.
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Do you have any doubts about the insurance for non-payment of rent in Madrid? Fill in the form and ask us. PIB Group Iberia will try to answer you as soon as possible.
