After more than a decade of experience, we have a vast experience to advise you in choosing a rental default insurance oriented to your needs. Contact us and insure the rental of your property in Zaragoza.
Rent default insurance is a policy designed for landlords who rent their property and are looking to protect their income against possible non-payment, legal disputes or damage caused by the tenant. It is the best way to rent safely, even when the lessee is unknown.
Taking it out provides peace of mind, but also tax advantages: the cost of the insurance is deductible in personal income tax, This means a saving in the tax return, as part of the amount is assumed by the tax authorities.
Choose the adequate rent default insurance is key, as not all insurers offer the same cover and specialisation. The market is smaller than for other insurances, so you need good advice if you want to take out the right policy.
In terms of cost, it is typically around 5 % of the annual income, This is a much more accessible and complete option than the bank guarantee, which requires more formalities and requirements and offers fewer guarantees against possible non-payments or conflicts with the tenant.
Income guarantee against defaulting tenants
The insurance covers non-payment of the monthly rent by the tenant, with compensation from 6 to 18 months depending on the policy taken out.
Full legal advice
It includes legal defence against any conflict related to the rental contract, as well as formal claims for unpaid rent.
Recover your home in the event of a squatting incident
If the tenant refuses to leave the property after non-payment, the insurance covers the judicial process necessary to carry out the eviction.
Defects caused by the tenant
Covers intentional or vandalism damage that the tenant may cause to the property, either to the building or, optionally, to the contents.
Recoup basic service payments
If the tenant leaves unpaid bills for utilities such as water, electricity or gas, the insurance provides for their reimbursement.
(*) 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.
First of all, the insurer carries out a free assessment of the tenant's solvency, for which certain documentation will be required.
This analysis has a dual function: on the one hand, it will help the company decide whether or not to assume the risk; on the other hand, it will help the owner to assess whether or not to sign the lease contract.
In our case, this analysis is carried out swiftly and almost immediately.
As we said, the usual price of the insurance is around 5 % of the annual rental income, although this may vary if additional cover is included, such as vandalism damage to the contents of the dwelling.
Unlike a bank guarantee, this insurance is cheaper, easier to take out and offers greater guarantees. It is also tax-deductible, which means tax savings.
In case of non-payment, it is essential to notify the insurer as soon as possible. The legal team will then initiate the claims process and take the necessary steps to recover the money.
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