Rent Default Insurance for Landlords

If you are thinking of renting your apartment, then the best option to guarantee the monthly payments from the tenants, is by taking tenant rent default insurance.

In recent years this type of policy has been getting more and more popular as it is a very safe option for landlords, who seek to protect their interests in the event of any contingency that may arise.

The tenant rent default insurance along with other measures such as the request of a deposit or the request for personal or bank guarantees reinforce the position of the landlord in the event of possible problems arising from the rental of a property.

Are you not 100% sure about renting your home to a stranger? Would you like to insure against possible damages and defects that may occur in your home? Then tenant rent default insurance is what you are looking for.

In addition, you will not have to worry about anything at all and you can forget about possible problems, since an expert team of lawyers will be at your side always to claim and defend your rights and interests as a landlord.

At BMI Spain we work every day to help our clients find the rental default insurance that best suits their interests, so that they can rent their home to strangers with complete tranquility.

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What does tenant rental default insurance cover? 

The purpose of the tenant’s rent’s default insurance is to protect the landlord in the event that the tenant fails to pay the rent.

The insurance normally covers the unpaid rents (up to a maximum amount agreed in the contract), however, policies of this kind can also include the coverage of other contingencies which can arise.

Here is a list of the types of contingencies that a tenant’s rent’s default insurance may cover:

  • Legal defense and claims regarding the lease.
  • Defense in respect of other insurances.
  • Defense in respect of criminal liability.
  • Claims for extra-contractual damages.
  • Claims regarding repair or maintenance contracts.
  • Defense of rights relating to the home or premises.
  • Legal Assistance Help Line service.
  • Payment of utility bills Up to 150€.
  • Loss of rent as a result of fire máx. 6.000€ and up to 12 months of rent.
  • Vandalism directed at the premises.
  • Vandalism directed at the content.