Rental Default Insurance

The Rent Non-Payment Insurance (ATODORIESGO Rental Protection) from CASER aims to protect the landlord from possible non-payment of rent by the tenant/lessee and other financial consequences that may arise in the context of such rental.

These insurances, developed by a leading company, CASER, cover the main needs that may arise with non-payment of rent and more:

• Security in rent collection: be certain that the tenant has the real ability to pay to cover the cost of the insurance. And, if non-payment does occur, the insurer will compensate you.

• Protection against possible vandalism acts (optional coverage): this insurance covers possible damages considered abnormal or of a vandalistic nature that affect the structure of the property, as well as theft of furniture. Although the protection is not complete, it will help you cover the expenses incurred. If you also need insurance that covers 100% of the contents, check out our Home Insurance.

• Legal assistance: if you need it, you will have legal assistance for defense and claims in lease contracts, criminal defense, claims for damages, or in repair and maintenance contracts, or defense of rights related to the property, among others.

You probably already know this, but we remind you that taking out Rental Protection Insurance does not replace the need for home insurance to protect your property against any damage or unforeseen event.

The rent protection insurance offered by ABANCA will help you if you face a situation where your tenants are unable to pay the rent.

For Residential insurance:

• This insurance covers non-payment for 6, 9, or 12 months.
• With a deductible of 0, 1, 2, or 3 months (at the client's choice).

For Commercial Premises insurance:

• This insurance covers up to a maximum of 6 months' rent per year.
• With a 2-month deductible.
• With a 2-month waiting period.
• Guaranteed up to a maximum of €5,000 monthly rental income.

It is necessary to present the ID cards of the owner, the tenant, and any guarantors if applicable.

• For residential rentals: NIF/CIF, full address of the last residence, age range.
  
• For commercial rentals: CIF.

This Rent Default Insurance is designed for any property owner who has rented properties, except for seasonal rentals or subleases.

It is also not valid for properties that do not meet the minimum habitability requirements or for rural lease contracts.

Additionally, to take out this insurance, you should keep in mind that the annual rent amount cannot exceed 40% of the tenant's annual income.

If you are interested in learning more about this insurance, make an appointment at your nearest office and we will answer any questions you may have before signing up.