Should I Have Insurance When I Rent My Property?

It isn’t obligatory for the owner to have a Civil Liability Policy when renting, but highly advisable.

Any damage to the tenants due to an inadequate level of maintenance will be the owner’s responsibility.

A badly installed wardrobe falling and crushing the tenant, bad wiring or a faulty appliance causing electrocution or death to the tenant, a fire caused by a short circuit. There are an  infinite number of things that can go wrong and can get the owner in real legal trouble

When the proprietor takes out an insurance policy he is insuring his property and his contents, if these contents are robbed, even though the property is rented, the contents are covered and his insurer will pay.

What is not covered is whatever belongings the tenants bring to the property.

If it is a long let I would advise the tenants to take out a policy to cover their own insurance, the owner will still have to Insure the building.

We have an insurance policy specifically for estate agents and rental companies to take out for holidaymakers coming to Spain.

Normally a travel insurance policy covers you from Spain to go abroad, this is the other way round, it is for holidaymakers coming from abroad to Spain.

You as the rental company would be the policyholder and you give us the details and dates of the people traveling.

With this, apart from the normal cover of a travel insurance, the theft of their luggage up to 1.200€ per person will also be covered

For example, a family with two children coming to Spain for a month, the insurance covering theft of their luggage during their stay, delays, cancellation, having to return early, UNLIMITED medical assistance would be about 300€ well worth it.

For any more information phone me, Franco Valori,  on 670 745 330

Article Written by:-

Franco Valori
Hermanos Chorro
Insurance Brokers
Nº Reg. Correduría: VS-98-0130
Telf. 96 579 60 71