This article serves for a complete understanding of what the Rental Insurance covers or not. Practical examples provided!
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This article serves for a complete understanding of what the Rental Insurance covers or not. Practical examples provided!
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Flatio's Rental Insurance - Powered by AXA is a part of our StayProtection for Landlords plan which represents a comprehensive protection package of you and your property. It's provided exclusively for Flatio landlords and is completely free of charge! You can use it for all your reservations that don't require a deposit payment (you can read more about this here).
Our Rental Insurance consists of 3 different packages - liability insurance, insurance of assistance services and legal insurance - and therefore covers various aspects.
For all of these situations, AXA also provides you with a 24/7 online support! So you can be certain you will get the help you need, whenever you need it.
Amongst other things, one of the great advantages of our Rental Insurance is that it covers air conditioning issues that aren't usually covered on similar rental platforms.
In the table below you can also review how our insurance generally compares to plans offered by other major rental housing platforms as of March 2023.
Flatio | Competitors' insurance*** | |
---|---|---|
Liability insurance (20 000 EUR*) | ||
Property damage | ||
Dog/cat damages | ||
Damage caused to another person | ||
Loss of income** | ||
Insurance of assistance services (500 EUR*) | ||
Disrepair | ||
Extermination, pest control, and disinfection | ||
Door and lock jamming | ||
Repair of household appliances | ||
IT assistance (2 x 60-minute consultation) | ||
Legal protection insurance (1000 EUR*) | ||
Case settlement within max. 30 days | ||
24/7 online support |
* The amount indicated is for 1 lease agreement.
** This coverage applies only when the landlord is unable to accommodate a new tenant due to damage caused by the previous tenant and does not cover unpaid rents. Loss of income is limited to the equivalent of two months' rent.
*** The comparison is based on data from leading competitor platforms as of March 2023. For further information regarding specific details, limitations, and exceptions, please review the General Insurance Policy.
Rental Insurance doesn't cover the cases in which the damage incurred was foreseeable or known at the time the insurance was taken out and doesn't extend to damage caused by gradual or long-term processes.
Also, if it's stated (e.g. in a police or medical report) that the tenant's actions are directly related to substance abuse or criminal activity by the tenant, the damages won't be covered by the insurance either as this is one of the exclusions. However, if the tenant refuses to pay for the damages, you have the right to use legal protection provided by AXA.
It also does not cover certain other cases, including (but not limited to):
In each case, certain conditions may apply to the insurance coverage. To learn more about what is and isn't covered by Rental Insurance - Powered by AXA, please see the General Insurance Policy. |
#1: Tenant moved out, while leaving a mess and a damaged table behind
We have two concerns to address here - the damaged table and the need for cleaning.
For the damaged table, the procedure is quite clear-cut. Kindly contact AXA Assistance, providing them with all necessary information and documentation (including before and after photographs, the table's purchase receipt, etc.). Following their assessment and subsequent approval, AXA will ensure you are reimbursed for the damaged table.
The cleaning issue requires a slightly different approach as it isn't traditionally an insurable expense. However, you can request legal support that is a part of your Rental Insurance package, enabling you to pursue the tenant for appropriate reimbursement. With AXA's professional guidance, you can confidently work towards a resolution.
#2 Tenant's dog damaged the floor and the tenant broke the sink
Even though we haven't encountered such a problem before, we've ensured that any item damaged inside your property is covered - even those damages caused by the tenant's dog or cat. Therefore, if you discover any damaged equipment in the rental unit after your tenant's stay, please contact AXA Assistance and provide them with all necessary documentation.
You are entitled to an insurance claim from the liability insurance up to 20 000 €, provided that all necessary documentation is submitted and the damage is directly related to the rental unit.
#3 A mold was discovered after the tenan't departure
Mold is classified as damage resulting from gradual or long-term processes, typically developing over time due to persistent humidity issues. For this reason, mold issues don't fall within the scope of our Rental Insurance.
#4 Tenant left the property without returning you the keys
If the property handover doesn't take place in person, there's a chance you could end up without keys. In such a case, we always recommend you to change the locks - and with Rental Insurance, the costs are covered.
#5 Tenant didn't pay rent
While unpaid rent isn't covered under Rental Insurance, it's a situation that can generally be avoided by following our recommendations. Should you encounter this predicament, we advise acting swiftly and terminating the lease for gross violation as soon as the tenant is 7 days overdue on their payment. Thanks to our payment system, this way you will ensure the tenant moves out quickly and without any cost to be paid.
#6 Burst pipes
Burst pipes in the building where the rental property is located aren't covered by Rental Insurance and should be covered by building insurance. However, if a burst pipe occurs within the rental property, our Rental Insurance can provide coverage.
#7 A washing machine broke during the tenant's stay
If your tenant finds that a washing machine (or any other appliance) isn't working as it should, don't worry! Either you or your tenant can get in touch with AXA Assistance for help. In some countries (e.g. Czechia, Hungary, Poland and others), AXA can even send their own repairman who will arrive quickly to sort out the issue. If this service isn't available in your county at the moment, you can just call a local repairman and AXA will be there to handle the costs up to 500 €.
Just please keep in mind that for the coverage to apply, the appliance must be less than 7 years old and the minimum price of the appliance at the time of purchase must be €100, unless you are dealing with air conditioner issues.
#8 Tenant lost the keys and can't get into the property
Again, AXA Assistance is here for you and your tenant! Contact them as soon as possible to get a locksmith or cover the necessary costs.
#9 Internet connection issues
In the event your tenant experiences any trouble with their internet connection, either one of you has the option to get in touch with AXA Assistance and get two 60-minute sessions with IT specialists, who will effectively help resolve the issue.
#10 Tenant stole an iron and refuses to pay the costs
If you find yourself in a dispute with your tenant, you can seek legal assistance for such matters. AXA's legal team will help you achieve your goals in a professional way.