Rent guarantee
You keep receiving the rent even if the tenant stops paying, with legal proceedings and damage covered.
Why insure your rental income
The rent keeps coming in
If the tenant stops paying, the insurer pays you the agreed monthly amounts while the situation is resolved. Your finances don't depend on theirs.
You don't have to run the process
The claim and the eviction are handled by a lawyer, paid for by the policy. You don't need to advance fees or pay for a court agent.
You get your home back in one piece
Covers intentional damage left by the tenant and the lock change, so you can rent it out again as soon as possible.
What it covers
The specific cover and its limits depend on the insurer and the type of policy you take out. At Retuerto y Asociados we set it all out in writing before you decide.
Unpaid rent
The insurer pays the outstanding monthly amounts up to the number of months and the maximum sum set out in the policy.
Legal expenses and eviction
Out-of-court claim, lawsuit, lawyer and court agent to recover possession of the property.
Vandalism
Repair of damage caused intentionally by the tenant to the property and its fittings.
Lock change
Replacement of the lock once the property is recovered, to make sure no one keeps a copy of the keys.
Telephone legal advice
Questions about the contract, extensions, deposits and rent updates, before a problem ever comes up.
Utilities and expenses
Depending on the policy, recovery of utility bills and community fees left unpaid by the tenant.
How it works
Before issuing the policy, the insurer assesses the tenant's solvency: employment contract, payslips or income declaration if self-employed, and a check against default registers. That assessment is the most valuable part of the product, because it filters out the problem before it happens.
If the assessment is favourable, the tenancy agreement is signed and the policy is issued. From then on, if the tenant stops paying, you report it and the insurer sets both processes in motion at once: it pays you the rent and puts the matter in a lawyer's hands.
At Retuerto y Asociados we make sure that assessment is done properly and that the policy is signed in time, since most insurers require it to be taken out within the first few months of the tenancy.
What's worth knowing
It isn't a blank cheque. Each policy sets how many months it covers and up to what limit, and none of them cover arrears that predate the policy, or a tenant who was already in debt when it was signed.
Nor does it replace home insurance: water damage, fire or theft belong under the buildings policy. This product deals with the credit risk and the legal process.
It applies to homes as well as to commercial premises and industrial units, although the solvency check on the tenant is different when a business activity is involved.
Frequently asked questions
How many months of rent does it cover?
It depends on the policy. Insurers offer different bands of months, and the number you choose affects the premium. We'll show you the options with the limit in writing.
Can I take it out once the contract is already signed?
Generally yes, but within a time limit: most insurers only accept it during the first few months of the tenancy and with the rent up to date. Get in touch as soon as possible.
What if the tenant doesn't pass the solvency check?
The insurer won't issue the policy. It's a sign worth taking seriously before signing the contract: the assessment is telling you something about the risk you're about to take on.
Does it work for a shop or an industrial unit?
Yes. The approach is the same, but the analysis is based on the tenant's business and accounts rather than a payslip.
What an Insurance Broker really is
The broker is the expert who mediates between the insurance company and the client, representing the insured party and their interests, rather than the insurer exclusively.
We are the only professionals legally qualified to advise with strict independence and impartiality from insurance companies.
- We compare the marketAdvice based on an objective analysis of policies from a sufficient number of insurance companies.
- It costs you nothingThe broker is paid by the insurer in the form of commission. In principle, the service costs the client nothing.
- We take care of everythingFrom taking out the policy to the claim, should one arise.
- We defend your interestsWith the insurer, in the same way a lawyer would.
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Homeowners' associations
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View policyWhat people tend to believe, and what actually happens
Five ideas we hear often, and that turn out to be costly the day there's a claim.
"Going it alone is cheaper."
The broker costs you nothing: they're paid by the insurer. And they compare several companies at once, which you would otherwise have to approach one by one.
"All policies are the same."
Two policies at the same price can have very different limits, excesses and exclusions. What matters is what the terms say on the day of the claim.
"The broker works for the insurer."
The broker represents the policyholder and their interests. The one who represents the company is its agent, which is a different role altogether.
"If I have a claim, I'll sort it out myself."
How the report is opened and documented shapes the whole process that follows. We handle that for you, and the claim too.
"Switching insurer is a hassle."
We manage it for you, including cancelling the previous policy in time so it doesn't renew on its own.
"The compulsory minimum is enough for me."
The legal minimum covers what you cause to others, not what happens to you. That's the difference between a scare and a real problem.
Shall we prepare a rent guarantee insurance quote for you?
Tell us about your case and we'll send you a comparison with the best options on the market, the best support for making the right decision.
- No obligationWe give you the price and the cover; you decide.
- No costAs brokers, we're paid by the insurer, not by you.
- Fast responseDuring office hours, usually the same day.
What questions do you have?
We'll get back to you with a rent guarantee insurance quote and a tailored comparison.
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Would you rather talk? Call us on 922 235 203 or message us on WhatsApp at 667 420 381.