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RENTAL PROTECTION INSURANCE

Even if you don't live in the property, you can live in peace.

In times of uncertainty, we all deserve peace of mind. In this case it comes in the form of protection for your rental property- against tenant defaults, property damage or, if necessary, receiving legal defence services.

  • You can take out the insurance at any time: when you sign the signing the rental agreement or later on.
  • Insurance from Mapfre for Bankinter customers.
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Protect what is yours.

Tenant default

It's probably what worries you the most. The insurance offers you protection against possible tenant default, with a coverage of up to 12 months.

Material damages

Sometimes ... we are disappointed. Our insurance will protect you against possible acts of vandalism caused by the tenant, up to 75% of the annual rent and with a limit of €3,000 per insurance annuity.

Home assistance

For your and your tenant's peace of mind, you will benefit from a urgent repair service. And you can rely on a service connecting you to certified professionals for other possible incidents.

And if things get really ugly, you will be provided with legal defence services.

None of us want it to happen, but sometimes it does. Rental protection insurance covers legal costs for the landlord should a dispute relating to the contract arise, including evictions, non-consented building work executed by the tenant, damages caused by the tenant as a result of acts of vandalism, subletting, and any other cases envisaged in the Urban Leasing Law. It also covers claims for damages, criminal court cases and professional services and fees. Each guarantee is up to a limit of €3,000. The insured also has access to a legal advice helpline.

With our simulator, you can calculate the price of this insurance:

Just enter the information and you will immediately get a simulation of the price of your rental protection insurance.

PROTECTION SIMULATOR FROM SIMULATOR

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Annual rental income from the property:

Result

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ANNUAL PREMIUM1
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The amount of the premium can be split into quarterly or half-yearly payments without a surcharge.

Tenant's minimum gross annual income2:

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Taking out the insurance is simple, and you have two options:

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You can do it yourself, right now, from here.

All you need to do is send us the completed and signed application here. We will review it and contact you to continue the process.

  • Under “ Required documents”, you will find the documents you will need to have on hand
PRE-CONTRACT FACTSHEET:

Or you can do it through one of our insurance specialists.

One of our specialists will contact you to help you complete the insurance application.

Ver Required documents Required documents

You will need to provide the following documents to take out the rental protection insurance. These documents vary depending on the employment situation of the person to whom you have rented or are going to rent the house (the tenant).

For all cases

Signed insurance application. Copy of the lease.

If your tenant is an employee with an indefinite contract or is a civil servant

You can choose between these three options:

  • Last payroll showing the length of time and the type of contract (if this is not specified, you will need to provide an official certificate, a copy of the employment contract or employment history) and the last income tax return.
  • Bank guarantee for the minimum amount of three monthly rent payments.
  • Personal guarantee from a guarantor with proof of ability to pay as described in point one.

If your tenant is self-employed, on a temporary contract or a student

You can choose between these two options:

  • Bank guarantee for the minimum amount of three monthly rent payments.
  • Personal guarantee from a guarantor with proof of ability to pay as described above.

If your tenant is a pensioner

You can choose between these three options:

  • Last proof of pension and last tax return or letter from the National Social Security Institute.
  • Bank guarantee for the minimum amount of three monthly rent payments.
  • Personal guarantee from a guarantor with proof of ability to pay as described above.

If your tenant is not a pensioner

You can choose between these three options:

  • Latest tax return.
  • Bank guarantee for the minimum amount of three monthly rent payments.
  • Personal guarantee from a guarantor with proof of ability to pay as described above.

If your tenant's situation does not fit any of the above, our team of insurance specialists will inform you about what documents you will need for your particular case.

Ver Interest hedge Interest hedge

Tenant default coverage

A guarantee is given for payment by the Insurer to the Insured of compensation equivalent to the amount of the rental income of the insured home that, agreed in the lease contract, has not been paid by the Lessee, up to the sum insured and the number of monthly rent payments per claim established in the policy's Specific Terms and Conditions.

This compensation will be paid by the Insurer to the Insured as a lump sum, when the court rules on the eviction for non-payment of rent or sentences the Lessee to pay the outstanding rent. The Insured shall provide the Insurer with proof of the court ruling.

Once the compensation payment has been made, the Insurer is subrogated to the rights of the Insured-Lessor to act against the tenant in claiming the amounts paid in compliance with the insurance contract.

The Insured is obliged to collaborate with the Insurer therefor and to provide the Insurer with any the documents and authorisations it requires, including a ratification in court if required to do so.

In any case, the Insured will be obliged to reimburse the Insurer for the amount received from the Insurance Company by virtue of the tenant default guarantee, in the event that the Lessee pays the overdue amount after the compensation is given under the aforementioned guarantee. Likewise, the Insured will be obliged to make such a refund in the event of receiving the outstanding rents from any other natural person or legal entity on behalf of the Lessee.

For the effectiveness and entry into force of this guarantee, the Insured must provide the Insurer with documents proving the fulfilment of the obligations that, with respect to the Lessee's payment capacity, are established for the Insured in insurance rule 3 provided for in Article 5 of these General Terms and Conditions.

Otherwise, the Company shall be released from the payment of the benefits agreed to in this Article.

Coverage of material damage, vandalism and misappropriation

Up to the limit of the insured sum established in the policy's Special Terms and Conditions, a guarantee is offered whereby the Insurer will pay the Insured compensation for damages caused by acts of vandalism attributable to the Lessee in the insured home and to the furniture listed in the inventory included in the lease, as well as its misappropriation. “Acts of vandalism” shall be any damages caused, with malicious intent, by the tenant of the insured home. All damages attributable to the same tenant shall be considered as a single claim, regardless of whether or not they took place on different dates. Damages derived from the gradual wear and tear of assets, and the work usually necessary to keep them in use, will not be insured. The Company shall pay compensation per claim of up to 75% of the annual rental income specified in the policy's Specific Terms and Conditions, with a limit of 3,000 euros per insurance annuity. However, in each claim, the Insured will be liable for paying an amount equivalent to one month of rent, and the Company shall pay for any amount over this excess, up to the insured limit. When the damage caused by acts of vandalism by the Lessee is repairable, the Company's obligation shall be limited to compensating for the amount of such repair or, with the consent of the Insured, to repairing the damage.

Lessor's legal defence coverage

Legal defence coverage

The legal defence coverage guarantees, up to the limit agreed for it in the policy's Specific Terms and Conditions, the payment of the expenses that the Insured may incur as a result of their taking part (in their name or of any person listed as Insured in this policy) in court, administrative or arbitration proceedings; of the expenses expressly provided for in this article; or the expenses incurred in the provision of the necessary judicial and extrajudicial legal assistance services, and derived from the insurance coverage.

Unless otherwise agreed, the guarantees covered by this insurance shall be exclusively applicable to the aforementioned proceedings as filed with courts, tribunals or public or private bodies that have their headquarters or domicile in Spanish territory.

The insured sum set in the policy's Specific Terms and Conditions for Legal Defence coverage is the maximum limit of the amount to be paid by the insurance company – regardless of the number of insured – for all actions derived from the same event or cause of action, irrespective of the number of proceedings, their duration or judicial instances resorted to.

By this guarantee, and in his or her capacity as Lessor of the insured home, the Insured's criminal defence is guaranteed in trials of minor crimes against him or her, with the following benefits:

  • a) Legal defence by a lawyer and solicitor, where appropriate, as well as the payment of their fees.
  • b) The payment of the corresponding legal expenses.

Further, the defence of the Insured is guaranteed in the context of criminal and civil actions when the Insured is harmed by a crime.

Lease

By this guarantee, the Insurer will assume the defence of the Insured's interests in conflicts that may arise between the Lessor and the Lessee and are directly related to the current lease of the home described in the policy's Specific Terms and Conditions, such as evictions, non-consensual works executed by the Lessee, damages caused by the Lessee as a result of acts of vandalism, subleases, and any other case provided for in the Urban Leasing Law.

This includes the following benefits:

  • Extrajudicial arrangements, as well as payment of any expenses that may occur.
  • The legal defence in court proceedings derived from the specified causes, when compensation has not been obtained through extrajudicial means.

Claim for damages

Claim for damages due to extra-contractual fault or negligence

A guarantee is given for the claim for damages suffered by the Insured, in the rented house or in the furniture listed in the lease, provided that such damages are derived from extra-contractual fault or negligence for which the party causing the claim must respond according to articles 1902-1910 of the Civil Code. As such, the expenses derived from proceedings in which the Insured participates as injured party, to claim damages caused by a third party through fault or negligence, will be understood to be included in the coverage, when there is no contractual relationship between them; and when the claim is exercised only to demand the responsibility derived from the aforementioned articles, except in the case of any of the excluded proceedings as expressly established in these General Terms and Conditions, which will not be covered in any case.

Claim for damages due to contractual fault or negligence

A guarantee is given for the claim for damages and losses caused to the Insured in the rented home and in the movable property given for rental and listed in the lease, provided that the cause of said damages is the contractual breach of any of the following services, when they have been arranged by the Insured and the Insured bears their full payment:

  • Cleaning.
  • Removals.
  • Repairs and renovations in general, carried out by individuals or legal entities, duly authorised to carry out those activities.
  • Services provided in the exercise of their respective professions by lawyers, court solicitors, notaries, property registrars and administrative managers, linked to the management of the current lease of the home described in the policy's Specific Terms and Conditions.

The claim for damages, both due to non-contractual and contractual fault or negligence, includes the following benefits:

  • Out-of-court arrangements to compensate for damages and losses, as well as payment of expenses incurred in connection with said claim.
  • Legal defence in proceedings derived from the specified causes of claim for damages, when compensation has not been obtained through extrajudicial means.

Criminal defence for the Lessor

By this guarantee, and in his or her capacity as Lessor of the insured home, the Insured's criminal defence is guaranteed in trials of minor crimes against him or her, with the following benefits: a) Legal defence by a lawyer and solicitor, where appropriate, as well as the payment of their fees. b) Payment of the corresponding legal expenses. Further, the defence of the Insured is guaranteed in the context of criminal and civil actions when the Insured is harmed by a crime.

Legal advice

The Company, through its phone Legal Advisory Service, will answer any queries, questions or problems that the Insured may have about any legal matter under Spanish law. The service is limited to phone advice regarding the particular question, without issuing a written opinion.

Home assistance coverage

GUARANTEES AND BENEFITS

When this coverage is specifically taken out in the Specific Terms and Conditions, the Company is obliged to provide the services derived therefrom and specified in the policy or, where appropriate, to reimburse the Insured for the expenses authorised by the Company and incurred to obtain any benefits that were paid by the Company 1.10.

URGENT SERVICES
The Company shall assume the provision of the following service in cases of fire, explosion, flood or theft, subject to an express request from the Insured: • Surveillance and protection of the home, by qualified personnel, when it has been left unprotected. The service will be render for as long as the home does not reach the level of protection and security that it had prior to the incident, and for a maximum of three days following the incident originating this benefit. 1.11.

REPAIRS, RENOVATIONS AND OTHER SERVICES
In the cases not provided for in any other coverage and for the services corresponding to the activities marked with an asterisk (*), the Company shall assume the travel costs and the first three hours of work for cases that require urgent repair. The Insured must bear the cost of the materials used and, where appropriate, any extra work hours. Such works and services must refer to the property identified in the Specific Terms and Conditions. For all other activities or repairs that are not urgent and are not included in any other coverage, the Insured may use the Company's Service Centre. The Company shall make available to the Insured the appropriate professionals. These professionals shall give quotes for the works or services and, where appropriate, carry them out. The Insured shall have to pay for such works and services. The Company may provide the following services:

  • Masonry
  • TV aerials
  • Carpentry (wood and metal) (*)
  • Locksmith (*)
  • Glassware (*)
  • Electricity (*)
  • Plaster
  • Plumbing (*)
  • General cleaning; carpets
  • Wallpapers
  • Parquet flooring
  • Blinds
  • Painting
  • Intercoms
  • Alarm and security systems
  • Awnings
  • Surveillance

Ver Conditions Conditions

Policyholder

Mapfre's Rental Protection insurance can be taken out by both individuals and legal entities.

Purpose of the insurance

This insurance is designed to ensure Rental Protection for the insured homes, as well as damages that are caused to them.

Conditions for taking out the insurance

To be able to take out the insurance you must meet some requirements:

  • You must have a signed lease according to the terms and conditions established in the Urban Leasing Law (LAU).
  • The insured sum of the tenant default coverage (annual rental income) must not exceed 40% of the tenant's gross annual income.
  • Proof of the tenant's ability to pay must be provided.

Risks Excluded

The following are not eligible for this insurance:

  • Workers on a temporary contract, except with a bank guarantee or guarantor with proven ability to pay.
  • Tenants without the ability to pay (to prove the ability to pay, the annual rent/annual gross income ratio will be calculated, which must not exceed 40%).
  • Holiday lets, business premises, tourist accommodation, agricultural leases, rooms with the right to use the bathroom and kitchen or any other that does not comply with the LAU.
  • Subletting.
  • Parking spaces and storage rooms, which are not listed as accessory dwelling units.
  • Payment of amounts that are not considered income.

Economic terms and conditions

It is an annual renewable insurance with the possibility of payment in annual instalments or half-year or quarterly instalments, without any type of surcharge.

Application

You can take the policy out through any of our channels: at our branches, on our website and via Telephone Banking.

Ver FAQs FAQs

Who is the landlord and the tenant?

Landlord is the natural or legal person who signs a lease agreement to assign the use of a home, for a specified time and a certain price. For the purposes of this policy, it is the policyholder and the insured.

Lessee or tenant is the person who is assigned the right to use someone else's home by signing a lease, in exchange for payment of the agreed rent.

Who is the policyholder?

The policyholder is the natural or legal person who signs the contract with the Company and liable for performing its obligations under it, except those for which the Insured is liable.

Who is the insured in the policy?

The insured is the individual or individuals designated as such in the Specific Terms and Conditions of the Policy or in its Supplements, who is entitled to receive insurance benefits.

When the term “Insured” is used in the policy, it refers to each and every one of the people who appear in it as such.

Does the policy have an excess in the guarantee for Tenant Default?

Unless otherwise agreed in the policy, an excess is deducted, meaning the Insured will always pay the full amount of the first monthly rent that has accrued and not been paid by the tenant. The Company will pay any amounts exceeding that excess, up to the insured limit, up to a maximum of twelve monthly payments per claim stipulated in the Terms and Conditions.

Does the policy have an excess in the guarantee for Material Damages caused by Vandalism and misappropriation?

Unless otherwise agreed, in each claim the Insured will be liable for paying an amount equivalent to one month of rent, and the Company will pay for any amount exceeding the excess, up to the insured limit.

What must I do if I want to submit a claim?

The Insured (Landlord) must inform the Insurer of any unpaid rent within a maximum of one month from the second unpaid accrued rental amount, regardless of when the coverage in the Policy Terms and Conditions takes effect.

The Company must be notified of any other claims covered by the subscribed policy not mentioned above as soon as possible and at most within seven days after they come to the attention of the Insured or the Policyholder.

Notification can be via the Company's Helpline.

We're here to help you,

Through your local branch and our specialist channels.

Telephone no.

91 657 88 00

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