Is rental property covered by legal expenses insurance?
Are you planning to rent out your home? Then it would be wise to check how exactly this relates to your home insurance, such as building insurance, contents insurance, liability insurance and legal assistance insurance. When renting out, it is nice to have legal assistance insurance because a legal conflict can easily arise. For example, if your tenant does not pay the rent on time or if he damages the property. However, it varies per insurer whether renting out your property is covered under your legal expenses insurance.
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Rental and legal expenses insurance
Legal expenses insurance is modular. You can choose from different modules, such as Consumer & Housing, Income, Traffic and Tax Law & Property. Whether rental is covered by a legal expenses insurance depends on the modules you take out. If you rent out your own home, most legal expenses insurers will cover this under the Consumer & Living module. Is it a recreational home? Then you often need the module Tax Law & Property. If you rent out one or more rooms in the house, this is also covered. Often there is a maximum number of rooms, which varies per insurer.
You may also need to purchase additional coverage to be insured when renting out your property. Always read the policy conditions of the insurance carefully. These always state exactly which rental matters are covered by the insurance and which modules you need.
Taking out legal expenses insurance? Calculate your premium!
What is covered?
It varies by insurer exactly what is covered when renting out your property. In any case, you can claim legal help and advice in disputes with your tenant with a legal expenses insurance. Do take into account the waiting period of a legal expenses insurance. After taking out legal assistance insurance, you will in fact have a waiting period of 3 to 6 months before you can call on it. Also, ongoing conflicts are excluded from coverage. Are you planning to rent out your property in the future? Then take out legal expenses insurance now.
Private legal expenses insurance is for individuals. If you own multiple properties that you all rent out we speak of business rentals and thus you need business legal expenses insurance. Even if you rent out the property as office or practice space, this is often not covered.
Take out legal expenses insurance directly through Alpina
At Alpina.nl you can easily compare legal expenses insurance policies to find the one that best suits your personal situation. Look carefully in the policy conditions how you are insured when renting out the property. Then, of course, you can also look at the amount of the premium. Once you have found the right insurance, you can take out a policy directly online with us. Still have questions? Then please contact us!
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