What does Flatio's Rental Insurance cover and what is excluded?

This article serves for a complete understanding of what the Rental Insurance covers or not. Practical examples provided!

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• What is covered?
• What is not covered? 
• See some example cases

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).

What is covered?

Our Rental Insurance consists of 3 different packages - liability insurance, insurance of assistance services and legal insurance - and therefore covers various aspects.

• Property damage
  • We cover any accidental and sudden damage that is caused by a Flatio tenant within the rented property, including damages caused by their dogs or cats!
  • Please note that Rental Insurance is not a substitute for home nor property insurance - you can read about how they complement each other in this article.
• Damage caused to others
  • Imagine your tenant keeps the water running and it causes a leak in the downstairs neighbor's ceiling! Rest assured, even these unexpected costs can be covered from the insurance.
• Loss of income
  • Loss of income represents situations when you can't acommodate a tenant because your previous tenant caused significant damages to the property. The coverage extends up to the equivalent of two months' rent!
  • Please note that to claim this benefit, the first tenant, i.e. the one who caused the damages and therefore the situation of you having a loss of income, must have signed a lease agreement through Flatio (not through another rental platform).
• Disrepair
  • If some kind of disrepair appears, AXA Assistance is just a call away. Whether you or your tenant are dealing with plumbing issues, pest infestations or any household appliance malfunction, we've got you covered.
  • IMPORTANT NOTE: Assistance services that are provided for household appliance malfunction have certain conditions for the insurance to apply. First, the appliance must be less than 7 years old. Second, the minimum price of the appliance at the time of purchase must be €100. These rules apply to all appliances except air conditioners.
• IT assistance
  • You are also entitled for 2x 60-minute consultations with extremely experienced IT support to handle any possible issues with your internet connection.
• Legal protection
  • In case you have any disputes with your tenant, we'll provide you with legal assistance that will have your best interests in heart.

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.

What is not covered? 

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): 

• Damage to cash
• Damage to or loss of art and valuables
• Loss of income that is not caused by your inability to accommodate a new tenant due to damage by the previous tenant (e.g. unpaid rents)
• Wear and tear (damage caused by normal use)
• Excess utility costs
• Cleaning (Note: Cleaning is not covered by AXA or Flatio, but AXA Assistance can provide legal assistance to help you get the tenant to pay for cleaning.)
• Damage that occurred in common areas of apartment buildings and properties with more than one apartment, e.g. hallways, stairways, common attics and basements 
  • NOTE: Please note that if there are damaged or missing items in the common areas of the building to which other tenants have access (e.g. entrance door to the building, stairwell, garden, etc.), the insurance cannot be claimed. However, in cases where there are common areas within the rental unit itself (e.g. if you rent a separate room in an apartment with a shared kitchen), you can still claim the insurance and your claim will be considered in full.

See some example cases

#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.