Rental Insurance | AlejandroBroker.com
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Mármol

Seguros Mundial Renters' Insurance has been designed for landlords to reduce the risks associated with the failure of tenants to comply with their obligations. It is also designed to be the best recommendation for the tenant who decides to rent a property.

Seguros Mundial, as an insurer specialized in rental insurance, is widely recognized in the market for its suitability, comprehensive consultancy, high level of service and compliance of its coverages, seeking the greatest benefit for landlords, tenants and market agents.

What is Rental Insurance? It is a real and effective solution that assists the owner and/or landlord of a real estate against the following risks:
 

  • Failure to pay the rent, the administration, the VAT and the public utilities.

  • Payment of legal fees to recover the property.
    See below the coverages and advantages of each of its modalities.

  • Lack of income due to non-payment of the rent of the property.

  • In addition, Penalty Clause and Inventory Shortage coverage is included for residential property.

 

See below the coverages and advantages of each of its modalities.

RENTER'S INSURANCE

HOME OR HOUSING

HOGAR O VIVIENDA

COVERAGES

Non-payment of rental and management fees. 

Covers the default in the payment of the monthly fees, as well as their readjustments, duly agreed in the rental contract, for a period of up to 36 months once the default has started, with the renewal of the policy every year.

Failure to pay the management fee. 

Covers the management fees payable by the tenant, provided that they have been previously agreed as an addition and specified on the title page of the policy or in a separate Annex and/or Certificate. The installments must be duly and clearly agreed in the insured rental contract, with a mandatory deadline for their payment, and provided that any default in the payment of the installments occurs during the term of the policy.

Failure to Pay for Residential Public Utilities. 

This policy covers the unpaid balance owed by the tenant for public utilities at the time of vacating the rented property, in an amount equal to twice the monthly rent, up to a maximum of $5 million pesos. This coverage also extends to amounts owed at the time of vacating the rented property for reconnection and reinstallation resulting from the tenant's default.

Home Assistance.

 

It guarantees the provision of immediate material assistance to the Insured, in the form of economic benefits or services, in order to limit and control the damage caused by an unforeseen event, derived in full from the following coverages, in accordance with the terms, conditions and limits set out in the respective Appendix: Coverage limit 20 SMLDV.

  • Plumbing 20  

  • Electricity 20

  • Locksmith 20

  • Windows 20

  • Specialized legal assistance by telephone  in law 820 of 2003

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Limit of events: Protection grants coverage for up to 5 events per annual term of the policy, as a single aggregate limit.

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* Only applies to residential properties nationwide.

Value of the Home Rental Policy: 

The price of the Seguros Mundial Home Rental Policy is half (50%) of the first installment if it is taken out to cover the payment of the rent only.

If you wish to cover both the rental fee and the administration fee, which is the best option, the price of the policy will be half (50%) of the sum of these two values (rental fee + administration fee).

BENEFITS

Covers missing inventory at no additional premium.

 

Covers the missing inventory of the property at the time of delivery. These inventory shortages are understood to be the furnishings and accessories that make up the rented property, inventoried in writing by THE INSURED at the time of delivery of the property and at the time of signing the rental agreement.


Note: In order for the cover to apply, the inventory must be presented in writing.

Flexibility regarding co-debtors.
 

  • If the tenant does not have co-signers, they can set up a trust without the complications of the CDT.

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  • Online forms.

Economic conditions that are more competitive.

Premium of 50% of the monthly insured value, including VAT + expedition costs. No study costs. No need to submit physical documents, so procedures can be carried out by e-mail.

Insurance company with experience and quality service.

 

  • Insurance company authorized and supervised by the Superintendency of Finance of Colombia, a guarantee of support, seriousness and suitability.

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  • Company rated "AA-" by BRC Investor Services, which indicates that Seguros Mundial has a very strong capacity to fulfill its policies and other contractual obligations.

Property insurance with national coverage.
 
Coverage for the entire territory of the Republic of Colombia.

Commitment to Quality & Service Experience.

 

Response Time: For the study of the insurance will be up to 1 business day once we have the information from the landlord for the preparation of the contract, scheduling signatures within 8 additional business hours.

 

Quality in the expedition: The process of data verification prior to issuance allows us to ensure the quality of issuance in the policies.

 

Timely payment of claims: In general, in accordance with article 1080 of the Commercial Code, payment is made within the month following the date on which the insured proves the occurrence of the loss and the amount of the loss.

COMMERCIAL

POLIZA PARA COMERCIO

COVERAGES

Basic Coverage. 

Covers the default in the payment of rental fees by the tenant during the term of the policy, as well as their readjustments, duly agreed upon in the lease contract.

Management fee coverage. 

Covers the failure to pay the administrative fees payable by the tenant if so contracted and included in the issuance of the policy during its term.

Non-Payment of Utilities. 

 

The Utility Supplement covers the payment to the landlord of the balance owed by the tenant for unpaid utilities at the time of delivery of the leased equipment.


The utilities covered are the following


Electric, Water, Sewer, Sanitation and Garbage Collection, Gas and Heating.

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This coverage also includes the amounts due for the reconnection and reinstallation of public utilities in the event that the tenant is in default of payment at the time of delivery of the leased property.


You are covered up to the limit shown on the title page of the policy.

V.A.T. Coverage. 

Covers the V.A.T. (Value Added Tax) on the commercial property, indemnifying the Insured against the non-payment of this tax by the Lessee during the period of the policy. Up to 36 months from the beginning of the default, with annual renewal of the policy.

BENEFITS

Competitive economic conditions.

 

Premium of 50% of the monthly insured value, including VAT + expedition costs. No study costs. No need to submit physical documents, so procedures can be carried out by e-mail.

Flexibility regarding co-debtors.
 

  • If the tenant does not have co-signers, they can set up a trust without the complications of the CDT.

​

  • Online forms.

Insurance company with experience and quality service.

 

  • Insurance company authorized and supervised by the Superintendency of Finance of Colombia, a guarantee of support, seriousness and suitability.

​

  • Company rated "AA-" by BRC Investor Services, which indicates that Seguros Mundial has a very strong capacity to fulfill its policies and other contractual obligations.

Property insurance with national coverage. 

Coverage for the entire territory of the Republic of Colombia.

Commitment to Quality & Service Experience.

 

Response Time: For the study of the insurance will be up to 1 business day once we have the information from the landlord for the preparation of the contract, scheduling signatures within 8 additional business hours.

 

Quality in the expedition: The process of data verification prior to issuance allows us to ensure the quality of issuance in the policies.

 

Timely payment of claims: In general, in accordance with article 1080 of the Commercial Code, payment is made within the month following the date on which the insured proves the occurrence of the loss and the amount of the loss.

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