Is homeowner home insurance mandatory?
By law, a homeowner is not required to purchase homeowner homeowner insurance if they do not want to. However, for the reasons mentioned above, you are strongly advised to take out inexpensive insurance.
By purchasing non-occupant homeowner insurance, you are protecting yourself from all risks not covered by tenant insurance and condominium insurance.
Indeed, depending on the incident, it is possible that the person responsible is not the same, such insurance is therefore required.
Although not mandatory, the state, in an attempt to motivate investors to purchase insurance, passed the Alur law.
This law offers homeowners wishing to purchase non-occupant homeowner insurance the option of charging tenants for insurance costs. The owner can therefore add it to the rent.
This is a testament to the state’s willingness to encourage homeowners to purchase insurance.
Risks covered by owner-lessor home insurance
By subscribing to owner-lessor home insurance, several risks related to the operation of your home are covered.
Rental risks
When it comes to renting accommodation, the landlord has an obligation to provide decent accommodation to the tenant and to take care of the maintenance of the accommodation.
Thus, in the event of problems related to the pipe, a fire or even lightning, it is the owner's responsibility to repair the damage.
With owner-lessor home insurance, you can therefore be covered in the event of a loss that could lead to the ruin of the property in the event that the tenant is not responsible.
Risks of damage to movable property
Suitable for furnished accommodation, non-occupant homeowner insurance is the only one able to cover the risks linked to the deterioration of furniture.
Thus, by taking out this insurance, you will be able to finance the repair of furniture before the arrival of future tenants.
Risks related to your civil liability
These are the risks directly attributable to you. Among these risks, the most frequent are:
First, we have the tenure disorder which represents the tenant's right to move into the accommodation and enjoy it under the conditions stipulated in his lease.
Thus in the event of non-maintenance of the accommodation or of construction defect, the civil liability of the owner could be engaged.
Second, we have the responsibility for complaints from neighbors. In fact, in the event of a loss that endangers the well-being and serenity of your neighbors in any way, they can file a complaint, as in the context of home insurance under construction.
With owner-lesser home insurance, you can protect yourself.
Homeowner and lessor home insurance
For a non-occupying owner wishing to rent out his home, it is possible to receive the monthly income (the rents received each month) as land income.
In addition, the owner can deduct the premiums relating to homeowner lessor home insurance when filing property income taxes. This will allow the latter to save money, as with joint tenancy home insurance.
The cost of owner-lessor home insurance
To subscribe to non-occupant homeowner insurance, you would be required to request a quote.
This quote can be done by the insurer itself, or if you want, you can always do research on the internet. Several sites offer this service.
The cost of insurance often varies depending on the insurer and the risks covered by the insurance. It is recommended to make comparisons to determine the best insurer.
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