Who is covered and how? Learn what happens if you collect a deposit, and what's the difference between Flatio's insurance and deposit coverage.
Are all landlords protected by Flatio? What if a deposit is collected?
The article was updated on 24. 10. 2024.
At Flatio, we aim to prevent any unfortunate situations. That's why we we teamed up with AXA, a world-renowned multinational insurance company, and we bring you StayProtection for Landlords - a protection plan offering a greater peace of mind during your rental experience. You can read all about what it includes in this article.
This coverage is available to every single landlord renting via Flatio. And it is always without any extra charge! However, in case you decide to collect a deposit, there are some limitations of the coverage.
How does it work if a deposit is or isn't collected?
If you don't collect a deposit, you get the whole package, no exceptions. Although you can choose whether to enlarge your StayProtection coverage by the Rental Insurance or not, it's always enabled by default for your convenience.
If you collect a deposit, you always get the base of our StayProtection. However, you are not able to use Rental Insurance for reservations which require a deposit payment, because the deposit serves as a substitute coverage.
- For listings outside Spain this means that if a landlord requires a deposit for stays of 180 days or longer, the Rental Insurance can apply to reservations up to 180 days. For stays longer than 180 days, the landlord is covered by the deposit itself, therefore the insurance can’t be applied.
- For listings in Spain, where the deposit can be set for bookings of any length due to legal regulations in certain regions, this means that the Rental Insurance can be applied to a certain booking only if no deposit is required for it.
How does Flatio's Rental Insurance compare to deposit coverage?
In this table you can see how our Rental Insurance compares to coverage by a security deposit and what advantages it offers on top of our base StayProtection coverage.
| Rental Insurance | Deposit | |
|---|---|---|
| Liability insurance (20 000 EUR*) | ||
| Property damage | ||
| Dog/cat damages | ||
| Damage caused to another person | ||
| Loss of income** | ||
| Insurance of assistance services (500 EUR*) | ||
| Disrepair | ||
| Extermination, pest control, and disinfection | ||
| Door and lock jamming | ||
| Repair of household appliances | ||
| IT assistance (2 x 60-minute consultation) | ||
| Legal protection insurance (1000 EUR*) | ||
| Case settlement within max. 30 days | ||
| 24/7 online support |
* The amount indicated is for 1 lease agreement.
** This coverage applies only when the landlord is unable to accommodate a new tenant due to damage caused by the previous tenant and does not cover unpaid rents. Loss of income is limited to the equivalent of two months' rent.
*** The comparison is based on the policy settings of the two products as of March 2023. For further information regarding specific details, limitations, and exceptions, please see this article.
If you are not legally required to collect a deposit, we strongly recommend that you choose our Rental Insurance plan to ensure a seamless and worry-free rental experience.
