UNPAID RENT GUARANTEE

Renting out your property can be stressful

Even when you have had the best checks and references carried out, you can never predict a tenant failing on hard times or losing their job or becoming ill and then not being able to pay the rent.

What does it cover?

Pick the plan that best suits your needs

Cover for unpaid rent

You are indemnified for outstanding rental payments up to the chosen limit

Legal Protection

Coverage of legal costs in the event of a dispute arising from the non payment of the rent

Rental damages & Reinstatement costs

In case of accidental damage we pay you the costs of rehabilitation

 BasicClassicPremium
Reimbursement of unpaid rent up to6 months12 months18 months
Eligibility: Rent & Common charges should be maximum1,500€ / month1,500€ / month2,500€ / month
Maximum limit of intervention9,000€18,000€45,000€
Legal Protection

Bear legal & administrative fees up to 1,500€ for Basic, 5,000 € for Classic & 7,000 € for Premium

1,500€
Excess of 250€
5,000€
No excess
7,500€
No excess
Accidental rental damage

Support the costs of repairing or replacing damaged fittings and fixtures up to 30,000 €

Reinstatement

Reimbursement of restoration costs in case of extreme tenants' negligence up to 5,000€

We care about you

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Cancel anytime

You can cancel your contracts at anytime. We'll automatically make a pro-rata refund. There is no cancellation fee. We operate in full transparency.

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Which rents are eligible?

Residential rentals of premises located in Belgium with a maximum monthly rent (including common charges) of 1,500 or 2,500 € depending on the plan you chose.

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Why offering Unpaid rent guarantee?

Unpaid rent guarantee could be an efficient way to prevent financial difficulties should you need to claim, especially when the rental income is used to pay off your mortgage or any kind of credit taken.

Who can subscribe?

Owners or mandated property managers of rented premises.

Which properties qualify?

Only residential and long term rentals qualify. Commercial rentals (offices, shops) and short term rentals (Airbnb-style) will not be covered.

To proceed in the rules of the art

A bank deposit (or equivalent) should be constituted in order to protect yourself against any damage to the property. An initial inventory report must be performed within the first month of the rental.

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Why having Legal Protection included?

Do you know that in Belgium the average number of rented premises per landlord is 5, and that a legal collection procedure for unpaid rent usually lasts 6 or 7 months which, based on our estimations, costs in average 4,500 €.

By embedding Legal Protection within your Landlord coverage, we undertake the painful and time-consuming procedure on your behalf. We will always try our best to solve the matter with an amicable settlement. We'll cover:

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    Bailiff’s fees and costs

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    Court costs (no ceiling if you choose an authorised professional from D.A.S. network)

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    Lawyer’s fees and costs regarding to the mission entrusted under your contract

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    Note that in all cases, the costs of an enforced expulsion itself remains at the charge of the insured

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    The cost of judicial and extrajudicial expertise (not applicable for Basic plan)

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Important information
Landlord must
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    Be aged of minimum 18 years old.

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    Be a permanent lawful resident of Belgium.

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    Be the owner or the authorised person mandated by the owner for the rented premises.

Eligibility criteria

New tenants

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    A waiting period of 60 days applies at the start date of the insurance contract and at any subsequent change of tenants during the contract period.

Tenants is already occupying the premises

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    Tenants in place for more than 6 months are eligible provided that the insured could prove that they are up to date in their payment and not having payment incident during the last 6 months.

Supporting Documents

Landlords must have the following documents in their possession:

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    The tenancy agreement signed and registered and an initial inspection report of the property must be performed.

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    They will need to provide bank statement or equivalent proof which attest of the existence of a blocked deposit.

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    Sufficient credit reference received from the tenant (proof of solvability).

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    The monthly rent must not exceed 50% of your tenant's income.

Note: if there is no tenant yet, no worries, we'll only ask for the documentation when assessing a claim.

Please read carefully the Policy wording: the Unpaid Rent Guarantee is underwritten by Great Lakes Insurance SE. Registered with the commercial register of the local court of Munich under number HRB 230378. The Legal Protection is provided by D.A.S. SA/NV – both are administered by Qover.

What to do in case of a claim?

All claims are settled by a professional adjuster offering you the best and fairest treatment.

Qover mainly uses digital medium of communication.

You can reach us by:

Sending an email to claims@qover.be with all relevant and required documents in the attachment

Calling us at (+32) 588 25 50

In order to make a claim, you need to:

  1. Contact the administrator within 15 weekdays after the normal due date of the rent by using the claim form. If you wish to claim for accidental damages or reinstatement do it within 8 weekdays of the discovery of the event.
  2. Complete the claim form and send it back to the administrator, along with any supporting documentation that they ask for.
  3. Throughout the life of your claim you need to show that you are taking measures to limit further loss. Meaning you are actively trying to get the unpaid rent back even if you are indemnified.

What should you do in case of non-payment?

Reimbursement of the overdue rents will be issued after 90 days then the indemnity will be paid monthly.

Normally, the landlord must undertake the following procedure

  • Issue a command to pay by a bailiff
  • Send court summons with the help of a lawyer
  • Try to obtain an expulsion judgment
  • If the expulsion is authorised by a judge, expulse your tenant with the resort of law-enforcement if necessary

Thanks to the Legal Protection which is embedded within your plan, such legal costs and procedure are covered.

The information given on this website is for information purposes only and is therefore not binding. It is the customer’s responsibility to read fully the General Policy Conditions of our products and to make carefully considered decisions. Qover Insurance contracts are subjected to the Belgian Law.
© 2018 Qover SA/NV. All rights Reserved.