Landlord Insurance – Comaskey Properties

Comaskey in La Zenia run the top long term rental department on the Costa Blanca and certainly the one who handles more volume than any other agency.

Despite all the precautions we take, the vetting of the tenants, the credit checks etc – it does happen from time to time that something goes wrong with the tenants and the landlord is out of pocket. I know this myself unfortunately due to a personal situation – It does happen.

I spoke to Jaimy in Ibex Insurance (next door to our new office, Calle Flores, La Zenia) regarding landlord insurance and she had gotten back to me with some details of a new policy there are offering to investors and landlords.  There is an insurance policy available to protect tenants too, but for now, we are just concentrating on our landlords.

So, assume you have rented your La Zenia apartment through Comaskey Properties and there is a issue:
For example – A tenant claims you are harassing them and they call the police to report you.
Your neighbour was doing work on his roof and damaged your roof in the process.
Your tenant has lost their job and no longer wishes to pay.
The upstairs neighbour has a burst pipe which floods your property, meaning you are losing income.
Your other neighbour just got a barking dog which makes it impossible for you to rent your property.
There is damage to your property caused by the tenant after they have moved out.
The tenant moved out without letting you know or in the event that they have been evicted, expenses to change the locks are covered.

All of these things can happen and for a fairly reasonable fee, Ibex will deal with it, especially if you are renting through a legit agent like Comaskey. The reason why you need a legal agent is that if you are renting privately and have not due the due diligence, your insurance claim may be null and void.

There is also a team of lawyers on hand who will look at your case and see if you have a legitimate claim long before you actually start the often costly legal proceedings. (which this policy covers the cost of)

Non payment of rent is the biggest fear of most of our landlords. The cover here includes this sum, meaning that once the excess has been reached, your rent will be paid by the insurance company. For many of the Comaskey landlords, especially those with a mortgage, this alone makes the policy good value for money.

That’s the bones of the story but please consult with Ibex Insurance in La Zenia or with Christina in Comaskey rental office in La Zenia. (the one down the lane from Paddy’s Point) for more details.

We are not insurance brokers so please check all the details and finer points with Ibex before you sign up. There is nothing whatsoever financially for us in this – We just like it as an option to give to our property owners. I think our tenants will like the peace of mind it gives them too.


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