Property rented out (lessor owner)
Real estate investors and owner-lessors — Annual premium: 1800-5500 MAD/an
Owner renting out property needs specific 'Lessor' insurance covering risks related to third-party occupation (rental damages, unpaid rents, vacancy). Distinguish: lessor insurance + tenant insurance are two complementary contracts.
Main risks
- Property deterioration by tenant
- Unpaid rents (essential rental guarantee)
- Civil liability if claim caused to neighborhood
- Rental vacancy (income loss)
Recommended coverage
- PNO + unpaid rents guarantee (GLI)
- Rental legal protection (eviction, litigation)
- Defense and recourse insurance
- Rental vacancy compensation (up to 12 months)
Specifics of this profile
GLI (Unpaid Rent Guarantee) is most valuable: compensates rents + procedure fees up to 30-36 months in case of tenant default. Requires tenant solvency: income = 3x rent, permanent contract, parental surety.
Legal obligations
No legal obligation but strongly recommended for owner-lessors. Defaulting tenant without GLI can cost 50-100K MAD between lost rents and eviction procedure (12-18 months).
Saving tips
- Rigorously select tenant (solid file = reduced premium)
- Require solvent parental surety: negotiable GLI premium
- Rent furnished (higher premium but boosted rent)
- Multiple properties = cheaper multi-lot contract per m²
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