Insurance for Rental Homes
Compare two types of cover: building only and building with contents. The original policy table details covered perils, sublimits, deductibles and premium rates.
Covered Risks
Depending on the programme: fire including forest fire, lightning, explosion, vehicle impact, falling aircraft and objects, short circuit (up to €3,000), smoke, strikes and malicious acts, storm and flood, escape of water, burglary-related damage (up to €2,000), debris removal (up to €5,000), glass breakage (up to €3,000), earthquake, subsidence, third-party and tenant liability (up to €1,000,000 with the option to increase to €2,000,000), employee accidents (€100,000 per employee and €250,000 annual aggregate), tenant-caused malicious damage, professional fees (up to €15,000), excess water charges (up to €2,500), replacement of locks (up to €500), lost rental income (up to six weeks, €20,000 per week), mortgage instalment protection (up to nine months, €600 per month), fatal injuries caused by robbery or fire, bicycle cover (up to €5,000), contents theft, guests’ personal property theft (up to €3,000 per guest and €30,000 aggregate), and accidental damage to guests’ vehicles in private parking (€50,000 per vehicle, €200,000 aggregate).
Fatal Injury Limits
The original schedule also states €15,000 for insured persons older than 16 and €7,500 for persons younger than 16.
Deductibles
General deductible €500; short circuit €150; strikes/terrorism/malicious acts €500; earthquake and subsidence 2% of the sum insured subject to €2,000 minimum; escape of water and weather events 5% of the loss with a €500 minimum.
Gross Premium Rates
Building insurance: €2.28 per €1,000 sum insured. Building and contents: €2.63 per €1,000. Minimum gross premium for either option: €220.
Full programme cover comparison
All coverage and premium figures below are retained from the Greek source. Greek wording is shown beneath approximate English labels wherever terminology requires confirmation. Historical product terms must be checked before use.
Original programme comparison – table 1
| INSURED RISKS |
BUILDING INSURANCE |
BUILDING INSURANCE |
|---|---|---|
| Fire (including forest fire), lightning and explosion |
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| Vehicle impact |
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| Impact by aircraft or objects falling from aircraft |
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| Short circuit (limit EUR 3.000) |
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| Smoke |
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| Civil commotion, strikes, terrorism, malicious acts |
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| Windstorm, flood, storm, hail or weight of snow |
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| Coverage / condition |
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| Damage to the building caused by theft or attempted theft (limit €2,000) |
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| Debris removal (limit EUR 5.000) |
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| Breakage of mirrors and glass (limit €3,000) |
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| Earthquake and fire following an earthquake |
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| Subsidence, landslip |
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| Third-party liability (limit €1,000,000), including liability to tenants. The limit may be increased to €2,000,000 for an additional premium. |
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| Accidents to employees working at the business (limit €100,000 per employee and €250,000 in total per policy period) |
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| Accidental and malicious damage to the building caused by the tenant |
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| Coverage / condition |
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| Coverage / condition |
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| Fees of architects, loss adjusters, engineering consultants or lawyers (limit €15,000) |
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| Increased water bills following accidental pipe leakage (limit €2,500) |
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| Lock replacement expenses following theft (limit €500) |
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| Loss of rent following an insured event (up to 6 weeks and a maximum of €20,000 per week). |
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| Mortgage instalment protection (up to 9 months and a maximum of €600 per month). |
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| Fatal bodily injury caused by robbers or fire (limit €100,000): insured persons over 16, limit €15,000; insured persons under 16, limit €7,500 |
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| Bicycle cover (limit €5,000) |
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| Theft of contents |
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| Theft of tenants’ personal belongings (limit €3,000 per person, maximum €30,000 per policy period). |
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| Accidental damage to tenants’ vehicles while parked in the premises’ private car park (limit €50,000 per vehicle and €200,000 in total per policy period) |
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Original programme comparison – table 2
| Coverage / condition |
BUILDING INSURANCE |
BUILDING & CONTENTS INSURANCE |
|---|---|---|
| Coverage / condition |
500 € |
500 € |
| Short circuit |
150 € |
150 € |
| Civil commotion, strikes, terrorism, malicious acts |
500 € |
500 € |
| Earthquake |
2% of the sum insured, minimum €2,000 |
2% of the sum insured, minimum €2,000 |
| Coverage / condition |
2% of the sum insured, minimum €2,000 |
2% of the sum insured, minimum €2,000 |
| Coverage / condition |
5% of the loss, minimum €500 |
5% of the loss, minimum €500 |
Original programme comparison – table 3
| Coverage / condition |
BUILDING INSURANCE |
BUILDING & CONTENTS INSURANCE |
|---|---|---|
| GROSS PREMIUM RATE |
€2.28 per €1,000 sum insured |
€2.63 per €1,000 sum insured |
| Coverage / condition |
220 € |
220 € |