insurance required for 1 week rental

Old Jan 1st, 2006, 03:28 PM
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insurance required for 1 week rental

Happy New Year!

Has anyone encountered a requirement for liability insurance when renting an apartment for a week (includes posting a security deposit of one week's rent)? The apartment I'm considering seems nice, modestly priced in Paris (7th). Want to know if this is common.

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Old Jan 1st, 2006, 05:46 PM
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I'm not clear what you mean - are they asking for insurance in addition to the security deposit (which is normal for any rental)?
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Old Jan 1st, 2006, 06:50 PM
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Some agencies require insurance, some strongly recommend it (push it actually since they probably get the commission), and some don't mention it at all.

Some sites like homelidays, will advise you get their insurance. But you deal w/ the flat's owner directly so whether you buy insurance is totally up to you.

But, yes it is semi-common to have an insurance requirement. It is up to each individual agency.
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Old Jan 2nd, 2006, 07:46 AM
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A security deposit is certainly common, I would think it very unusual to not have one. I have never been required to buy liability insurance for a Paris apartment, but what kind of insurance are you really talking about? If it's insurance to cover possible property damage, you shouldn't have to buy both insurance and give a security deposit, that seems contradictory. I was given the option of buying insurance instead of placing a deposit for one Parisian apt. I rented, and that appealed to me given the reasonable cost and not having to worry about getting a deposit back, so I did. I don't think I ever paid a deposit that was one week's rent, but it probably isn't unheard of.
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Old Jan 2nd, 2006, 11:36 AM
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Sorry...I may have been unclear. I am working directly with the owner, although an agency set up the contact. I am required to pay a security deposit of one week's rent. The owner also asks for property damage insurance. This is why I ask if the dual process is unusual. I, too, think that the security deposit would cover damages (1029 euro).
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Old Jan 2nd, 2006, 11:54 AM
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I think it's unusual, but the owner is being super-cautious, I guess, and that may just be their attitude, or they have had bad experiences, or it's a place with some nicer, valuable things in it. You can find plenty of places without that, though.
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Old Jan 2nd, 2006, 11:57 AM
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I have never heard of that sort of set up. I was talking about trip insurance. It is common for some agencies in the UK and France to require/recommend trip interruption ins. But I sure as heck would not buy property damage liability onn top of a full week's security deposit.

Even a sec. deposit = to a week's rent is more than I've ever paid and seems excessive.
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Old Jan 2nd, 2006, 05:47 PM
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Thanks so much for your feedback. I have e-mailed to the owner to ask if he will waive the insurance requirement (I do have trip insurance, thanks)and accept only the security deposit. We are 4 seniors, and I can't imagine we'd do more damage than maybe break a dish. Will let you know how it turns out.
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Old Jan 3rd, 2006, 11:25 AM
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You know, I was thinking that was pretty odd, also, and wondered what kind of liability insurance this was. I thought maybe they were worried you'd sue them if you fell and broke your leg, but you said it was also property damage insurance (to cover stuff over and above the deposit, I guess).

I thought it was the property owner that was supposed to have liability insurance for people on their property, like workers. I know my homeowner's insurance includes some liability, as does most people's. Don't you have liability insurance from your homeowner or renter's insurance already? If so, maybe you should tell the owner that you have it already (check your policy to see what it covers).

Find out what this owner is really worried about. Anybody can do all kinds of damage to an apt., though -- you could go out and leave the water running so it flooded the room, for example, or leave something on the stove and cause a fire. Most places that are in business renting apts. to vacationers should have their own insurance for major things, I would think (and their own liability insurance). That's why I have liability insurance on my home, to protect me from when others are on my property.
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Old Jan 3rd, 2006, 04:29 PM
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Thanks Christina...

You are right, exactly what I thought, too. I guess I'll wait it out a bit to see if it is negotiable. My homeowner's policy doesn't seem to cover damage to other's property when it is not on my premises. Quite vague (as is all insurance), but I would expect them to have some. Definitely will post a result and thats for all the feedback!
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Old Jan 6th, 2006, 10:01 PM
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I have finally sorted out this thing. The owner says he does not have insurance to cover rental to others. My insurance co. said they never heard of an owner not having insurance and it sounds like they expect tenants to cover all risks. My ins. co. (AAA) doesn't offer coverage of that sort. I do have ins. to cover my property away from home.

I have decided to withdraw and look for another place. It is too risky to assume that liability. At least I may only lose about $400. (deposit). Better than my entire life! I'll be more aware this time. Thanks for all the information
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Old Jan 7th, 2006, 05:25 AM
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Hi prr,

I think that you are correct to opt out of this deal. An apt owner who doesn't have his own insurance is unlikely to keep the property in good repair.

Why will you lose a $400 deposit? Have you signed a contract? Did you give them money?

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Old Jan 7th, 2006, 05:42 AM
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yes, I gave the deposit, thinking that the required insurance was to cover my property at the apartment. I am asking for a return, but I doubt I will get it. I made the mistake by not asking more about it before I signed the rental agreement
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Old Jan 7th, 2006, 05:47 AM
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quelle fromage.
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Old Jan 7th, 2006, 08:57 PM
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gee, that is too bad. I didn't know what my homeowner's policy covered in terms of liability, I know it is mainly for my property (or some belongings abroad). It doesn't surprise me it wouldn't cover someone else's home I was renting.

I can't imagine someone renting out property not having insurance to cover the property in case of fire, etc. I imagine it costs a little more than just regular homeowner insurance if you are renting a place. Kind of nervy to make you pay for it IMO. I don't even know where you'd buy such a thing, anyway.

To be honest, I wonder if a lot of people renting out apartments casually to vacationers may not have it either, but just don't think about it that much. I know I would have it if I decided to do that, it couldn't be that expensive.

I've only dealt with agencies when I rent in Paris, and the question hasn't come up, so either the agency has their own, makes sure the owner does, or it is slipping through the cracks. I do pay security deposits, of course, of a few hundred euro.
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Old Jan 13th, 2006, 04:29 PM
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Thanks everyone, for the kind sympathies. We're working on another place, directly with the owner, in our locale (SF Bay Area). Their lease is exactly what I expect of a normal contract, and it is good to be able to talk with them by phone. Also spoke with a reference who has rented the place 3 times. Got a candid opinion (not glorified)and feel condfident that we will get at least what they advertise. A bitter lesson, but now I have you folks to talk to (I had engaged the other place before I had experienced this forum). Many thanks for being there!
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Old Feb 14th, 2006, 04:05 PM
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To all of you supporters on this thread, I thought you might like to know the final outcome of this insurance situation. The owner has refunded our "non-refundable" deposit, acknowledging that this type of insurance is not a standard requirement. He has obtained a policy that now will avoid the problem we had. I will e-mail and ask him to explain it more thoroughly. He was very cordial and apologetic for the confusion. Though we lost several more dollars on the conversion, it at least wasn't the whole $400. It strenghthens my faith in this sort of rental and people's honesty. We will consider renting from him if we do go back to Paris another year.
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