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Rental guarantee insurance without a security deposit is the most widely used type of rental guarantee in Switzerland, and the most widely recognized by lessors. Rental guarantee insurance from AXA provides your landlord/lady with the same financial security as a security deposit at a bank – only the service is quicker and better.
Rental guarantee insurance is a surety that provides you as the tenant with the same security as a security deposit at a bank. In return, you pay an annual fee.
The surety is really simple: If you damage your rented apartment or don't pay your rent, we will pay your landlord/lady for any justifiable damages or rent owed. Sometime later we will then require you to repay us the money we paid on your behalf as tenant.
If the apartment has been damaged, we will automatically check to see whether you are liable for the damage or whether your private liability insurance will pay. But we will only do this after we have already paid your landlord/lady for the damage.
In order for AXA to stand surety for you, you must have personal liability insurance. This is generally very important to landlords/ladies because it covers a wide range of damage that could happen in a rental apartment.
Of course you can still take out AXA rental guarantee insurance even if your personal liability policy is with another insurance company. Enjoy a 10% bundle discount if you buy both your personal liability policy and rental guarantee insurance from AXA.
If you have to put up a deposit for your apartment, you have two options: Take out rental guarantee insurance or place a security deposit in an escrow account at a bank. We'll show you the differences.
Your current AXA rental guarantee policy cannot simply be transferred to your new apartment. When your lease ends, you must cancel your rental guarantee insurance. If your landlord/lady makes a complaint, they can still require you to surrender the security deposit. If you’ve already paid your annual premium, then we will refund it to you after discussing the matter with your landlord/lady. When you rent a new apartment, all you need to do is sign another contract with us for a new rental guarantee amount. You will then receive a new rental guarantee certificate.
Of course you can cancel your rental guarantee insurance at any time. Just have your landlord/lady confirm the cancellation in writing and return the original surety document. As the tenant, you are responsible for paying the premiums for the AXA rental guarantee insurance until the end of your lease.
A security deposit account means you have to deposit the entire security deposit in the bank at once, but with rental guarantee insurance from AXA, you can access your money any time you like. You only pay 4% of the rental guarantee amount as an annual premium to AXA. And we also take care of investigating any personal liability claims for you and determining whether the rental guarantee insurance covers them.
Rather than receiving a document confirming that an escrow account has been opened, landlords/ladies will receive a surety document three days after the contract is concluded. This means they have fewer administration hassles. They also know that the creditworthiness of their tenant has already been checked and that the tenant has personal liability insurance. This is why rental guarantee insurance is so popular with landlords/ladies.
Rental guarantee insurance from AXA is a good idea for both tenants and landlords/ladies because both parties benefit from it.
AXA will pay your landlord/lady right away in cases of damage or back rent owed if the claim is justified. We will need the signatures of both the landlord/lady and the tenant. Sometime later we will then require you to repay us the money we paid on your behalf as tenant.
The amount of the premium is based on the amount of the rental guarantee surety and is set at 4% of the rental guarantee amount. The price includes federal stamp duty. The premium is due annually. Click here if you would like a personal consultation.
Rental guarantee insurance from AXA provides landlords/ladies with the same security as a security deposit in a bank. The landlord/lady will receive the surety three to five business days after the contract has been concluded by the tenant. And the landlord/lady knows for certain that the tenant has taken out personal liability insurance.
No, your premiums are used to pay for the surety that AXA provides for you as a tenant. This surety is AXA’s guarantee that it will pay for any damage to the apartment or any back rent owed up to the defined amount during the term of your lease.
Rental guarantee insurance is limited to a maximum amount of CHF 20,000.
The landlord/lady reports damages to the apartment or makes a claim for unpaid rent. To do this, they must send you the original surety document with their signature. You must sign this document to give your consent and then we will transfer this amount to your landlord/lady. We will claim this amount back from you later on.
If the disagreement is about damages to the apartment, you should always report these to your personal liability insurance first. It will cover any justified liability claims and protects against unsubstantiated ones. If your landlord/lady has initiated debt collection proceedings, we are required to pay the debts without your consent if:
Yes, your landlord/lady has the right to ask you for an ordinary security deposit with a bank. This is stated in your lease agreement.
The premium you have paid will be refunded.
Yes, no problem. After you talk with your landlord/lady, you can take out AXA rental guarantee insurance at any time. After he/she receives the surety document, he/she will refund your security deposit.
You pay 4% of the security deposit amount each year for as long as you live in the apartment and as long as you keep up payment on your rental guarantee policy.
No, because higher rent doesn’t change the amount of the security deposit, which remains the same as long as you continue to pay the agreed annual premium.