HomeLet Insurance
Frequent Questions

Insurance Cover

Can I insure more than one rental property with Atlas?

Yes, our HomeLet policy has been designed to insure one or more rental properties under one policy. The rental properties can have different addresses throughout the Maltese Islands. The cover within the policy applies to each rental property insured with the exception of liability to the public and to domestic staff where the limits will apply at policy level. Properties are usually insured in the Landlord’s name but if any rental properties are sub-let, both the Landlord and the Sub-Lessor may be joint policyholders.

What is covered when I insure the buildings of my rental property?

Buildings insurance covers the structure of your rental property including immovable fixtures, fittings, interior decorations, permanent swimming and/or plunge pools and related equipment, patios, paths, drives, terraces, boundary and garden walls, gates, hedges, fences and railings, car ports and garages. The Buildings also include bathrooms, doors, kitchens (including fitted appliances), PV panels, solar heating and power systems, air conditioning units, fitted carpets and floor coverings. The policy covers the cost of repairing or re-building your rental property if it is damaged by fire, earthquake, explosion, lightning, storm, flood, malicious persons, burst pipes, theft and attempted theft. Other incidents and benefits are covered and are shown in detail within the policy document.

Are the common parts of the apartment block covered under the policy?

If your rental property is an apartment, your proportionate share of the common parts will be covered as long as you have made provision for these in the value on which you would like the property to be insured. Should the common parts, however, be covered under a separate condominium policy (or equivalent), then these will automatically not be covered under the Atlas HomeLet policy so such value can be excluded from the sum insured.

Will I be covered for my legal liability towards my tenants?

When the buildings of your rental property are insured, the policy automatically covers your liability as landlord and/or sub-lessor towards your tenants and other third parties up to a limit of €1,250,000 for any claim or series of claims arising from any one event or one source or original cause.The policy also provides cover for the tenant’s liability towards third parties but not towards any other tenant living in the same rental property. There is no liability cover if the HomeLet policy is purchased for the landlord’s contents only. The policy has a standard Jurisdiction within the Maltese Islands, however, should you wish to extend this to the countries within the EuropeanEconomic Area and the UK or Worldwide (excluding USA and Canada), we will be able to do so at a flat additional premium.

Can I insure the contents of my rental property?

Yes, you can insure the landlord’s contents of your rental property which include moveable items within the rental properties such as furniture, soft furnishings, decorations and home entertainment equipment. The policy will not cover any money and valuables which are items of gold, silver, jewellery, watches and similar items. The contents belonging to any tenants are not covered by the policy and it is recommended that the tenant issues a separate policy in their name for their own contents. (A HomePlan policy may be issued).

Will my property be covered for any damage caused by pets?

Our policy excludes any damage caused by animals belonging to you and your tenants as well as any animals being held in your care or your tenant's care.

Can I cover my rental property for accidental damage?

Our standard policy offers limited cover in respect of accidental damage to glass and sanitaryware (up to €1,500 annually) as well as accidental damage to cables, underground drains and pipes. Wider accidental damage cover may be provided on both the Buildings and Landlord’s contents at an increased rate. We will be able to provide you with a quotation on-line as well as through our staff members, tied insurance intermediaries and brokers.

Will I be covered if my tenant steals any of my contents?

The standard policy covers theft provided that there is entry following violent means so theft by your tenant is not automatically covered. Should you opt to take our accidental damage cover, then full theft cover is provided which will include theft by your tenant.

Would I be able to insure loss of rent income?

Yes, this is available as an extension on the policy provided that the property is let out for at least 6 months and always subject to a rental agreement between you and the tenant. We will be able to cover such loss of rent income following claims on the property which result in the property becoming uninhabitable or access to the property is denied due to loss or damage to neighbouring properties. You may choose the number of months you wish to have covered and our period options are 3 months, 6 months or 12 months cover. The maximum monthly rent that we are able to provide is €1,500. You will be able to obtain a quotation on-line as well as through our staff members, tied insurance intermediaries and brokers.

Will I have to pay a policy excess in the event that I make a claim?

Yes, the policy has a basic €100 excess for most claims, however, a €250 excess applies for the following:

• - claims related to earthquake and subterranean fire;
• - theft and malicious damage claims;
• - claims for accidental damage (applicable with the optional accidental damage extension);

A standard €500 excess will apply for storm & flood related claims to rubble walls (tas-sejjieh).

Will the garden furniture be covered by the policy?

As part of the Landlord’s contents, we will provide limited cover on your outdoor furniture against the main risks provided by the policy i.e. fire, explosion, storm, flood and malicious damage. The annual limit provided for such items is €1,500. These items will not be covered for theft, however, they would be covered for theft up to the €1,500 limit with the accidental damage extension which is available at an increased premium.

Is Emergency Assistance available with the policy?

Yes, automatic 24/7 Emergency Assistance will be provided to you as landlord and/or sub-lessor, provided that you have purchased Buildings cover under your policy. Such emergency assistance is available when an event occurs which exposes your or your tenant to a health risk or to a risk of loss or damage to your rental property including your tenants’ belongings. The following are the main covered emergency call outs:

• - plumbing problems related to leaking water pipes, fixed water installations or sanitary fixtures and fittings;
• - failure of the electrical supply affecting all sockets and/or lighting on one or more levels;
• - loss or theft of or damage to an only key and you are unable to gain access to the rental property;
• - broken or damaged windows and doors (including locks thereto) presenting a security risk You will be provided with a 24/7 Helpline.

You will be able to claim up to 3 incidents in any one period of insurance for each rental property insured, subject to a maximum of €200 any one incident.

Are there any conditions related to the property that need to be notified to Atlas?

Yes, you will need to notify us if any of the let out properties are:

• - not registered with the relevant Maltese authorities;
• - are being used for commercial reasons other than that letting and clerical work from ‘home’;
• - not of standard construction used in Maltese properties;
• - in an area that is normally prone to flooding;
• - not is surrounded by occupied private residences;
• - not complete in every respect including any building works or internal alterations;
• - not protected by doors and windows against wind, rain and other elements;
• - not in a good state of repair;
• - unoccupied for more than 90 consecutive days; or
• - used by the policyholder/s to store, manufacture or transport any high explosives including pyrotechnic materials (firworks) in or about the property

These are conditions that you would agree to when issuing the policy unless any of these declarations are not applicable to you, in which case, you would need to disclose these and we would need to confirm if we will accept to insure such property/ies. You must also inform us should any of these conditions change at any time as we might need to re-assess the risk.

Are there any conditions related to the Landlord and/or Sub-lessor (if applicable) that need to be notified to Atlas?

Yes, the policy will be issued subject that the landlord and/or sub-lessor (if applicable), including any family members residing with them, have never been arrested, do not have any pending prosecutions, have never been convicted of any offence (other than driving offences) and have never been declared bankrupt.  Should any of these persons have had any of the above convictions, prosecutions or bankruptcy, then we would need to know about this as we would need to re-assess the risk.  This will also apply should any of these conditions change at any time.

Are there any special conditions that I need to comply with when insuring my rental property?

Yes, these are the most important warranties specified in the policy

• - You must inspect the rental property at regular reasonable intervals – at least once every 3 months;

 

• - You must turn off the water supply at the main stop cock when the rental property is unoccupied for more than 30 consecutive days.

 

• - You must have
•                   - at least one fire blanket in the kitchen;
•                   - at least one adequate multipurpose portable fire extinguishing appliance within the rental property which is serviced annually and certified to be in good working order by a qualified technician.

 

• - You must maintain the rental property in accordance with Legislation related to letting which includes subsidiary Legislation 465.03 – Control of Legionella Regulations.

 

• - Should your rental property contain any swimming or plunge pools, You must ensure that all areas surrounding the swimming or plunge pools have non-slip flooring or surfaces; the swimming or plunge pool water is filtered or changed on a weekly basis; additives specifically designed for the purpose of prevention of the spread of disease shall be added to the swimming or plunge pool water as recommended by the manufacturer of such additives and notices showing clearly rule of conduct and water depths, are prominently displayed around the swimming and/or plunge pool.

 

• - You must take and cause to be taken all reasonable precautions to avoid injury, loss or damage and take and cause to be taken all practicable steps to safeguard all the property insured from loss or damage.

 

• - You must maintain all the property in good repair. If You discover any defect in any property insured, You must remedy such defect as soon as possible.

 

• - You must also comply with all statutory obligations and regulations imposed by any authority and with any relevant manufacturers’ instructions.