Monday, December 5, 2022

When there isn’t enough money for the bail

by admin
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Today we want to think about an insurance policy that, in my understanding, is not insurance at all: rental deposit insurance. At the same time, I want to admit that this is not my core business. I was quite astonished when a publisher asked me a while ago if I could write an article about rental deposit insurance. To be honest, I had to google it before I understood what it was all about.

I was amazed a second time when I was told how many people take out such rental deposit insurance: every fifth tenant. And yes, maybe I should also say what this is about: With most tenancies, two to three months’ rent must be deposited in a blocked account as a deposit. This as security for landlords if tenants do not meet their payment obligations. Well, there are a lot of people who don’t have 4,000 francs on the high edge that they can fall back on. I am thinking of young people who are leaving the parental home.

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