Used as collateral for the lessor’s receipt of the rental, the surety bond is an option increasingly requested in the lease of residential and commercial properties. Survey of the Secovi-SP (Housing Union) points out that, in May of this year, the surety bond was used in 18% of the leases made in the city of São Paulo. The BANCO DO BRASIL AND Free INSURANCE GROUP clarifies details about the product and shows how to ensure good trading.
How does insurance work?
When renting a property, the owner can choose tools to guarantee the financial return of the lease as the guarantor, deposit-surety or surety-bond. “Among these options, the surety bond stands out for the easy hiring, because there is no bureaucracy,” explains Jabis Alexandre, general director of Automobiles and Massifs of GRUPO CC D Free.
The basic coverage of the insurance is the payment of the rent since the real estate can trigger the insurer after completing two months without receiving the deposit of the tenant. CC D Free also offers additional packages that include reimbursement of damages caused to the infrastructure of the property, painting, payment of expenses such as IPTU, condominium, water, electricity and gas and, finally, the fine for contractual termination.
What are the advantages to the renter?
The policy offers advantages from the time of hiring. Alexandre adds that the product “is an alternative for those who can not opt for the guarantor and/or disburse the high amount of money necessary for the deposit-surety that is, on average, three times the monthly value of the rent.”
In addition, GRUPO CC D Free offers a free assistance plan for the residence. The resident can request services from professionals, such as a plumber, electrician, locksmith, glazier, etc., to solve basic domestic problems. Assistance can be triggered up to three times a year.
The market average is two months rent, but the price varies according to the contract details chosen by the site owner. The insurance value considers the profile of the insured, the chosen coverages, the type of property, the region etc. To facilitate the purchase, the GROUP offers the option of installment up to 10 times.
How and when to fire the insurer? The policy can be triggered after the absence of payment of two installments of the rent. In this case, the real estate agent should contact the insurer and send the necessary documents. Payment will be made until maturity of the next installment, after sending the necessary documents.
About the BANCO DO BRASIL AND Free INSURANCE GROUP
As a result of the strategic union between Banco do Brasil and Free Seguros, GRUPO SEGURADOR BANCO DO BRASIL and Free have more than 6,000 employees, more than 65,000 points of sale, including brokers and bank branches. It has one of the largest product portfolios on the market, as well as specialized business units, comprehensive territorial presence, and multichannel distribution.