A rental deposit insurance replaces the traditional rent deposit held in a bank account. Instead of depositing the entire deposit amount in cash, the tenant pays an annual premium. In return, goCaution issues a surety bond on behalf of ProTect Insurance SA in favour of the landlord.
By means of a surety certificate, the insurance guarantees the landlord financial protection in the event of a claim. Landlords can assert all common claims – for example outstanding rent, ancillary costs or damage to the rental property.
The legal basis, as with a traditional blocked bank account, is Art. 257e OR.
- ✓No large lump-sum payment when moving in
- ✓No double burden when relocating (old and new deposit)
- ✓Rapid issuance of the surety certificate
- ✓For the landlord, equivalent security to a bank deposit
- ✓Fair premiums with no hidden fees
Gut zu wissen
Please note: premiums paid are not refundable, as they serve to cover the guarantee. If a payment is made to the landlord, this amount must be reimbursed by the tenant (right of recourse).
