Turkey begins application of rental insurance

Baku. 27 June. REPORT.AZ/ The insurance companies in Turkey have begun to offer citizens rental insurance.

Report informs citing Turkish media, this type of insurance will be available to citizens who lease their apartments and office space for rent.

So, in the event that the tenant does not pay for renting the premises within 3 months, insurance company will compensate the owner of the premises for the damage caused.

Despite the fact that the cost of this type of insurance is high, the new service was well received on the market.

Hundreds of property owners have already applied to insurance companies to purchase this type of insurance.

Rental insurance includes payment for not only a rent, but also for utilities which the tenant has refused to pay.

Notably, insurance of rent is widely used in the USA, also in a number of developed European countries.