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Homeowner non-occupant insurance, often also referred to as PNO insurance, allows a property owner to protect a property that they do not personally occupy.
This is the owner of a property that is rented out. However, a property not occupied by its owner is not necessarily rented out. It can also be vacant, meaning without occupants, for example, during the time between two lease contracts. The property not occupied by its owner can also be offered to a third party free of charge.
Properties, whether apartments or houses, where you do not reside represent valuable real estate investments. This asset must be protected from potential occurrences of damage, including fire, water damage, vandalism, or natural disasters. These incidents not only risk diminishing the value of the unoccupied property but can also be costly. Repair expenses will remain your responsibility if you are not insured. Furthermore, these same incidents may render the unoccupied property unfit for its intended use (for example, rental property).
Homeowner non-occupant insurance or PNO insurance is legally mandatory only in certain cases. If the unoccupied property is located in a condominium, PNO insurance has been compulsory since the ALUR law of March 2014. This mandatory homeowner non-occupant insurance guarantees your civil liability as a co-owner, even if the property is occupied by a tenant. It thus protects your potential tenants, neighbors, or third parties from damages that your property could cause. However, if the property is not in a condominium, homeowner non-occupant insurance or PNO insurance is not mandatory. Nevertheless, it is strongly recommended to preserve the integrity of an important element of your assets.
Homeowner non-occupant insurance or PNO insurance covers all types of real estate properties. It can be a house, an apartment, a mobile home, as well as their annexes such as a cellar. The properties you want to insure with PNO insurance can also be furnished or unfurnished.
If a claim occurs in the property covered by PNO insurance, you simply need to report it when you notice it. This is how you will benefit from coverage, according to the terms of the contract and the level of coverage you have chosen. For example, a non-occupant landlord may be covered in the event of: fire caused by an electrical incident; water pipe leakage causing damage to the insured property or a neighboring property when the insured property is at fault; burglary or attempted burglary of your insured belongings in the insured property.
Homeowner non-occupant insurance offers a wide range of useful options to provide tailored protection for your properties.
Also, don't forget: Loss of rent coverage, following a covered claim, your tenants will be taken care of. Relocation of my tenants in case of a claim. Legal protection for property owners and landlords, especially in situations of unpaid rent.
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