New obligation: liability insurance for objects of touristic rent
Since 11th of April objects of touristic rent have to take out an insurance policy of liability covering at least 300.000 Euros with a maximum of own funds of 600 €, covering the liability of all physical and material damages, the users of the housing might suffer during their stay. This is valid for the regulated rentings, which falls under the Law of Tourism of the Balearic Islands (Law 8/2012).
In difference to the seasonal renting, where an insurance of the housing is not necessary.
In case the correspondent insurance is not completed, the following consequences may be the result.
- Administrative delict
- Liability in face of the tenant (tourist)
Our advice: The owner should contact an insurance in order to comply this legal condition, which is duty since April.
By Iris Gruenewald
Founder
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