New apartment, new happiness. However, if you move, you must first pay a deposit. Landlords can ask for up to three months’ rent. The reason for the deposit: If damage occurs during the rental period, the amount will be deducted from the deposit.
Instead of paying the entire deposit into a rental deposit account, tenants can buy insurance, which will advance the deposit against payment of an annual premium. The tenant bears the costs in the event of damage anyway. However, there are massive differences in the premiums for insurance, as a Comparis comparison shows.
The most expensive rental deposit insurance costs more than 900 francs over three years. That is 40 percent more than the cheapest.
It is not worth
This difference is particularly annoying because, according to Comparis, rental deposit insurance is usually not worthwhile. «If there is damage to the apartment, the rent deposit insurance merely pays out the money. Afterwards, the latter demands the amount back from the tenant. The premium is due in any case, ”says Frédéric Papp, financial expert at Comparis.
If, on the other hand, you pay the deposit yourself, interest is paid on the money – albeit currently very low – and paid back after the rental period. Less any damage costs. “Rent deposit insurance only makes sense in the event of short-term financial bottlenecks,” says Papp. The longer the contract, the more expensive it will be for the insured.
Half of the deposit amount as a premium
With a five-year contract period, the premiums fluctuate between 1,134 francs (Axa) and 1,608 francs (Firstcaution). In the most expensive case (Swisscaution), a contract term of ten years devours over 3268 francs in premiums. That is more than half of the deposit amount. (lui)
Published: 03/25/2021, 11:47 a.m.