Non-Occupying Owner Insurance: Who Qualifies and What You Get
Learn if you need Non-Occupying Owner Insurance for your rental properties and how it protects your building structure from liability.
This insurance is designed specifically for individuals who own property but do not live in it themselves.
Who it's for
This scheme is for owners of rental properties who do not reside in the buildings they have leased out.
What you get
It provides liability coverage specifically for the building structure. This helps protect you if damage occurs to the physical framework of the property.
What it costs you
You will need to pay an annual premium to maintain the coverage. Please note that if your property is part of a condominium, this insurance is mandatory.
The catch to know
A common mistake is assuming that the insurance policy held by your tenant covers the building structure. Tenant insurance is separate and does not protect the owner's structural interests.
How to apply
- Confirm that your property is a rental and that you do not live on-site.
- Contact a private insurance provider.
- Request a quote for "Non-Occupying Owner Insurance" (also known as PNO or Assurance propriétaire).
- Review the coverage details to ensure the building structure is protected.