The Adevinta-owned Spanish real estate portal Fotocasa has launched two home insurance products in partnership with French insurance specialist Lovys.
According to the portal's data, some 74% of landlords in Spain feel like they have fewer rights than their tenants and since the onset of COVID-19 rent delinquency has gone up by 66%. The partnership aims to address this with a rental payment insurance plan for landlords offered on the portal's new platform seguros.fotocasa.es which also offers a basic home insurance product.
"With Fotocasa Seguros we want to offer landlords legal protection as it's one of the key reasons they find the rental market attractive. Owners need security and guarantees that incentivize them to keep putting their properties on the market and contributing to the rental housing stock," said María Matos, Fotocasa's Director of Studies and Spokesperson.
Fotocasa is not the only portal to offer insurance products. Argentinian portal Zonaprop, Belgian portal Immoweb and Australian portal Domain all offer insurance products through partnerships with third parties and Fotocasa's Addevinta stablemate A Vendre A Louer also acts as lead generation for insurance companies over the border in France.