News - Updated Al Insurance Cover Now Available.
Updated AL insurance cover now available.
Alojamento Local Insurance
Following on from our recent article (https://www.azul-properties.com/113366/algarve-property-news/new-alojamento-local-law/) regarding the changes in the Alojamento Local law, we have received details of an updated insurance policy.
This policy complies with the requirements to insure against damage caused by guests to common areas.
Those operating AL properties within condominiums are obliged to take out this insurance. In the case of new applications for AL, then the insurance must be taken out when the activity starts.
Existing AL properties are required to have this insurance in place within the transition period (until October 2020) but it is common sense to put this in place now.
Allianz are offering a fixed price policy of €65,40, for €75.000 of cover. If you would like details of this, please email Miguel Raminhos firstname.lastname@example.org