Rental insurance often covers unpaid rent and rental hazards in the case of an empty rental (water damage, fire, etc.). A second rank guarantee or a surety may be used to provide the guarantee of unpaid rents. This means that the guarantee or surety will be obligated to reimburse the lessor for any overdue rent in the event that the tenant defaults. On the other hand, the lessor typically purchases an insurance policy to ensure rental risks. Therefore, the insurer will be responsible for paying for repairs in the event of a claim.