Loss of rent cover for landlords
It is every landlord’s nightmare – your tenant has defaulted on their rent or has absconded, and the cost of taking the necessary legal action to recover that lost rent is typically time consuming and very expensive.
Even if you win your case against the tenant, overall you could still be out of pocket after paying legal fees.
It’s a hopeless situation – unless you have rent guarantee insurance.
Why buy rent guarantee insurance?
Rent guarantee insurance gives you the peace of mind that should your tenant fall in to rent arrears, or absconds owing you outstanding monies, then this insurance will step in and compensate you.
Not only that, but landlords legal protection insurance is included as standard (you are unable to purchase Rent guarantee insurance without Legal protection cover from the same Insurer, hence they are packaged together) with our rent guarantee insurance too, so you can enjoy all round peace of mind that your legal costs are covered (up to £50,000 per incident), at what we believe is a very competitive price.
- Cover for loss of rent up to £1,500 per month for a maximum of 6 months (or until vacant possession has been attained)
- Landlords legal protection included as standard
- Loss of salary or wages incurred for the time off work to attend any court or tribunal hearing as a witness or defendant (up to £100 per person per day, maximum £1,000 per claim)
- Legal costs incurred to use your legal rights to evict anyone, other than tenants who have your permission to be in the property
- A 24 Hour Helpline, so you know we are always at the end of the phone if you need help
- Cover for all tenant types
- Cover for both long-term leaseholders as well as those on a minimum 6-month agreement.
Important: To enjoy the benefits of a Rent Guarantee Policy you must obtain one Credit Agency Reference (from a reputable Credit Reference Agency) & at least one satisfactory written character reference for each tenant. An excess of one month’s unpaid rent applies to each claim made.
Act now to get your rent guaranteed!
To find out more about rent guarantee insurance, or to get a quote, please call us on 01702 606301.