Ultimate Rent Protection
To help you sleep at night!
Our superb NIL Excess ‘Landlord Disaster Recovery’ policy ensures that you receive your rent, even if your tenant doesn’t pay. Legal Cost cover is also included.
What is Rent Guarantee?
Unfortunately, there are occasions when a tenant simply fails to pay the rent. A robust Rent Guarantee insurance policy ensures that the landlord still receives their rent, even if the tenant doesn’t pay.
The current economic volatility and unpredictability makes rent protection insurance an invaluable product. It not only ensures financial security for landlords but also can also help foster a healthier, less adversarial relationship between landlords and tenants.
Landlords without rent guarantee protection may be in for a shock! Those who do have cover can rest easy. For those landlords who don’t have cover, the implications can be awful, especially if there is a mortgage on the property and the rent is relied upon to help make the necessary loan repayments.
Watch the video to see our Client Account Manager, Laura Clarke, explain the benefits of our ‘Landlord Disaster Recovery’ policy and how it works.
What are the Benefits?
Full Rent Protection for the total monthly rent, for up to 4 tenants as named on the tenancy agreement – provided all are referenced and have passed (excluding Houses of Multiple Occupation).
Full Rent Protection for up to 15 months or until vacant possession is obtained, whichever is the soonest up to £50000.00
Cover up to £2500 rent per calendar month
£100,000 Legal Costs in order to obtain Vacant Possession
6 or 12 month Tenancies
Cover includes breaches of the tenancy agreement by the tenant, including non-payment of rent and expired notices seeking possession.
Cover should a tenant defend the action taken, that means that we’ll continue to pay the claim until the challenge has been resolved.
No involvement in claims process.
Cope & Co. representative will attend court on the landlords behalf.
Serving Section 21 and/or Section 8 notice to regain possession of the property if required.
Cover available Monthly or Annually.
Cover even when the tenants change (subject to satisfactory references)
Covid-19 cover included
Full lock change on the property if required.
Our obligation to the landlord is that in the event that there are any defaults in the payment of the Rent (as set out in the tenancy agreement) by the Tenant(s)/Guarantor(s) within the tenancy, we will pay Rent monthly in arrears, as per the rent amount on the tenancy agreement, for up to 6 months or until possession is obtained, whichever is the soonest.
Payments will be made subject to any deductions agreed in the agency agreement. Deductions will also be made for any outstanding charges due from you.
In the event of payments being made under this guarantee, all of your rights as Landlord to recover such sums shall be subrogated to the Agent or their insurer in order to affect recovery of sums paid (in the name of the Landlord if necessary or expedient). By choosing this service the landlord confirms and agrees to the same.
Should you receive any funds from any Tenant(s)/ Guarantor(s) after any date of default which results in us having to pay any monies to you under the terms of this guarantee, you shall immediately notify us of such receipt and shall forward such funds to us immediately on receipt.
Specialist Landlord Insurance
For complete protection
A specialist buy-to-let landlord insurance policy designed to meet your specific requirements for the unexpected.
Specific Landlord Insurance
Letting a property is a specialised business and needs specific landlord insurance cover.
If you let a property but just take out standard insurance in your own name, there’s every chance the insurance company will refuse to pay any claim and you will be out of pocket. Tenants these days are increasingly litigious, so you should be aware of your legal liabilities. If, for example, a tenant was injured by faulty wiring or tripped over a broken floor tile, they could sue for damages.
Our partners at Let Alliance have focused on developing a Landlord Buildings and Contents Insurance product that is tailored to meet your requirements, with innovative cover options that are not available with other insurance products. The inclusive benefits are detailed below.
Watch the video to see Beth Holland explain the reasons why specific landlord insurance is so important.
What are the Benefits?
Nil, £250 or £500 excess options available (a policy franchise of £100 is in place for £250 or £500 excess)
Up to £500,000 buildings sum insured as standard (up to £1 million on request)
Buildings Accidental Damage included as standard – no charge!
Landlords Legal Liability cover up to £5 million
Trace and Access up to £5,000
Malicious & Accidental Damage by tenant option
Up to 20% of the Building sum insured for any loss of rent or the cost of alternative accommodation, following an insured event.
Up to 90 days unoccupancy.
Contents cover up to £50,000 sum insured.
Replacement of locks for external doors if the keys are lost or stolen, up to £1,000.
NIL Excess Home Emergency cover option (unlimited claims).
Covers for perils such as: storm, flood, subsidence, escape of water or oil, fire, earthquake, theft, and malicious damage by third parties.
Discounts for Your Property Portfolio
If you are a landlord with three or more properties you could benefit from a discount of between 5% and 10% off an already competitive premium.
Your mortgage lender usually requires that your property is protected with Buildings insurance. Even without a mortgage, it is extremely important to protect your assets from the unexpected like burglaries, storms or malicious damage by tenants.