Tenant Rent Guarantee Insurance – A Must for Landlords

If you are a property owner and have let it on rent, it would be a wise decision to have rent guarantee insurance. It is a vital requirement for a landlord as it protects landlords whose tenants default on payments of rent. The guarantee also provides cover for costs and proceedings to evict the tenant from the rented property where applicable. Renters insurance protects landlords against any kind of defaults on part of the tenants.

Landlords must keep themselves protected against voids and non-payment of rent, including legal expenses and the cost of evicting tenants. We can provide you with rent guarantee insurance from less than £10 a month! The rent guarantee includes:

• Immediate protection if your tenant fails to pay the rent
• Get a cover up to £2,500 a month in rent
• 6 or 12 month cover option
• Payment within 14 days of default, minus excess
• Expenses for legal action and tenant eviction

You can get Rent Guarantee insurance cover from less than £10 a month and protect against non-payment of rent in a short period. In case, your tenant defaults on making a payment, the rent guarantee insurance provides instant protection. Renters rent insurance guarantee policy cover will pay out 14 days after the tenant defaults, minus the amount of the excess. Once the tenant first defaults, you have 31 days to make a claim. Renters’ insurance consultant can help you get the best rent insurance.

The benefit will be paid at a rate of 1/30th of the monthly rent for each continuous day that rent is in arrears for a maximum of 6 months and a total of up to £2,500. You can change your mind if you wish to make any changes. New policies may be cancelled within 14 days of receipt of the insurance documentation. You will receive a full refund of the premium, provided that no claims have been made to the insurer. Hence, you must get tenant rent guarantee insurance if you are concerned about the steady flow of rent.