Rent and Legal Protection
Landlord’s Rental Insurance and Legal Protection is becoming a big deal, it’s a perfect combination of insurance for any commercial or residential landlord. Even the best of tenants can sometimes fall victim to financial circumstances which can make it hard to pay their rent. As a landlord, are you covered for this?
So let’s break this down!
What is Rent and Legal Protection?
Also known as Rent Guarantee Insurance, this is an optional but highly recommended form of insurance for all landlords. Whether you have one property or several, rent protection insurance can help protect you from defaults such as failures by tenants to pay their rent and any costly evictions.
This is an invaluable policy for landlords who rely on their rental income. Even if you do not rely on your rental income it can help you to feel more secure and sleep easy knowing should the worst happen, you are covered.
Some insurers will offer a Full Management Service to handle all administration of your property. This may include; pre assessment of tenants, collect deposits, facilitate improvements to the property and much much more.
What will the policy cover?
As a landlord most companies will ensure you for commercial and / or residential properties!
Whether you have an office / retail space you are renting out, a residential property, multiple properties, HMO’s or student letting you can be covered. Some insurance providers will allow multiple properties under one insurance and offer no limit to the number of claims per year.
Claims can sometimes be made even if the rent hasn’t yet been overdue for 1 calendar month.
Any strings attached?
No strings attached insurance, just ensure you already have a rental agreement in place before a policy can be taken out.