Landlord Rent Guarantee Insurance
Rent Protection Insurance Backed By ‘Exceptional’ Service
Want to save money on your landlord rent guarantee insurance? Let the rent protection insurance specialists at Coversure Hull compare our markets to find you the rent guarantee insurance that’s right for you. Whether you have a residential let, commercial let or a mixture of the two, call us today on 0800 977 6037 and let our award-winning team help you get the protection you need.
Landlord rent guarantee insurance backed by ‘Exceptional’ service
Our award-winning team is rated as ‘Exceptional’ by feefo and with over 50 years of landlord insurance experience, you can rest assured you’re in safe hands. Being independent we can put your needs first, and we’ll compare the market to find you great cover for a great value premium. To find out more, call us free on 0800 977 6037 or start your landlord rent guarantee insurance quote today.
What is landlord rent guarantee insurance?
Landlord rent guarantee insurance, rent protection insurance or tenant default insurance as it’s also known, is an important protection that can be added to landlord insurance and provides financial compensation should tenants fail to pay their rent. It will cover lost rent for an agreed period – typically 6 to 12 months – and you can make a claim if your tenants can’t or won’t pay their rent.
What does landlord rent guarantee insurance cover?
A standard policy will cover the following:
- Lost rent – usually for six to 12 months up to an agreed monthly limit
- Landlord legal expenses – usually between £50,000 and £100,00 to cover eviction costs should you need to evict your tenant
- Access to legal advice – via a helpline should you need to consult a legal professional regarding your tenants
Some things aren’t covered by rent protection insurance, including:
- Deferral periods – usually the first month of rent arrears
- If the tenant leaves – either willingly or through eviction
- If you decide to sell the property
- Higher-risk tenants – those more likely to default. This can make it hard for people with HMO landlord insurance to get cover
- Rental contract disputes – might not be included in legal expenses cover
Some insurance brokers won’t be able to offer commercial rent guarantee insurance, but we can, and you can find out more here.
How much does rent guarantee insurance cost?
At Coversure Hull we don’t believe in one-size-fits-all solutions for our clients. Instead, we’ll get to know your needs and create a package of cover that fits your requirements. What we can say is that your landlord rent guarantee insurance quote will depend on things like:
- The type of property you need cover for
- Its postcode
- Your claims history
- The types of tenants you’re renting to – high-risk ones such as students are likely to push up your premiums
- The amount of rental income you wish to insure
- How comprehensive your policy is – many insurers offer different levels of cover
- Whether you want to include legal expenses
- How much excess you’re happy to build in – the level of excess – how much you pay in the event of a claim – is up to you. Some insurers will offer zero excess, so you pay nothing when making a claim, but that will cost you more
- Whether it’s a residential or commercial property
The best way to get the landlord rent guarantee insurance is to get some independent advice. Our team of landlord insurance specialists will be happy to get to know your needs and provide you with the landlord rent guarantee insurance that’s right for you.
What types of property can landlord rent guarantee insurance cover?
Landlord rent guarantee insurance through Coversure Hull can cover residential properties, commercial properties, or a mixture of the two, so we can offer protection for:
- Flats
- Buy-to-let houses
- Shops
- Cafés and restaurants
- Factories
- Warehouses
- Mixed property portfolios
These are just some of the types of rental properties we can offer protection for. If you have something specific in mind, please call us on 0800 977 6037.
How to get cheaper landlord rent guarantee insurance
The easiest way to get cheaper rent guarantee insurance is to use a specialist independent insurance broker such as Coversure Hull. With our knowledge of the market and insurer relationships, we can help you get cheaper rent guarantee insurance quotes. Other ways include:
- Agree to a higher level of excess
- Choose lower policy limits
- Go for low-risk tenants, so avoid students, the unemployed and those on state benefits
Landlord rent guarantee insurance FAQ
Landlord rent guarantee insurance is a complex area of cover and it’s important to get it right. To help you get the protection that’s right for you, here are our landlord rent guarantee insurance frequently asked questions. We hope they will prove helpful, but if you’d like to get some independent advice, then please call us free on 0800 977 6037. Our team of insurance specialists will be happy to talk you through the options to ensure you get the protection that’s right for you.
Q. Is landlord rent guarantee insurance a legal requirement?
A. No, but it can be a real help should a tenant default
Q. Do I need a tenant reference for rent guarantee insurance?
A. We’d recommend getting a tenant reference and you may find that you won’t be covered for tenants who default on their rent if they haven’t provided appropriate referencing before moving in. References also reassure the insurer that the tenant is less of a risk
Q. What policy limits do I need?
A. That will depend on the level of rental income you have, if you want to include optional extras such as legal expenses, and how much you are prepared pay. The best way to get the correct policy limits for your rental property is to get some independent advice. If you have a specific property in mind, please then please get in touch by calling us free on 0800 977 6037
Q.What types of property can be covered?
A. We can offer cover to landlords with all kinds of property, both commercial and residential
Q. How much does landlord rent guarantee insurance cost?
A. That will depend on things such as:
- The type of property you need cover for
- Its postcode
- Your claims history
- The types of tenants you’re renting to
- How comprehensive your policy is
- Whether you want to include legal expenses
- How much excess you’re happy to pay
Q. How can I get a landlord rent guarantee insurance quote?
A. Getting a quote is easy. You can start your landlord rent guarantee insurance here or call us on 0800 977 6037
Get a rent guarantee insurance quote today
If you'd like some landlord rent guarantee insurance help or a rent guarantee insurance quote or call us on 0800 977 6037. We can give you all the advice you need and can compare our markets to find you the cover you require.
