Landlord insurance
If the unthinkable happened - are you covered?
As a Landlord you are exposed to numerous risks so it makes sense to lessen the blow should something nasty come your way. You should be aware that you require specialist 'Landlord insurance' if you are letting your property, otherwise any claims are at risk of being rejected. Rentguard can provide a range of insurances, here are a few.
Residential Landlord Insurance
Residential landlord insurance is a comprehensive insurance policy offered
at extremely competitive rates. Products are underwritten by leading UK insurers including RSA (former Royal & Sun Alliance plc), Sterling Insurance, Equity Redstar, Allianz, MMA Insurance,
Groupama, Zurich and Axa.
Landlord Buildings & Contents
Standard insurance rates for professional lets start at just £1.20 per
£1,000 sum insured but may be negotiated subject to the volumes of business. Rentguard provide quotes to the private rented sector for virtually any type of let with properties let to:
professionals/people of independent means, students, DSS and unoccupied properties.
Policy benefits
Rentguard's policy covers all the standard perils as well as providing the following cover for properties of all sizes throughout the UK:
- Cover for houses, bungalows and flats
- Commercial and residential combined
- Loss of rent cover is 30% of the buildings sum insured
- Property owner's liability starting from £5,000,000
- 45 day unoccupancy clause
- Contents cover up to £40,000
- Insurance cover is 'new for old'
- Policy excess for professional lets: £100 for buildings and £50 for contents
- Policy excess for non-professional lets: £250 for buildings and £50 for contents.
If you're looking for a competitive quote on ANY residential let property, then Rentguard's UK based team will endeavour to provide ith a suitable policy at extremely competitive rates.
Please note that the above information provides a summary only. For full policy terms and conditions please see the policy wording document. Terms & Conditions should be fully read and understood prior to taking out the policy.
landlord-insurance.pdf
Adobe Acrobat document [1.0 MB]
Rent and Legal Protection
There are 3 types of products available in this category, 2 of which include rent guarantee insurance, as follows:
Legal Expenses Insurance
This is a comprehensive Legal Expenses product that covers the landlord’s costs of any disputes with their tenant(s).
This is a 12 month policy and costs just £39.00 per annum.
Legal Expenses & Rent Guarantee (6 Months)
Comprehensive Legal Expenses and Rent Guarantee product covering the landlords costs for disputes with their tenant(s), with rent guarantee insurance up to a maximum of £2,500 per month.
This is a 6 month policy and costs just £53.00
Legal Expenses & Rent Guarantee (12 Months)
Comprehensive Legal expenses and Rent Guarantee product covering the landlords costs for disputes with their tenants, with rent guarantee insurance up to a maximum of £2,500 per month.
This is a 12 month policy and costs just £99.00 per annum.
legal-expenses-with-rent-guarantee.pdf
Adobe Acrobat document [859.7 KB]
Tenant Referencing
It is a requirement of this policy that the policy holder carries out references before the tenants move into the property. In the event of a claim, the responsibility lies with the insured to present the referencing documents.
All types of tenants have to be fully referenced either by Rentguard or a Referencing company approved by Rentguard – these include DSS, students, self employed lets and the like.
However, for full time employed working tenants a 4 point check will suffice* (please note that the details have to be valid from the start of the tenancy agreement.)
The 4 point check is:
- Identification from the tenant, containing a clear verified photograph
- Either a utility bill or a bank statement
- Credit check; clear of CCJ’s, bankruptcies & indicating confirmation of residency
- Confirmation of employment – a written employers’ reference on company letter headed paper confirming the tenant’s permanent and current employment and that their salary is at least a multiple of 2.5 of the tenant’s rent (the documents should be no more than one month old from the start of the tenancy)
Please note:
- if the 4-point check is applied & is in place, there will be no need to do a full profile – though in the event of a claim, the responsibility lies with the insured to produce the appropriate documents.
- when a working person does not meet the above or after working out their ratio of income against the rental requirement it proves insufficient: then a full profile reference has to be carried out. This reference can only be carried out either by Rentguard or their appointed referencing companies.
Not found what you are looking for? We can help:
Just contact us directly on 01522 569389 or use our contact form.
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