Regardless of how thorough you are with background checks, when it comes to new tenants, there is no way to know for certain if they’re going to find themselves in arrears of rent during the tenancy. This is why products such as our Rent Guarantee Insurance have been created to fit the needs of our customers, and provide you with peace of mind.
We have come across enquiries from landlords, asking whether landlord insurance would cover rent arrears. Our Landlord Insurance product provides the widest cover as standard, with 40 essential covers, and, as such, we have decided to keep our Rent Guarantee Insurance as a separate cover. We want to maintain competitive quotes for our Landlord Insurance, happy in the knowledge that you won’t find a more comprehensive policy elsewhere. Unlike other companies that entice you with a cheap base quote, which then increases considerably as you add on the covers you need, we want to clearly provide you with rent guarantee as a separate option. This then gives you the freedom to decide for yourself whether or not to obtain cover against rent default by your tenant.
What is our Rent Guarantee Insurance?
You can’t predict that a tenant may fall on hard times. They could loose their job or fall seriously ill, resulting in a lack of funds to maintain rent payments. At Just Landlords, our Rent Guarantee Insurance is there to take away some of the stress that comes with being a landlord, and the full cost is tax deductible against your rental income.
Although it is the tenant who may be in a position where they are unable to make rent payments, it is up to the landlord, not the tenant, to take out rent guarantee insurance. This insurance is protection for a landlord’s rental income, and therefore they will be the ones making the claim.
The features of our cover include:
- Rent arrears covered up to £2,500 per month
- Legal expenses for the recovery of your property
- The acceptance of all tenant types
As long as you have obtained satisfactory references for each tenant or guarantor, before the tenancy agreement started, you may be eligible to take out this cover with us. Find out more and obtain a quote here.