Rent Guarantee & Legal Expenses
Rent Guarantee and Legal Protection Insurance protect the Landlord’s Rental Income if a tenant suddenly stops paying the rent.
The insurance covers Rent up to £2500 pcm; and legal expenses up to £50,000!
The insurers will handle all of the legalities from start to finish if you need to evict a tenant, trace an absconded tenant, or if you are involved in a Right-to-Rent compliance challenge.For Pricing - see Rent Guarantee Prices
How it Works
- You process a TenantVERIFY® Comprehensive Check for each adult tenant.
- Each tenant must pass the Checks with 2 positive references.
- You have obtained copies of 2 ID documents one with photo, for each tenant.
- You apply and pay using the TenantVERIFY® online form.
- Your policy will be forwarded to you the same day - from then on you are covered.
- Your rent continues to be paid when the tenant can't or won't pay.
- Your eviction process will be paid when a tenant can't or won't pay.
- You are protected against legal claims of up to £50,000.
- You are covered against Right-to-Rent legal challenges.
Key Features - one policy per property
- 6 or 12 months policies available.
- Payment of rent arrears.
- Obtaining a court date and Possession Order.
- Handling & payment of legal & professional costs.
- Payments will continue to be made beyond the policy expiry date in the event of an on-going claim. (subject to policy limits)
- Full Insurance Cover underwritten by leading UK Insurers.
- All rental property types (excluding HMO's).
- All tenant types can be covered (excluding local authority referrals & asylum seekers)
- Also available in Scotland (meets Scottish legislation).
- Legal Expenses - The insurers will negotiate for your legal rights:
- You are covered if you are legally challenged by the Authorities due to the new Right-to-Rent scheme.
- Defends your legal rights if an incident arising from you letting your property leads to you being prosecuted in a criminal court - up to £50,000.
- Hotel Expenses - up to £50 per day up to a total of £1,500 towards your hotel expenses.
- Your tenants must pass a TenantVERIFY® Comprehensive Tenant Check including 2 positive references and an “Accept” overall score.
- You must provide 2 forms of tenant ID for each adult tenant and one of these must include a photo - a copy of a driver's licence or passport for example.
- You must inform the insurers immediately you become aware of any event which could give rise to a claim, including within 7 days of a missed rent payment.
See the policy document for details of cover and the full terms and conditions
Please note we are not authorised to provide advice or arrange insurance directly. However, we can arrange this Rent Guarantee and Legal Protection Insurance for you by passing your details to our recommended insurers: Insure Me 4 Less Ltd, who are authorised and regulated by the Financial Conduct Authority and specialise in this type of insurance.
Parkmatic Securities Ltd trading as TenantVERIFY®