In the current uncertain economic climate, with the cost of living increasing and the number of rent defaults also continuing to rise, Landlord Legal Expenses & Rent Guarantee Insurance (sometimes referred to as Rent Protection Insurance) helps to give you peace of mind knowing that, if your tenant fails to pay their rent, you’re protected.
As a landlord you’ll know that there are always risks involved in renting out your property. If these risks result in the need for legal action, costs can very quickly escalate. Landlords’ Legal Expenses Insurance is designed to cover the costs of professional fees, in the event that a tenant falls in to rent arrears or breaches their tenancy agreement.
What does Legal Expenses & Rent Guarantee Insurance cover?
Available as an addition to our Landlord Insurance policy, cover includes:
- Breach of tenancy agreement insurance – This will help to cover the costs of professional fees relating to the pursuit of a tenant, if they breach any of their obligations in their tenancy agreement. Up to £50,000 cover is available per claim.
- Pursuit of rent arrears insurance – Covering you against costs associated when pursuing rent arrears which commenced during the period of insurance.
- Rent arrears guarantee insurance – Covering rent arrears owed by the tenant up to £2,500 per month (subject to a maximum of 6 or 12 months, dependent on the policy you choose).
- Eviction – Costs relating to the eviction of anyone that is in the property without your permission.
- Legal defence – Covering the costs of the defence of civil or criminal proceedings in respect of any act or omission by you arising from your ownership or management of the property.
Why choose Lansdown Insurance Brokers?
With over 50 years’ experience, we’ve built a reputation for first-class customer service and guarantee you an expert, personal service. We’re specialists in Landlord insurance, Block of flats insurance, and Business insurance. We provide flexible policies to suit your needs and our experts will provide advice on what cover you need. You’ll always talk to the same person when you call and will be treated fairly by us at all times.
Get in touch with our experienced team to get a competitive quote today, call us on 01242 524498.