Rent Protection Insurance
Before buying rent protection insurance, ensure you meet all legal requirements for renting a property and have the required documents to hand.
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You will need to be able to provide evidence of the following:
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Affordability Your tenant needs to earn at least two and a half times the monthly rental amount (three times, if self-employed). This income can be from working income, benefits, pensions, or a combination of all three. Evidence of this income should be obtained (e.g., bank statements, pension statements, or proof from an accountant).
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A credit check clear of CCJs, bankruptcies, or IVAs tenants need to be clear of IVAs, CCJS, and bankruptcies for at least three years.
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Proof of identification We need two forms of ID to confirm the tenant’s identity, one of which needs to include a photo. We usually suggest a passport or driving license along with a utility bill.
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A legal tenancy agreement A legal tenancy agreement must be in place at the time of making a claim; if this is not the case, the policy will be void.
The Rent Protection Insurance policy also requires that these documents are provided to your tennant:
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How to Rent guide
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Gas safety certificate
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EPC
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Deposit prescribed information (if taken)
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For a Rent Protection Insurance policy to be valid, your tenants must be satisfactorily referenced using two forms of ID, one of which needs to be photographic. We will also accept evidence they have passed the right to rent as proof of identification.
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What is rent guarantee insurance?
Legal expenses coverage
Get ready to protect your rental income with our fantastic rent guarantee insurance! This incredible policy safeguards landlords against the loss of rental income when tenants face difficulties making payments. Plus, it includes legal expenses coverage, ensuring you have up to £100,000 for legal costs related to regaining possession of your property, including eviction and expert legal advice!
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So, who should consider rent guarantee insurance?
It's perfect for anyone facing financial strain if their rental income suddenly stops. Even the most reliable tenants can encounter tough times, making this insurance an innovative and valuable safety net for your peace of mind.​
While rent guarantee insurance is not legally required, it's highly recommended if you depend on that rental income.
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Cover up to £2,500 in rental income per month
Purchase our rent guarantee insurance (or rent protection insurance) and get peace of mind when renting your properties.
Our rent guarantee insurance policy also comes with legal expenses as standard so that you can get rent protection if a tenant defaults. Any legal expenses you may face, such as costs for evicting a tenant, are covered.
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Cover up to £2,500 in rental income per month.
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Hotel Expenses - Up to £50 per day up to the limit of cover for hotel expenses where no alternative accommodation is available to you whilst you try to gain possession of your property to live in.
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Landlord legal expenses helpline 24/7.
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Full landlord legal expenses up to £50,000 (including eviction costs) to help with:
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a) Negotiate your legal rights after an incident of physical damage to your property.
b) Negotiate your legal rights to try to get possession of your property following a breach of the tenancy agreement.
c) Negotiate your legal rights to evict anyone who is not permitted to be on your property.
Policy Downloads
Frequently
Asked
Questions
Is renters insurance worth it in the UK?
If you're renting a home, renters insurance – also known as contents insurance – can provide cover for your personal belongings. Covering the cost of replacing all your possessions if they are stolen or damaged could run into thousands. Having contents insurance means you won't be left out of pocket if things go wrong.
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What is rent guarantee insurance in the UK?
Rent Guarantee Insurance covers unpaid rent after correctly serving an eviction notice to repossess your residential property. Purchased as part of Legal Expenses add-on at new business or renewal. Restricted claims for existing tenants in the first 90 days after purchase.
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What insurance do landlords need in the UK?
Standard landlord insurance policies typically start with building insurance and property owners' liability insurance. These cover the cost of repairing or rebuilding your property and cover any personal injury to a tenant or visitor.
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Is it worth being a UK landlord?
Good long-term return on investment
If you're a new landlord, it's important to remember that becoming a landlord is not a get-rich-quick scheme. It may take some time before you see a significant return on investment, but it's certainly worth it for the long-term results
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What will you most likely need to insure as a landlord?
The core coverages of landlord insurance include property damage, liability protection, and rental income lost due to a tenant's inability to rent. Additional riders—or add-ons to policies—can be purchased to cover income lost when a tenant misses a rent payment and flood damage.
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What is the most a landlord can raise rent in the UK?
There isn't a specific limit on how much a private landlord can increase the rent. Yet, the increase must be fair and reasonable. To determine a fair rent increase, you should consider changes in the local rental market, inflation rates, and the condition of the property.​​
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What is the renters rights bill in the UK?
The Renters' Rights Bill will: Abolish section 21 evictions and move to a simpler tenancy structure where all assured tenancies are periodic – providing more security for tenants and empowering them to challenge poor practice and unfair rent increases without fear of eviction.
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What is a protected tenancy in the UK?
Private tenancies that meet certain criteria are called protected tenancies. You can only charge a fixed rent for this type of tenancy. You may find it hard to end a protected tenancy. A protected tenant may be able to pass on their tenancy when they die.
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What does a landlord legally have to provide UK?
As a landlord you must: keep your rented properties safe and free from health hazards. make sure all gas equipment and electrical equipment is safely installed and maintained. provide an Energy Performance Certificate for the property.
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What is the rent control policy in the UK?
The mechanisms for regulating prices (historically called "rent control"). Since the Housing Act 1980 (c. 51), prices are generally left for landlords to fix except in the "affordable" sector where councils and housing associations manage around 4.4 million homes which are subject to rent regulation.
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​Do you have a question about rent protection insurance?
Submit your question here