Rent Guarantee, Legal Expenses & Home Emergency Assistance @ £99
It does not matter if you own one property or manage a portfolio, your rental income could be a streamline for your earnings or simply covering the mortgage repayment on an investment for your future.
When a tenant fails to pay their rent, you are suddenly in a situation that can leave you out of pocket or even finding yourself unable to meet your mortgage repayments. With this policy we aim to provide you the opportunity to be at ease knowing that neither of these two occurrences effect you in such a way.
One leading provider paid out £2.7 million in 2007, £2.8 million in 2008 and £3m in 2009, which was an increase of over 7 per cent.
With the number of buy to let landlords in the UK reaching 1 million, why risk becoming one of the estimated 1 in 3 who have tenants in arrears?
Who is the insurer?
This insurance policy has been arranged by Qdos Broker & Underwriting Services Limited with UK General Insurance Limited on behalf of Ageas Insurance Limited.
What does it cost?
To obtain cover for a period of twelve months, the policy will cost £99.00 including Insurance Premium Tax (9.5%)
* This quoted figure and any subsequently offered cover is subject to compliance with all of the * Statement of Facts and will form the basis of any contract entered into with the insurers
Discounts are available when purchasing multiple policies
What does it cover?
Legal Expenses up to £25,000
The monthly rent shown in the tenancy agreement and the Policy Schedule up to a maximum of £2,500 per month. The maximum rent payable per claim is £10,000 or the equivalent of six months’ rent, whichever is the lesser amount
Home Emergency assistance up to £500.00 incl VAT any one claim
* Please read the policy key facts and policy wording booklets for full details, which will be sent to you with the formal quotation for clarification purposes
What referencing is required?
It is a condition of the insurance that a tenant reference must be obtained prior before the insured allows the tenant possession of the insured property.
It is a requirement of this policy that the insured presents the following information in the event of a claim:
For Professional Lets ONLY
- Two forms of identification from the tenant, one containing a clear photograph.
- Confirmation of employment.
- A credit check, clear of CCJ’s, at the start of the tenancy.
For Professional, Student and/or DSS Lets
- A full tenant reference from an approved referencing company.
Who can I obtain the referencing from and how much do they charge?
The policy stipulates that you must use a professional organisation who provide tenant referencing, we do not recommend a credit check or referencing company.