16 October 2008

Rent Guarantee Insurance

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Key Points

• Rent Guarantee insurance is surprisingly inexpensive and is an absolute must for those landlords with mortgage commitments.
• Covers your rent due up to £10,000 per claim (subject to a maximum of £2,500 per month) and minus the excess of one month's rent*.
• Rent cover continues until expiry of the tenancy agreement or expiry of your policy or when you gain vacant possession of your let property, whichever comes first.
• Also covers up to £25,000 Landlord's Legal Expenses for advisor's costs in proceedings against tenants, including eviction, subject to the amount in dispute exceeding £250 including VAT.
• Also includes a 24 hour legal helpline providing an advisory service on any legal problem of concern to you in connection with your let property.
  

Quote: "You don't need to pray to God any more when there are storms in the sky, but you do have to be insured." Bertolt Brecht 1898-1956

£25,000 Landlords Legal Expenses & £10,000 Rent Guarantee Insurance - only £131 (£116.56* with a TenantVERIFY Comprehensive Check) for 12 months

We have chosen the LandlordCare policy for our rent guarantee recommended insurance which offers excellent value for money cover and is underwritten by one of the UK’s leading insurance companies, AXA Insurance.

The Main LandlordCare Policy Benefits are:

• Legal Costs Covered up to £25,000
• Free Legal Helpline
• Rent Arrears Covered up to £10,000 (£2,500 monthly limit)
• Excess Only 1 Month’s Rent Arrears (or sum of deposit if higher)

The LandlordCare policy is designed to be purchased to start with the commencement of a new Tenancy Agreement which must start no more than 31 days after the Tenant Reference. If you purchase a policy more than 14 days after a Tenancy Agreement has started, there will be no cover for the first 90 days unless you are switching from an alternative policy.

Upon receipt of a successful Comprehensive Search & Referencing with Risk Assessment (TenantVERIFY Comprehensive or Fast Comprehensive) for each of your tenants & guarantors (if applicable), you are eligible to purchase the Landlords Legal Expenses & Rent Guarantee Insurance for a discounted premium of only £116.56* for 12 months cover.

Claims Procedure:

Subject to your claim form and supporting documentation being submitted to our claims team within 45 days of the insured event, the legal team will take over and attempt to resolve the issues with your tenant(s) or arrange eviction proceedings if necessary.

This policy will pay the legal costs directly to the appointed solicitors and pay you the rent arrears until whichever of the following events occur first:

a) Expiry of the Tenancy Agreement
b) Expiry of the Policy
c) When Vacant Possession of your Let Property has been Obtained
d) When the £10,000 indemnity limit has been reached.

For further details including full terms & conditions, please view or download the Summary of Cover, Policy Wording & Terms of Business.

The total premium is £116.56* This includes Insurance Premium Tax at 5% (IPT).

The Key Facts
The Policy
The Borkers/Underwriters' Terms of Business

I confirm that I have read and understood the Summary of Cover & Terms of Business.

Clicking the link below will take you directly to a secure application form where upon completion you will be required to make your payment of £131.00. To get your insurance at the discounted price of £116.56 go to TenantVERIFY.co.uk

All information on this page has been provided by our partners JBI International Insurance Brokers Ltd (JBI). JBI are Authorised and Regulated by the Financial Services Authority under registration number 308981 JBI International Insurance Brokers Ltd. Registered in England - Reg. No. 1936834. Registered Office: Andromeda House, Aldermaston, Reading, Berkshire RG7 8AP United Kingdom.

*If your tenancy agreement commenced prior to the inception of this policy the excess increases to 3 months rent, unless you are switching to JBI LandlordCare from an alternative legal expenses and rent guarantee insurance provider.

* £116.56 is the price with a TenantVERIFY® Comprehensive Check.

Related Topics

• TenantVERIFY.co.uk
• The Key Facts
• The Policy
• The Borkers/Underwriters' Terms of Business