Total Landlord, the award-winning provider of specialist landlord insurance, is pleased to announce the launch of its new pet damage protection policy extension.
Designed to provide landlords with peace of mind ahead of the upcoming Renters’ Rights Bill (RRB), this policy offers financial protection against damage caused by tenants’ pets, both as a single incident and long-term wear and tear.
The introduction of pet damage protection comes at a time when pet ownership among renters is on the rise, yet landlords remain cautious about the potential risks.
According to a recent Total Property survey, 10% of tenants cite restrictions on pet ownership as one of the top challenges they face.
Recent disputes data from government authorised tenancy deposit protection provider, mydeposits, also highlights the growing financial risk that pets can pose to rental properties.
On average, settlements involving pet damage are 141% higher than those without (£1,520.24 compared to £629.92). In 35% of disputes involving pet damage, the cost of repairs exceeds the deposit protected, leaving landlords vulnerable to significant out-of-pocket expenses. As pet ownership among tenants is likely to rise following the new legislation, these figures highlight the need for reliable insurance policies that go beyond the traditional deposit system.
Total Landlord’s new pet damage insurance provides landlords with up to £2,500 per policy period for protection against pet-related damage to buildings or landlord contents to cover unforeseen losses.
Unlike many competitor products, which primarily protect against one-off accidental damage incidents, Total Landlord’s policy covers both gradual wear and tear specifically caused by pets, such as a dog or cat scratching at a carpet over time, thereby offering broader and more practical protection. The policy is available immediately to new and existing Total Landlord insurance customers as an ‘optional paid for’ extension to their Total Landlord insurance policy with plans to launch it as a standalone product in the near future.
To benefit from the pet damage cover, landlords will be required to take a traditional security deposit from the tenant and protect it with a government authorised tenancy deposit scheme, such as mydeposits, and make sure that a professional inventory/condition report has been prepared as part of the tenancy agreement.
Key features of pet damage protection:
- £2,500 cover per policy period for pet damage to buildings or contents if insured
- Includes cover above wear and tear such as scratching, as well as one-off incidents
- Covers up to three pets per residential premises
- Landlord-controlled policy, eliminating risks associated with tenant-purchased insurance
- Covers all domestic pets kept indoors, pet details are only required at the claims stage
- Affordable pricing at £134.40 (including IPT) per year per tenanted property
With the Renters’ Rights Bill set to introduce new provisions around tenants’ rights to request pets, landlords are facing increasing pressure to accommodate pet ownership.
Due to an amendment to the Bill, plans to allow landlords to require tenants to have pet damage protection insurance or ask their tenants to pay for it have been dropped.
While many similar policies on the market are taken out by tenants of their own accord, this approach introduces several risks. Without direct control over the policy, landlords may struggle to identify whether the cover is adequate, requiring them to scrutinise the policy (or multiple tenant-held policies if more than one property) for potential exclusions or gaps in coverage.
There is also a risk of the tenant’s policy becoming invalid if the tenant fails to disclose relevant information or makes false statements to the insurer.
Additionally, if tenants are responsible for paying the premiums, landlords have no way of knowing if payments lapse, leaving them unprotected. Since not all tenants disclose pet ownership, landlords may only become aware of damage at the end of the tenancy, at which point financial recovery becomes more challenging.
Finally, if a claim is successful, insurers would typically compensate the tenant rather than the landlord, making reimbursement uncertain and potentially difficult to obtain. By making sure that the landlord holds the policy, Total Landlord removes this uncertainty.
Eddie Hooker (pictured), CEO at Total Landlord, comments: “Our new pet damage protection policy is a direct response to landlord concerns in the evolving rental market. With deposits currently capped at five weeks’ rent and the government’s recent decision not to mandate tenant reimbursement for pet damage insurance, landlords are left exposed to additional risk.
"We understand the challenges that come with allowing pets in rental properties, and our policy offers landlords the financial security they need to confidently accommodate responsible pet ownership.”
In addition to pet damage protection, Total Landlord also offers a legal expenses and rent protection add-on, further reinforcing its commitment to innovating and adapting to support landlords in the wake of the Renters’ Rights Bill and the upcoming abolition of Section 21 evictions.
For more information on Total Landlord’s pet damage protection policy, visit: https://www.totallandlordinsurance.co.uk/pet-damage-protection
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