Your tenants are a dream. They’re reliable and always pay their rent on time.
But what if that stopped? What if the unexpected happened and there’s a change in their circumstances or worst case, you need to evict them? This isn’t something a landlord wants to consider, but unfortunately, it’s something you have to be prepared for.
Here are just five reasons why having rent guarantee insurance will give you peace of mind that your rental income is safe…
1. Unpaid rent covered for a year
Most rent guarantee insurances (including the one we offer here at Clarendons) will cover your monthly unpaid rent for up to a year should your tenants not be able to pay.
2. Legal dealings & expenses are dealt with
As well as covering rent, a large amount of insurance policies will also cover your legal expenses should you need to evict your tenant. As part of this, eviction notices will be served on your behalf and agents will be able to attend court hearings if required.
3. No Excess!
That’s right, should you need to use your cover, with our policy there is no excess to pay on any claim with our top-rated insurance underwriter.
4. Continuous peace of mind
The great thing about having a policy is that it will automatically renew every year and you will be covered 365 days a year. If there is ever any price change, we will of course run it by you first.
5. Finally, know the difference with your insurances
As a buy-to-let landlord you will have to have a landlord insurance to cover your property should there be any damage to the property or unpredictable events. This however is different to the rent guarantee insurance, so make sure you are sufficiently covered for both the property and rental income.
Feel free to contact our team at Clarendons to find out more https://www.clarendons.uk/contact-us/
