Rent Guarantee Insurance - Recommendations

[Ham_and_Jam]

Calling all Landlords. Have you any recommendations for rent guarantee insurance, or ones to avoid.

I usually use Rent Guard, for references and RGI. However they seem to have withdrawn the RGI product due to CV19.

I’m looking to insure against missed rent from tenants (for any reason), on a standard private AST, plus legal and associated costs for eviction including issuing statutory notices etc.

[MOMACC]

Some insurers provide this as an extension to their property owners policies.

Speak to your broker for some advice.

[dalenorth]

We have this as an addition within our Landlords policies. Drop me a pm if you want one of the advisers to advise you.

[Ham_and_Jam]

dalenorth said:

We have this as an addition within our Landlords policies. Drop me a pm if you want one of the advisers to advise you.

Can you purchase RGI from your company as a stand alone policy? I don’t need buildings or contents insurance.

I’m purely looking to insure against the tenants not able / willing to pay the rent, not because the rent won’t be paid because the building is inhabitable.

[cs174]

I use CIA Insurance for the Building insurance on our BTL's. Really competitively priced but I haven't had to make a claim yet so dont know how good they really are. They also do Landlord RGI. Might be worth a try.

[dalenorth]

Ham_and_Jam said:

dalenorth said:

We have this as an addition within our Landlords policies. Drop me a pm if you want one of the advisers to advise you.

Can you purchase RGI from your company as a stand alone policy? I don’t need buildings or contents insurance.

I’m purely looking to insure against the tenants not able / willing to pay the rent, not because the rent won’t be paid because the building is inhabitable.

Sorry just add ons

[LFB531]

Never having had to claim (touch wood etc!) so can't comment on how fast they pay up but we use this lot through the business;

https://homelet.co.uk/landlord-insurance/rent-guar...

They'll want to reference and pass the tenant. Private landlords I think get about 6 months of cover plus legals etc.

As an agent, we get c.15 months and as the policy is in our name, we pay the monthly premium then re-charge the landlord. It adds about 2% to the regular management charge on our average rental of about £1000 per month (and before anyone pipes in with a smart comment, we pass it on at cost!)