Rent guarantee insurance (also called tenant default insurance) can step in to cover your rental income if your tenants stop paying their rent.
With thousands of tenants going into arrears each year, rent insurance can provide landlords with peace of mind and valuable back-up.
As long as you’ve performed all the necessary credit and background checks on your tenants, our landlord rent insurance can cover your monthly rent up to a maximum of £2,500 a month for up to eight months, once the tenants haven’t paid for at least two months.
Landlord rent guarantee insurance from Simply Business also comes with legal expenses insurance, which can cover legal fees up to £50,000 if you go to court to repossess your rental property or pursue unpaid rent, for example. To add rent guarantee insurance to your landlord policy, choose tenant default when you’re selecting your covers.
Start your quoteRent guarantee insurance is another name for tenant default insurance, which can cover your rental income for a certain period if your tenants fail to pay their rent.
These are some of the key details:
For rent guarantee insurance to be paid, these conditions must be met:
Bear in mind that your rent won’t be covered in other circumstances, for example if you’re not receiving rental income because you have a gap between tenants, or because your property is undergoing renovations.
The cost of rent guarantee insurance will vary depending on the particulars of your policy. To get an exact price, run through our quick online quote form and choose tenant default insurance when selecting your covers.