Landlord rent guarantee insurance

Rent protection insurance for landlords

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.

Rent guarantee insurance from Simply Business

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 for up to 12 months, from your tenant’s first missed payment.

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.

What is rent guarantee insurance?

Rent 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:

• you're covered for up to £50,000, with no monthly rental limit
• rent can be covered for up to 12 months
• there’s no excess
• you also get up to £50,000 of legal expenses cover

For rent guarantee insurance to be paid, these conditions must be met:

• tenants must have passed background and credit checks
• tenants must have failed to pay rent
• you must have filed the correct paperwork to demand the rent
• you must have begun legal proceedings against your tenant
• you must let us know about any issues as soon as possible
• if you’ve never had legal expenses cover before, or have a gap in your cover, there’s a 90 day waiting period before you can make a claim

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.

How much does rent guarantee insurance cost?

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.

Why Simply Business?

• We're the UK’s biggest business insurance provider
• 9/10 ratings say we’re good (or excellent)
• 600,000 customers (and counting)
• Claims handled by an award-winning team
• Quote comparisons available from multiple insurers
• We run things from an expert, UK-based contact centre