Rent guarantee for tenant?

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    Rent guarantee for tenant?

    Hi I've just had an email off my tenant to say he forgot to renew his insurance which included rent guarantee I'm a bit confused as I thought only the landlord insured against this, is this correct?

    Thanks

    #2
    A tenant could take out income protection insurance so if they were unable to work due to illness/injury they would still be able to pay their rent. Not exactly a rent guarantee policy but the only cover I can think of that a tenant could take out to assist with their rental payments.

    Some tenant's contents insurance policies provide cover for rent that the tenant is legally liable to pay if the home becomes uninhabitable following an incident covered by the contents policy but any example I can think of would also affect the buildings so the landlord's buildings insurance would come into play to provide loss of rent cover.

    Ultimately, only the person receiving the rent (i.e. the landlord) can take out a rent guarantee insurance policy.
    Steve Smith - Company Director at a leading Landlord Insurance broker with 20+ years experience in the industry
    LandlordZONE Verified Poster and Topic Expert for Landlords Insurance since 2009
    See my profile for contact details

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      #3
      Hi ash
      Yes that's what I thought Aswell I've sent him an email explaining what you have said hopefully I'll get it sorted thanks very much.

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