Rent protection insurance

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

    Rent protection insurance

    I have been having difficulty to find a Rent Protection Insurance.
    Most insurers require to have professional tenant reference check.
    I rented the property but made my own reference checks.
    Does anyone know a suitable insurer?

    #2
    We deal with two main companies for Rent Guarantee Insurance. They, like every other insurer it seems, require a credit reference from a reputable/professional credit reference agency. However, one of these companies does allow for full time employed working tenants ONLY to bypass this rule but a 4 point check is required.

    The 4 point check requires (1) Identification from the tenant, containing a clear verified photograph, (2) Either a utility bill or a bank statement, (3) Credit check; clear of CCJ’s, bankruptcies & indicating confirmation of residency and (4) Confirmation of employment – a written employers’ reference on company letter headed paper confirming the tenant’s permanent and current employment and that their salary is at least a multiple of 2.5 of the tenant’s rent.

    This is obviously specific to our insurer in question and I have no idea if other companies follow suit on this. I would suggest using the LandlordZONE Insurance Directory for further assistance.
    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

    Comment

    Latest Activity

    Collapse

    • Newbie Landlord
      annam222
      Hi all,

      Sorry for a basic question. I am renting out my one bedroom flat for 12 months (rent and collect through an agent). Would someone mind telling me what insurance I need? Is it just a landlord insurance? I heard Which report may help?
      Many thanks
      Anna
      18-06-2019, 11:19 AM
    • Reply to Newbie Landlord
      leaseholder64
      Any lender with a loan secured on the property.
      18-06-2019, 12:30 PM
    • Reply to Newbie Landlord
      annam222
      Thank you very much. That is a good tip regarding "only let for a six month fixed term then let it go periodic", I did not realise I could do six months. I thought only 12 months minimum with break clause at six months.
      Sorry when you say "You only need what is required by your...
      18-06-2019, 12:29 PM
    • Reply to Newbie Landlord
      leaseholder64
      You only need what is required by your lender. That may be covered by the buildings insurance for the block, but make sure that that insurance covers sub-let flats. Anything else depends on your willingness to take risks.

      Landlord insurance is a packaged product so you need to look at...
      18-06-2019, 11:38 AM
    • Damage to Ceiling
      jessa46
      I've notified my insurer about the partial ceiling collapse. I don't know if it's due to water damage or just that that part of the ceiling was wek. The building was built in 1880s. The repair bill is - £88 for initial clean up, £500 for repair. Rather than claim through my insurer, can I claim against...
      16-06-2019, 11:06 AM
    • Reply to Damage to Ceiling
      JK0
      But won't flat above have same policy as you?

      Maybe you could ask them to pay the excess if any.
      16-06-2019, 17:15 PM
    • Balcony leak caused by a birds nest
      Dazvader
      First post. Please go easy folks.

      Recently I awoke to a loud, rapid tapping noise. It turned out to be a leak in a bedroom from the flat above. The small balcony above had a birds nest over a drain and water had risen up in the small area, deep enough to rise over the flashing and was pouring...
      15-06-2019, 07:52 AM
    • Reply to Balcony leak caused by a birds nest
      Macromia
      Is it really "obvious appropriate checks were not made"?

      If you were experiencing repeated leaks that were clearly a result of a single issue, and the leaseholder and/or resident of the flat above had been informed of the problem but not taken appropriate action, you might have...
      16-06-2019, 06:23 AM
    • Reply to Balcony leak caused by a birds nest
      Dazvader
      Sorry I wasn’t clear. There have been 4 leaks in total. The washing machine instance is the 3rd one which hasn’t and the 4th is being dealt with by the managing agent.

      I have read the link you mentioned, thanks for that. The sentence ‘A reasonable standard of behaviour would be to...
      15-06-2019, 11:10 AM
    • Reply to Balcony leak caused by a birds nest
      leaseholder64
      You said t"The first two were sorted by him to an unimpressive standard"); that is compensating you.

      People are only legally responsible to compensate you if they have been negligent, not just because they own the source of the problem. That means they have to have done something...
      15-06-2019, 10:43 AM
    Working...
    X