Is it worth getting rent protection insurance? (especially during COVID)?

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    Is it worth getting rent protection insurance? (especially during COVID)?

    I was wondering if insurers will pay out if a tenant stops paying rent and says that.....due to covid I cannot pay rent etc?
    My current understanding is that insurers may/will not pay out due to COVID.

    #2
    You would need to read the t&c's of the insurance provider to verify, I doubt anyone on the forum would be able to categorically provide a yes or no answer.

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      #3
      I've not bothered after receiving emails from my agents telling me they won't be paying up. Even recently I have been offered rent guarantee insurance that includes cover for Covid. But then they'll point out that another virus has a different name so is not covered!

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        #4
        There are a lot of reports, for years, of these wonderful cunning schemes inexplicably not paying out.

        I've never wasted my time or money on them.
        I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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          #5
          Get tenants with income insurance.

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            #6
            Income insurance probably wont pay out due to COVID either, lol

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              #7
              Originally posted by chirpatel View Post
              Income insurance probably wont pay out due to COVID either, lol
              Mine would, it has very few exclusions.

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                #8
                I bet it's got exclusions for acts of god or force majeure.
                When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
                Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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                  #9
                  Originally posted by jpkeates View Post
                  I bet it's got exclusions for acts of god or force majeure.
                  Just riots / civil wars and stuff where it's basically your own fault.

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                    #10
                    Originally posted by chirpatel View Post
                    My current understanding is that insurers may/will not pay out due to COVID.
                    It is not Covid-19 per se, but the requirement in policies that LL it taking legal action to end the tenancy.
                    With courts not hearing possession cases their argument is that legal action is not being taken.

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