In the face of increasing tenants’ rights and delays in repossession times and the resulting rent arrears, Legal Expenses and Rent Guarantee Insurance is of growing importance to residential landlords.
In the current market, many rent guarantee products provide broad levels of coverage – sustained by higher premiums first introduced during COVID when tenant evictions were banned, and courts were closed.
Today, landlords require more choice with straightforward and affordable protection to mitigate the risks the new era the private residential sector faces.
Rent Protect is Addept’s solution to the protection needs of residential landlords in today’s rental market.
Rent Protect ‘Essentials’ is a low-cost alternative Legal Expenses & Rent Guarantee Insurance providing the core levels of cover needed to enable landlords to protect themselves against unpaid rent and the legal fees associated with the eviction and repossession of their property.
Rent Protect ‘Essentials’ provides:
£50,000 cover limit per insured event for repossession and eviction of squatters.
Up to £2,500 per month to cover rent arrears for a maximum of 12 months.
Available: -
as an add-on to a landlord’s buildings insurance policy, or
on a standalone basis, or
to letting agents seeking to reinsure a rental warranty they have provided to their landlords under their management service
24-hour Legal Helpline providing advice on any legal matter relating to residential landlord activities.
For landlords looking for a broader range of benefits, Addept will shortly be launching Rent Protect ‘Comprehensive’ which will include a range of additional features including, for example: automatic enrolment to Title Guardian, Identity and Cyber Protection and insurance against unexpected fees dealing with tax and general property issues.
Addept has extensive experience and expertise in the design and development of ancillary insurance solutions to support residential landlord clients. Rent Protect is an important addition to our solutions addressing the needs of individual and portfolio residential landlords.
