Rent & Legal Protection Insurance

Earlier this year, the insurers we work alongside instructed a temporary suspension of sales and renewals of their rent and legal protection insurance.  This was then replaced with two temporary insurance products, RLP Bridge 1000 and RLP Bridge 2500.

These products were always intended to be a temporary solution to ensure cover could continue during a difficult period.

The great news is a new and more robust product is now available!  This provides high quality cover with fair and equitable pricing.

At a glance the new rent and legal insurance provides the following:

• There is no cap on the monthly rental value that can be covered, subject to the policy claim limit
• There is no excess to pay
• Legal expenses can be claimed up to the full policy claim limit
• Post-vacant possession cover is now available once again, where 75% of rent is covered

In more detail the new policy provides the following:

	New Rent & Legal Protection
Covers rent arrears up to	No limit
Claim limit	£75,000
Rent arrears covered	100% of the rent for up to six months, or until vacant possession, whichever is first
Excess	Nil excess for all claims
Eviction of tenants	Up to claim limit
Eviction of squatters	Yes
Legal costs to pursue the tenant for property damage	Yes
Legal costs to pursue the tenant for rent arrears	Yes
Legal costs to pursue the tenant for property damage	Yes
Legal defence for the landlord	Yes
Post-vacant possession cover	75% of rent for a maximum of two months if tenant damage means the property cannot be immediately re-let
Covers	Any breach of tenancy, including anti-social behaviour
Claims exclusion period	90 days unless there has been continuous rent protection and legal expenses insurance in place since the start of the tenancy
Free telephone helplines	Yes

If you would like some more information on the new product, please do feel free to get in touch.