Rent guarantee insurance
- Recurring
The short answer
Covers lost rent if tenants don't pay
- Price from
- £150.00
- Time on site
- 30 to 60 minutes
What you get
You will receive a tailored rent guarantee insurance quote and policy details from a regulated UK insurance broker.
- £150 to £400 a year
- Legal expenses cover is often included
When do you need a Rent guarantee insurance?
You should set up this cover before a new tenant moves into your property. Most insurers need the policy to start at the same time as the tenancy agreement.
- When your mortgage relies on rent
- Before a new tenancy begins
- If you worry about legal fees
- To protect against tenant job loss
- For extra peace of mind
- When laws on evictions change
What happens on the day
You do not need a site visit to set up this insurance cover. You can usually buy it online or over the phone in just a few minutes.
- Provide the signed tenancy agreement
- Show professional tenant reference checks
- Confirm the monthly rent amount
- Choose your policy start date
- Check the waiting period length
- Receive your policy documents digitally
How to prepare
- Run professional tenant credit checks
- Check tenant employment and income
- Collect previous landlord references
- Sign a written tenancy agreement
- Ensure the deposit is protected
- Verify the tenant identity documents
- Keep copies of all references
- Confirm the agreed rent amount
How to improve your result
- Use professional referencing services only
- Include a guarantor for students
- Keep records of all communication
- Review your policy every year
- Bundle with your building insurance
- Check for legal advice helplines
Why it is useful day to day
This insurance protects your investment from unexpected life events that stop tenants from paying. It stops a tenant's financial trouble from becoming your own financial crisis.
- Stops mortgage payment gaps
- Pays for expert legal help
- Manages stressful eviction processes
- Protects your personal savings
- Keeps your business running smoothly
- Reduces stress during late payments
Why we ask these questions
Prices vary based on the rent amount and how much legal cover you want. As a guide, expect to pay around £150 to £350 per year.
- Does it cover legal costs?
- How long does cover last?
- What are the excess fees?
- Does it cover all tenants?
- Are student tenants included?
- Is the policy tax deductible?
Frequently asked questions
Often needed alongside
- Recurring
Landlord insurance
Buildings, contents and liability for let property
Buy-to-let mortgage
Mortgages for rental property
Limited company buy-to-let
SPV mortgages for company landlords
- Recurring
Home (buildings) insurance
Buildings cover for owner-occupiers
- Recurring
Contents insurance
Cover for belongings
- Recurring
Commercial property insurance
Offices, shops, industrial units
- Recurring
Block & leasehold insurance
Buildings cover for blocks of flats
- Recurring
Landlord legal expenses insurance
Legal costs for possession and disputes