Rent Protection & Legal Costs Insurance

Landlords – Protect your rental income!

We offer the Keysafe Insurance Services ‘Landlords Legal Costs & Rent Protection’ insurance policy that is designed to cover landlords wishing to protect themselves against non-paying tenants and associated costs to remove the tenant from the rented property if applicable.

This policy is only available if each named tenant has passed a tenant reference with Keysafe Tenant Vetting. Please see ‘Referencing Criteria’ for further details.

Policy Features

The main benefits of this Rent Protection & Legal Expenses insurance are:

Indemnity Limit of up to £10,000 per claim for Legal Costs
Rent arrears covered up to £2,500 per month
Rent arrears paid for up to 6 months or until maximum Indemnity Limit of £10,000 is reached
Specialist panel solicitors appointed to recover rent arrears
Professional Legal Advice Helpline
Pursuing costs of replacing missing or damaged items listed in a dilapidation inventory that exceed £250 in value.
Rent Arrears paid until expiry of policy, tenancy agreement, vacant possession or indemnity limit reached, which ever happens soonest
Excess only 1 month rent arrears.
6 or 12 Month Policies Available.
Buy Online 24/7

Please refer to the Rent Protection - Policy Summary (145.62 KB) and Rent Protection - Policy Wording (29.42 KB) for details of the full policy benefits & exclusions along with full terms and conditions prior to making your purchase.

Eligibility

Eligibility for Rent Protection & Legal Costs Insurance

Each and every tenant (excluding children) plus any guarantor must have successfully passed a full tenant reference with Keysafe Tenant Vetting.
The tenancy agreement must not have started before the tenant reference pass date.
The tenants must not have moved in prior to the tenant reference pass date.
The tenancy agreement must start no more than 60 days after the tenant reference pass date.
Your property is let under an Assured Shorthold, Company Residential (Company Let) or a written Common Law Tenancy Agreement within England or Wales for a fixed term no greater than 24 months.
Tenancy Agreements greater than 12 months must contain a 6 or 12 month break clause.

Referencing Criteria

Tenant Referencing Criteria

Each and every tenant (excluding children) plus any guarantor must have successfully passed a full tenant reference with Keysafe Tenant Vetting. We no longer accept tenant referencing from any other provider.

CLICK HERE TO ARRANGE A KEYSAFE TENANT VETTING REFERENCE

Please note that if a prospective tenant passes a reference subject to certain additional requirements or with recommendations (i.e. a higher deposit is collected or a Guarantor is assigned to the agreement), these recommendations / caveats must be complied with throughout the term of the tenancy to validate your cover.

Premiums

How much does this Rent Protection & Legal Expenses insurance cost?

Product Type	Premium (inc. Insurance Premium Tax)
Rent Guarantee & Legal Expenses – 6 months	£75.00	Buy
Rent Guarantee & Legal Expenses – 12 months*	£120.00	Buy

* only available where the tenancy agreement is for a fixed term of 12 months or more.

The premiums quoted above include Insurance Premium Tax (IPT) of 6% which applies to insurance policies instead of VAT. They do not include the cost of tenant referencing for which you are responsible.

Making a claim

How to make a claim

Our aim is to provide an excellent claims service at all times. Subject to your claim form and supporting documentation being submitted to the claims team within 45 days of the insured event, the legal team will take over and attempt to resolve the issues with your tenant(s) or arrange eviction proceedings if necessary.

The insurer will decline any claim where the claim form and supporting documentation has not been returned within 45 days of the dispute / default.

A claim form can be obtained from ARC Legal’s website using the following login details:

Username: lergpolicy
Password: landlords

Click here to go to Arc Legal’s website

Alternatively:

The Insured or his agent should telephone 0844 770 1079. A claim form will be sent out by email, fax or post within 24-hours. The claim form is required to be completed and returned to Arc Legal directly along with supporting documentation within forty five days of the insured event.

FAQs

Frequently Asked Questions

Do I have to use Keysafe Tenant Vetting to reference my tenant(s)?

Yes, we do not accept tenant referencing from any other provider.

The Tenancy Agreement is renewed on a month by month rolling basis after the initial 6 months. How does this affect claims for unpaid rent if the tenant defaults after the initial 6 month period?

Rent arrears will be paid up to the expiry of the eviction notice (arranged by the claims department) up to the end of the policy or when vacant possession has been obtained, whichever event occurs first.

Should I take out this policy at the commencement / renewal of the Tenancy Agreement?

Ideally Yes. If the Tenancy Agreement commenced or was renewed more than 14 days prior to the start of the policy you cannot make a claim within the first 3 months of the policy.

What types of tenant are acceptable for Rent Protection & Legal Costs Insurance?

Working Persons as long as the Tenancy Agreement is directly between landlord and tenant and they have successfully passed a tenant reference from Keysafe Tenant Vetting.

I have collected a deposit of 6 weeks rent and my tenant has defaulted, does my excess increase from 30 days to 6 weeks?

Yes, however should you find damages to your property once vacant possession has been obtained, we will reduce the excess to 30 days and pay you rent arrears for the period from the 31st day to the end of the 6th week.

My tenant has an outstanding CCJ, does this make a difference?

Tenants with outstanding CCJ’s or CCJ’s that have been satisfied within the last 3 years are unacceptable for our legal costs & rent guarantee insurance unless they have passed a tenant reference from Keysafe Tenant Vetting. Please note that it is highly likely that they will only pass if a Guarantor is also assigned to the tenancy agreement and that Guarantor must also pass a reference from Keysafe Tenant Vetting.

If you have any other questions about Rent Protection and Legal Costs insurance then please call our Landlords Insurance Team on 0118 970 3777 (Lines open 9:00am to 5:00pm, Monday to Friday) or send us a message.

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