Protecting landlords in case of problems with tenants, Landlord Legal and Rent Protection cover is offered alongside or automatically included within a landlord insurance policy through a broker or insurer scheme and can also be provided via specialist letting agencies. Elements of the policy are as follows:

Repossession

  • Pursuit of a claim to gain vacant possession of the insured property from the tenant.

Rent Protection

  • Covers the amount of uncollected rent owed to the policyholder, provided that we have covered a claim for Repossession.
  • Rent is payable for up to 5 or 11 months (depending on whether the tenancy agreement was for 6 or 12 months) until vacant possession is obtained, but not including the first unpaid month’s rent.
  • 50% of the rent is also payable for up to 3 months if the insured property needs to be repaired and cannot be immediately re-let due to damage or neglect caused by the former tenant.
  • Cover is subject to a suitable tenancy agreement being in place and satisfactory credit reference checks having been made on the tenant.

Rent Recovery

  • Pursuit of a claim to recover rent arrears owed to the policyholder by the tenant or former tenant of the insured property.

Alternative Accommodation and Storage Costs

  • Accommodation and/or storage costs arising whilst the policyholder is unable to regain possession of the insured property, which is being repossessed for the policyholder to live in.

Damage to Your Property

  • Pursuit of a claim following damage to the insured property, including dilapidations.

Nuisance and Trespass

  • Actions following nuisance or trespass relating to the insured property.

Defence of Criminal Prosecutions

  • Defending the policyholder’s legal rights in criminal prosecutions arising from their letting of the insured property.

Contract Disputes

  • Disputes arising from the buying or hiring in of goods or services relating to the insured property.

Tax Enquiries

  • Representation in an investigation by HMRC into the policyholder’s personal tax affairs.

Witness Expenses

  • The policyholder’s lost salary or wages whilst attending court as a witness in a claim under the policy.

Personal Legal Advice Helpline

  • Advice over the phone on any personal legal problem under the laws of the UK, Isle of Man or the Channel Islands.

Personal Tax Advice Helpline

  • Advice over the phone on personal tax matters under the laws of the UK, Isle of Man or the Channel Islands.

Contract Disputes

  • Disputes arising from the buying or hiring in of goods or services relating to the insured property.

Counselling Helpline

  • Telephone counselling on matters causing distress and anxiety.

Limit of indemnity

  • The standard limit of indemnity is £50,000 per claim for legal costs and rent protection.
  • Accommodation costs have an inner limit of up to £175 (including VAT) per day for a maximum of 30 days.
  • Storage costs have an inner limit of up to £15 (including VAT) per day for a maximum of 30 days.

Territorial limit

  • The cover applies for tenancies in England, Wales, Scotland and Northern Ireland.

 

For more information, please see the Landlord Legal and Rent Protection BTE Product Key Facts Sept 16