Can I take out insurance for my rent?
Yes, you can. Rent guarantee insurance will cover you in the event that your tenant fails to pay the rent.
Without adequate protection, all landlords are exposed to the risk of rent defaults from their tenants, leaving the landlord with loss of rent. This is potentially damaging for a landlord, especially if there are mortgage commitments on the property.
Rent guarantee insurance – often combined with legal expenses cover – provides peace of mind in what would otherwise be a costly and stressful situation, helping you recover rent arrears.
Starting at just £53 per annum, Brokers Direct provide a comprehensive legal expenses product, which covers the landlord’s costs for disputes between themselves and their tenant, with rent guarantee insurance up to a maximum of £2,500 per month.
View our rent guarantee products.