Whether your customers have one property or several, we can help.
Speak to our Sales TeamWhile being a landlord can be an effective way of investing money, it is not without its problems. Unfortunately, all landlords are exposed to the risk of a tenant falling behind with their rent, refusing to leave at the end of a tenancy, or causing damage to the property.
Issues like recovering rent arrears or evicting tenants can be both stressful and complicated to deal with. We can offer your landlord customers effective solutions to these kinds of issues with our range of products tailored to their needs.
Also available: Landlord Emergency
Responding to emergencies such as burst pipes and heating breakdowns in rented property can also be expensive and time-consuming to deal with. Our Landlord Emergency Insurance offers landlords and tenants’ peace of mind, with round-the-clock repairs, labour, and call-out fees covered by a contractor.
Also available: Rent Guarantee
We also offer Rent Guarantee, ensuring that landlords are protected if tenants fail to pay rent, meaning customers can maintain cash flow and manage legal disputes efficiently and with ease. This product is sold alongside a Landlords Insurance policy on either an opt-in (where the customer pays a premium for the product) or mandatory basis (where the cost of this cover is already included in the main product premium) or as a stand-alone policy.
Recovery of rent
Our landlord insurance policyholder contacted us after their tenant failed to pay rental income for three months and then vacated the rental property. Despite our insured pursuing the tenant for payment, they were unable to get any response. We approved the insurance claim under their rental property insurance, which includes loss of rental income coverage, and passed the matter to a panel solicitor. They were able to negotiate a payment plan with the tenant, who was experiencing financial losses and cashflow issues. The insured received repayment plus interest over the following six months. ARAG settled the legal fees incurred by the solicitor.
Repossession
Our landlord insurance policyholder contacted us for legal advice after their tenant fell into arrears and continued to ignore reminders for rental income payment. We directed our insured to our landlords’ legal services website to download the necessary legal notice requiring the tenant to quit the rental unit. Unfortunately, the tenant ignored the legal notice and the matter escalated. We instructed solicitors to obtain a court order for repossession of the rental property and paid the solicitor’s costs and the court fee, as covered under their policy.
Rent indemnity
As the insured had complied with the insurance policy terms, we agreed to pay the rental income arrears that had been incurred while repossession of the rental property was being sought, together with 75% of the loss of rental income for a further two months following repossession. This support was provided under their landlord insurance policy.
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