Rent Guarantee Insurance

Remove the risk and cost associated with
non-payment of rent.

Cover available for Single Lets & HMOs.

Why choose Rent Guarantee Insurance?

Even the best of tenants can experience sudden changes in their financial circumstances. Tenant references can vet someone’s past, they can’t predict their future. A lost job, relationship breakdown or other changes in personal circumstances can affect their ability to pay you rent.

What would you do if your tenants stop paying rent?

There are appropriate legal actions you can take, but that won’t cover your lost rent in the short term. Rent Guarantee Insurance is designed to cover you if your tenants can't or won't pay their rent.

What does our policy cover?

Rent Arrears up to vacant possession

Rent Arrears, up to a maximum amount of £8,000 per calendar month from the date the tenant first falls into arrears paid until legal vacant possession

£75,000 legal expenses

Legal Costs and expenses up to £75,000 per insured incident – for eviction costs, legal defence, damage, rent recovery

Vacant possession cover

75% of the rent for up to two months after gaining legal vacant possession if the property cannot be re-let right away due to damage

What is Rent Guarantee Insurance?

Rent guarantee insurance is a legal expenses insurance contract designed to cover you if your tenant stops paying their rent during their tenancy. The policy includes legal expenses up to £75,000 to cover the legal costs needed to regain possession including, issuing notices, eviction, legal advice, legal defence & damage to the property.

Our rent guarantee insurance also covers 75% of the rent for up to 2 months if your property cannot be re-let right away after gaining vacant possession due to damage caused by the tenant.

Key benefits:

Safeguard your rent

Rent Guarantee Insurance pays you the rent owed under the terms of your tenancy agreement up until you have your property back.
In the event that the property cannot be immediately re-rented after obtaining vacant possession, we will provide you with 75% of the rent for a maximum of two months.

Reduce the impact of rent arrears

Challenges that arise during tenancies can have a big impact, both mentally & financially. Taking rent guarantee insurance can reduce the impact of non-payment of rent meaning you can relax knowing your rent is covered.

Accessible legal guidance around the clock

Our skilled legal team is available 24/7, prepared to assist you with any legal concerns. They are highly trained to offer advice on legal matters whenever you need it.

Minimize administrative tasks

Once the claim is approved, our legal team will handle the entire process until vacant possession is achieved. Say goodbye to pursuing rent payments or preparing legal documents.

Rent Guarantee Insurance For HMO's

Advanced Rent offers a unique solution for HMO’s providing you with a cost-effective solution to cover your properties. You will still benefit from the same cover as a single-let policy but with a huge cost saving.

Instead of having one policy per room, Our rent guarantee insurance for HMOs allows you to cover multiple tenants living in the same property on different ASTs under one insurance policy.

Any new tenants that move into your property will be covered from the day they move in, subject to successful referencing.

On average, our landlords save at least £500 per property compared to taking one policy per room.

Who is the insurer of your Tenant Contents Insurance

Our Tenants Contents cover is underwritten by a panel of cherry picked insurers consisting of Axa, LV, RSA and UK General.
Who should i contact in the event of a claim?

In the event of a claim, you should contact your underwriter which will be detailed on your certificate of insurance.
Can i transfer my No Claims Discount (NCD) from another policy?

Yes. If there is more than one person named on the policy with two different NCD, the higher can be used I'm sharing the property but the only one named on the tenancy agreement.
Are we all covered by this policy?

The policy covers you, your partner and any other person permanently living with you under their tenancy agreement (including any children or foster children). The policy does not cover lodgers or other tenants not covered under your tenancy agreement.
What is the cooling off period for this cover?

There's a 14 day cooling off period from the start of the policy. In the event of cancellation after the cooling off period, a pro rata refund will be given if no claim has been made.
What is the most i can claim for one item?

The most you can claim for any one valuable is £2,500 unless the item is specified on the policy.
I work from home, is my business equipment covered?"

Business equipment is covered up to the sum insured for clerical work only. Business equipment is defined as computer equipment, printers, photocopiers, computer aided design equipment, office furniture and furnishings and telecommunications equipment used in any way for business purposes. This does not include any property held as stock.