What is the excess, if any, on your insurance policy for lost rent?

By SamiiB-P
In News/Blog
Aug 2nd, 2016
0 Comments
523 Views

Dear Samii

What is the excess, if any, on your insurance policy for lost rent?

Samii says

Feel free to read about our insurance policies here : http://rentsafeuk.co.uk/category/insurance-products/
If you would like to take an insurance policy on an existing tenanted property, then there is a 90 day excess. However, if you draw up a new AST and reference your tenants (lead tenant included for free under policy) you are covered from day one.
Furthermore, if you are placing new tenants in a new property on a new AST, then as above you’re also covered from day one. In addition, the tenant has to be one full month in arrears for you to be able to contact the insurer for assistance.
With solicitor services costs being as they are, I’m sure you can agree that for £100.00 this is great value.

Dear Samii

Your wording regarding the policy excess is slightly ambiguous, so I need to seek clarification.  If I use your full referencing and background check services for all the new tenants moving in on a new AST, please could you confirm (or otherwise) my understanding that the excess on the policy for unpaid rent is NIL. In your reply you referred to when cover starts and when a claim can be made, which didn’t quite answer my question in my initial email.

Samii says

Apologies! What I was referring to was time not the financial amount. There is no financial excess. If you wish to pursue a tenant to recover malicious damage then the value of that damage must be over £1,000.
Here’s a link to our brochure detailing our one year landlord policy:
Furthermore, here is the link to the policy wording detailing excesses etc:
Any information I have provided is sourced directly from these documents.
Please note I am happy to help but I’m unable to offer financial advice.
If you have any further questions then please don’t hesitate to get in contact again.

 

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About "" Has 8 Posts

Senior PR Officer at TenantReferencingUK.com & Admin at NLCEuk.co.uk Any queries email me at: samii@landlordreferencing.co.uk or give me a call on: 0800 9994 994.