Loss of Rent Insurance for Landlords £2,500 / month
Landlord Legal and Rent Protection Insurance
What is Loss of Rent Insurance with Legal Expenses?
If you are a landlord or owner of commercial property you need to protect both your property and the associated income. Loss of rent insurance would pay out should your property become uninhabitable as a result of an insured event. Landlord legal and rent protection Insurance well pay out if your tenants fail to pay the rent.
Failure to pay rent is not uncommon, even good paying tenants can have a change in their circumstance that makes paying rent impossible. If this happens, you will need to take action to recover your arrears and or get them evicted. With rent loss insurance and legal protection you will be covered for your legal expenses plus you will be able to claim for lost rent. All This polices have upper limits which we will explore later.
Other Forms of Loss of Rent
You may have loss of rent included as part of your building's cover. This is loss of rent due to dire circumstances, for example flood or fire. As a result, your tenants have to move out, and you will lose your rental income until the property becomes habitable, and you are able to source new tenants. Please not this is a different type of rental loss insurance, the rent loss insurance being offered here is for loss due to non payment of rent by your tenants, This happens more often than you may think and is much more likely that loss o rent due to a fire or flood.