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Is Landlord Insurance Worth Having?

Landlord insurance provides financial protection that can compensate for loss, damage or injury to a third party and your property. You are not legally obliged to take out insurance when you let our a property, although you should check with your mortgage provider should you have one.

Whilst we’re dedicated to finding you the perfect tenant by carrying out all the necessary checks, we still recommend that you consider taking out a policy to protect your investment against any unexpected events.

£10,403

The average cost in lost rent for landlords waiting to evict a tenant*

110,907

Number of landlord possesion claims in 2019*

67%

Percentage of landlords who identified late/non-payment of rent as an issue when dealing with problem tenants *

Landlord Insurance with Grisdales

We work with Homelet, one of the UK’s largest providers of specialist services for the private rented sector, to bring effective protection policies to our landlords.

Landlord Insurance: Referencing & Eviction

Features & Benefits:

  • High-quality tenant referencing service
  • Powerful eviction service if your tenant default on their rent, the in-house Legal and Claims team will step in to manage the eviction process. They’ll guide you through the complex eviction process at every step.
  • Up to £50,000 of legal expenses are covered including eviction costs following non-payment of rent, or a lapsed Section 21.

Landlord Insurance: Rent Recovery & Eviction

Key features & Benefits:

  • Cover for the total monthly rent, no matter how many tenants are on the tenancy agreement.
  • Monthly rent paid for up to a maximum value equivalent to 15 months, or until vacant possession (whichever is sooner).
  • 75% of the monthly rent paid for up to 3 months after vacant possession has been obtained.
  • Powerful eviction service including legal expenses up to £100,000 for an eviction.
  • Covers breaches of the tenancy agreement by the tenant, including non-payment of rent and expired section 21 notices.
  • 12 months of cover.
  • Rent Recovery Plus covers the whole property, meaning cover continues even when/if the tenants change.
  • Excess or nil excess options available.
  • Payments continue beyond the end of our policy term
  • Set up with 14 days of tenancy start date

 


*All statistics correct as of January 2020 based on information held by Barbon

HomeLet is a trading name of Barbon Insurance Group Limited which is authorised and regulated by the Financial Conduct Authority for insurance distribution.
Registered in England number 3135797. Registered office address: Hestia House, Edgewest Road, Lincoln, LN6 7EL