Can I get rent guarantee insurance?

Yes, as long as you meet the acceptance criteria.

Does landlord insurance cover unpaid rent?

Under normal circumstances, landlord insurance usually covers loss of rent following a claim under the main policy. However, if your tenants simply stop paying their rent then your landlord insurance will not cover this and you would need a separate legal expenses and rent guarantee insurance policy which would provide cover to evict the tenant and pay your rent during the process.

Will my rent guarantee insurance policy still cover me if I change my tenant?

Yes, the insurance is based on the property. As long as the new tenant has passed referencing and there is a tenancy agreement in place then the insurance will be valid.

Do I need rent guarantee insurance?

There is no legal requirement for the product, although it is highly advisable if you rely on the rental income.

How many tenants can my rent guarantee insurance policy cover?

You can cover up to four tenants per policy, if you wish to cover more than four, please contact us. It is worth being aware of the fact that the number of tenants you have staying in your property will affect the price of insurance. For more information on other factors that will affect your costs, visit our landlords insurance statistics page.

Landlords Rent Guarantee Insurance - From £195 for 12 months

Name: Rent Guarantee Insurance
Brand: Alan Boswell Group
Rating: 4.9 (1420 reviews)

Purchase our rent guarantee insurance (also known as rent protection insurance) and get peace of mind when renting out your properties. Our rent guarantee insurance policy also comes with legal expenses as standard, so you can get rent protection in the event of a tenant defaulting and any legal expenses costs you may face, such as costs for evicting a tenant, covered.

Key features

Cover up to £2,500 in rental income per month

Up to 15 months’ rental cover

Up to three months' rental cover following eviction at 75% of monthly rent

Full landlord legal expenses up to £100,000 (including eviction costs)

24/7 landlord legal expenses helpline

All tenant types considered

Need landlord building insurance and rent guarantee?

Save an additional £55 off your rent guarantee insurance policy when you purchase a landlord insurance policy from us.

The Alan Boswell Group Difference

Alan Boswell Group appreciates the time and effort it takes to find the right tenant(s) and the need to protect rental income for the property. However, sometimes circumstances out of a tenant’s control, such as redundancy, may result in a rent default. It is at this point that rent protection insurance, such as landlord rent guarantee insurance, can make all the difference. Because we understand this, we have created a policy that caters to a variety of events.

View our landlord advice hub for useful information to help landlords and property owners find the advice and products needed.

Rent guarantee insurance adviser at Alan Boswell Group

How our customers rate us

Easy to use - all insurances were sorted to come up on the same date. Very simple website.

Mrs Knox - Landlord Insurance

4.9/5 1420 reviews

What is rent guarantee insurance?

Rent guarantee insurance protects landlords against loss of rental income should tenants be unable to pay their rent. In addition, our policy includes legal expenses which will cover the legal costs of regaining possession of your property, section notices, evictions, and professional legal advice, up to £100,000.

Who is rent guarantee insurance for?

Rent guarantee insurance is recommended for anybody who could financially suffer should the property they are renting out no longer produce a rental income. Even the best tenants may find themselves in a difficult situation and unable to pay the rent you rely on, so rent guarantee insurance is a valuable safety net should you no longer receive payments as expected.

Rent guarantee insurance in detail

Rent guarantee insurance is a valuable insurance policy for many landlords who want rental income protection. Landlord insurance with rent guarantee and legal expenses is a perfect combination for any professional or residential landlord, providing cover if your tenant defaults and fails to pay the rent on your property.

Benefits

Rental income cover

Cover up to £2,500 in rental income per month for up to 15 months.

Legal advice helpline

The policy provides you with access to a 24/7 legal advice helpline.

Legal expenses cover

Cover for up to £100,000 legal expenses for eviction (including the issue of relevant section notices), property legal disputes, repair and renovation disputes, health & safety investigations, tax investigations, removal of squatters by interim possession order, replacement of locks following legal eviction by bailiff or sheriff and storage of tenant's goods following legal eviction by bailiff or sheriff.

What do I need to check before buying a rent guarantee policy?

Before buying rent guarantee insurance, you should ensure that you meet all legal requirements for renting out a property and have the correct documents to hand. You will need to be able to provide evidence of the following:

Affordability – your tenant needs to be earning at least two and a half times the monthly rental amount (three times, if self-employed). This can be from working income, benefits, and pensions, or a combination of all three. Evidence of this income should be obtained (e.g. bank statements, pension statements, or proof from an accountant).

A credit check clear of CCJs, bankruptcies or IVAs – tenants need to be clear of IVAs, CCJs, and bankruptcies for at least three years.

Proof of identification – we need two forms of ID to confirm the tenant’s identity, one of which needs to include a photo. We usually suggest a passport or driving licence along with a utility bill.

A legal tenancy agreement – there must be a legal tenancy agreement in place at the time of making a claim, if this is not the case then the policy will be void.

The policy also requires that all documents you are required to issue by law have been issued to the tenant, these include:

How to rent guide
Gas safety certificate
EPC
Deposit prescribed information (if taken)

Your tenants will have to be satisfactorily referenced using two forms of ID, one of which needs to be photographic, for a rent guarantee insurance policy to be valid. We will also accept evidence they have passed the right to rent as proof of identification.

Find out more about tenant referencing here.

Common questions

My tenant has failed the referencing check; can they use a guarantor?

What if my tenant can't get a guarantor?

Do guarantors get credit checked?

Can someone be a guarantor if they have a bad credit rating?

Is a guarantor liable for unpaid rent?

Can someone remove themselves from being a guarantor?

Policy downloads

Find out more about our rent guarantee and legal expenses cover by reading and downloading the policy summary and policy wording.

Rent guarantee and legal expenses policy wording

Rent guarantee and legal expenses policy summary

Costs

Rent guarantee and legal expenses cost

How much does rent guarantee insurance cost?

Thanks to our close insurer relationships, we can provide rent guarantee and legal expenses insurance at a competitive price. Plus, if you take it out when buying a landlord insurance policy with us, we can give you an exclusive discount.

Monthly rental income	Insurance cost when bought with landlord insurance from Alan Boswell Group	Insurance cost per property per year
Up to £2,500	£195 for 12 months	£250 for 12 months

Standalone landlord legal expenses

You are also able to purchase a standalone cover for landlord legal expenses insurance, the cover is available for £40 if purchased in conjunction with an Alan Boswell Group landlord insurance policy.

Alternatively, landlord legal expenses insurance can be purchased for £60 on a standalone basis if you don't have a landlord insurance policy with us.

To purchase stand-alone rent guarantee insurance with legal expenses, follow the link below.

Rent guarantee with legal expenses

Claims

How do I make a claim on my rent guarantee policy?

Should your tenant fall into arrears, you have 90 days to submit a claim on your rent guarantee policy, but we always recommend submitting within 60 days as one months’ rent is taken from claims notified between 61 and 90 days.

In the first instance you should contact the tenant to establish the reason behind the missed rental payment and try to agree a payment plan.

Should the tenant not be able to make the rental payment you would be required to submit a claim form, uploading the relevant documents and information.

Upon acceptance of the claim and after the second missed rental payment, the policy will act to issue the relevant section notice to initiate eviction proceedings and make the rental payments.

At the conclusion of the claim, the final payment will be made and you will have possession of your property, which you can then re-let.

Submit a claim