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Rental protection and legal expenses cover
HomeRental protection and legal expenses cover

WHAT IS RENT PROTECTION AND LEGAL EXPENSES INSURANCE?

Rent Protection and Legal Expenses Insurance does exactly what it says on the tin - it protects the income (rent) of a property that has been let to a tenant. Sometimes things can go wrong - even when you’ve taken measures to protect yourself. Rent arrears can be disastrous for a landlord, who might rely on this income to pay a buy-to-let mortgage. We’ll often settle a dispute in rent arrears or damage to a property outside of the legal system and, by taking out our insurance policy, we handle the time-consuming task of making a settlement. With our policy, landlords will always get the income they expect and, if they need legal representation to recover it, our policy can help.

NIL EXCESS

Rent Protection and Legal Expenses Insurance policies from Goodlord come with nil excess as standard, so landlords will benefit from 100% of rent owed, should they need to make a claim.

UP TO £100,000 LEGAL EXPENSE COVER

We’ll cover the costs and expenses of legal proceedings, including the cost of appeals, and also provide legal representation from one of our trusted partners. We’ll appoint a legal representative for the duration of the proceedings and support throughout the process.

RENT PROTECTION AND RECOVERY

We’ll pay rent arrears whilst a tenant or extenant still occupies the property for up to 12 months. After vacant possession has been obtained, we’ll continue to pay 75% of the rent until the property is re-let for a maximum of two months. We’ll also cover the costs and expenses of recovering rent from a tenant or ex-tenant, if the rent has been overdue for at least one month.

PROPERTY DAMAGE COVER

Should a property sustain physical damage of £1,000 or more during the tenancy caused by the tenant, we’ll cover the costs and expenses for pursuit of a civil dispute against the tenant, to rectify the damage.

EVICTION OF TENANTS OR SQUATTERS

If there are squatters or ex-tenants in the property without the landlord’s consent, our policy will assist with the costs of eviction.

STANDALONE LEGAL EXPENSE COVER

The landlord can claim for legal expense cover to evict a tenant, should the tenant breach any part of their tenancy agreement that requires the pursuit of a civil dispute.

CONTRACT DISPUTE PROTECTION

Our policy will cover against costs and expenses relating to the dispute of a contract, entered into for the buying or hiring of any goods and services relating to the landlord’s property, providing the amount in dispute is over £100 and the agreement was entered into during the period of insurance.

90-DAY CLAIM WINDOW

We offer a 90-day claim window, providing plenty of time to organise a claim from the date of the first rental payment missed by a tenant. Our claims process is really simple and all communications to the landlord are sent automatically, when a claim is submitted.

AUTO-RENEWAL PROCESS

Our policies are set to auto-renew as standard, so you don’t have to worry about the arduous task of finding new policies for properties when the policy ends, you can continue to provide landlords with consistent service and peace of mind.

EXCLUSIVE PARTNERSHIP WITH

We partner with DAS Insurance UK to underwrite the policy and provide an insurance policy you can trust. DAS has been giving customers legal help for over 40 years, and became one of the pioneers in the United Kingdom for legal expenses cover. In 2018 alone, DAS underwrote seven million policies for individuals, and continues to provide marketleading customer service.

WHAT’S THE DIFFERENCE BETWEEN OUR INSURANCE POLICY AND OTHER POLICIES?

Our Rent Protection and Legal Expenses Insurance Policy is nil excess as standard, and covers eviction of tenants or squatters legal proceedings, property damage, contract disputes, and legal defence, should you need it. You can see full details of our comprehensive cover below:

GOODLORD OTHER PROVIDERS
EXCESS Nil 2 months Nil Nil
LEGAL COVER £100,000 £50,000 £50,000 £100,000
PAYMENT AFTER VP 75% for 2 months 50% for 2 months None None
CLAIMS WINDOW (DAYS) 90 37 31 30
MAX PAYOUT 12 months 4 months 6 months 6 months
CLAIM PROCESS Automated Manual Manual Manual
PROPERTY DAMAGE COVER
CONTRACT DISPUTE COVER
AUTO RENEWAL
STANDALONE LEGAL COVER
MONTHLY PRICING

Based on coverage of select alternative providers, accurate as of June 2020

Did you know we also have a robust referencing service that assesses tenants’ eligibility against the criteria of our Rent Protection and Legal Expenses policy?

CRITERIA

Our Rent Protection and Legal Expenses policy is directly linked to our referencing criteria. A tenant must have passed, conditionally passed, or have an acceptable guarantor for a Rent Protection and Legal Expenses policy to be available on the property. Our criteria for referencing is made up of four components: identification, residential history, income, and affordability.

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