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Landlord Rent Guarantee insurance during Covid

Updated: 4 days ago



It has been, and continues to be, a difficult time for landlords, rumours of capital gains tax hikes on top of problems with lending/re mortgaging, collecting rent and eviction issues.


However, there are three key areas you should be exploring and benefiting from when it comes to insurance cover.

Protect your assets


1. Rent Guarantee Insurance


Many insurers have pulled away from including this within policies, however we have worked hard to source this cover. You will agree its one of the most essential policies to have in place.


Main Cover: Rent Recovery, Tenant Eviction, Tenant Property Damage, Legal Defence, Squatter Protection, Rent Guarantee of 85% of monthly rent


Cost Indication: £ 292.72 per annum

2. Homebuyers Insurance


Landlords and private residential purchases, homebuyers insurance covers you against any losses suffered when property purchases aren’t completed through no fault of your own.


This cover is for property you intend to purchase on a private basis and can include buy to let properties.


Main cover: Withdrawal from the sale by the vendor, Adverse Legal Search, Property Valuation, Redundancy, Gazumping, Structural Defects, Terminal Illness


Cost Indication: from £ 179.00 per annum


3. Requirements from your Lender


Many lenders are asking for specific terms on their clients insurances for their properties/developments.


Oncover insurance take that pain away and help you avoid the time consuming back and forth to meet these requirements. In our experience most insurers will not be able to accommodate requirements such as First Loss Payee, Joint Co-Insured, Composite Insured.


At Oncover insurance our close relationships with insurers built up over many years, help us to negotiate bespoke policies to satisfy lenders requirements and enable you to get your lending across the line. Once completed, we can assist with Indemnity, Right of Light, and Structural Warranty Insurance if it is a development and the more niche products such as Deposit Insurance to improve developer’s cash flow.

Oncover Insurance specialise with landlords insurance products and services. Having assisted 100's of landlords through difficult claims to get paid out, Oncover insurance is the number one choice for bespoke landlord insurance.

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Oncover Insurance Services Limited is authorised and regulated by the Financial Conduct Authority (FCA).  Our FCA Register number is 306045. The FCA's register can be accessed through www.fca.org.uk/register. We are covered by the Financial Ombudsman Service (FOS).  See their website https://www.financial-ombudsman.org.uk/ for further information. Registered in England & Wales under Company no. 04036567. Registered address: 89c College Place London NW1 0DR.