Loss of Rent Insurance

What is Loss of Rent Insurance?

Loss of rent cover offers financial stability to property owners when tenants are forced to temporarily move out of the rented property after suffering a disaster (such as a fire or flood). Peace of mind is provided for any loss of rent owed to landlords when tenants have to vacate the premises unexpectedly and therefore, no longer pay the rent relied upon.

What does Loss of Rent Insurance cover?

If a burst pipe caused a severe flood in your rented building as an example, it may be deemed uninhabitable and any paying tenants may have to move out until your property is suitably repaired. In this case, loss of rent cover would be activated to reimburse any lost rental income to help keep you afloat. When taking out cover, you simply declare how much rent you want to protect and how long pay-outs may be needed from the insurer.

You may look to take out additional cover for alternative accommodation insurance, covering the fees to temporally place your tenants at another location. Please bear in mind that loss of rent cover will not simply protect tenants default payments simply because a tenant decides that they are no longer going to pay. Further cover for rent guarantee insurance can be taken out in this instance.

Get cover for Loss of Rent Insurance

We understand that your income as a landlord is vital, it's your livelihood and is worth securing. Our team can help safeguard your rent against unforeseen risks and assist you, should you ever need us, through a crisis. We can add loss of rent insurance to landlord insurance policies which are backed by leading UK insurers - comprehensive cover made affordable.