Rent Guarantee and Legal Expenses provider gone bust?

Rent Guarantee and Legal Expenses provider gone bust?

11:35 AM, 17th August 2020, About A year ago 15

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All my rental properties are covered with rent guarantee and legal expenses cover. One of the properties is up for renewal on 21st August, and I am struggling to find cover due to COVID-19.

If anyone has been through this process recently, I would appreciate if you could share any companies you have been able to obtain cover with.

Unfortunately, the company I currently have cover with has gone bust, and the end insurer (DAS) do not deal directly with the public – only via intermediaries.

The current tenant is working (Head Teacher) and was fully referenced prior to commencing the tenancy (ID check, Credit Reference, Bank and employer references).

Many thanks

Paul



Comments

by Paul Hawkins

17:11 PM, 24th August 2020, About A year ago

Reply to the comment left by Chris Clare at 18/08/2020 - 11:01
I have - DAS gave me a list of brokers but many of them are now closed to new business.

by Paul Hawkins

17:12 PM, 24th August 2020, About A year ago

Reply to the comment left by James Cunningham at 18/08/2020 - 11:05
Yes, Alan Boswell is a name that has come up, and looks a possible lead.

by Paul Hawkins

17:13 PM, 24th August 2020, About A year ago

Reply to the comment left by The Seasoned Female Investor at 18/08/2020 - 12:02
Thanks for the tip RE Mudhouse - not a name I'd come across before but definitely worth a phone call

by Paul Hawkins

17:18 PM, 24th August 2020, About A year ago

Reply to the comment left by Jason McClean at 24/08/2020 - 15:48
Thanks Jason - would the same reasoning apply to the purchase of cover for legal expenses only - e.g. insurance to cover the legal costs of eviction, but no payment of lost rent? Whilst I may be able to stomach the loss of rent, its the cost of legal cover to take on the costs of eviction that would be my main concern if rent cover is not available at the moment?

by Jason McClean

11:34 AM, 25th August 2020, About A year ago

Reply to the comment left by Paul Hawkins at 24/08/2020 - 17:18
Hi Paul

Landlord Legal Expense cover is still for sale. Ours costs £30 for the year, but I'd suggest you speak with your existing broker/supplier and ask them ref their offering. It will offer legal defence/pursuit and assistance in most cases for you - and should have a legal helpline you can talk to for advice.


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