Rent assurance insurance

Landlord Discussion
1

Hi,
I have a prospective tenant whose referencing has come back as passed, proceed cautiously. Would the rent assurance insurance be available in this case? I’m not sure if this qualifies as having passed comprehensive referencing as the status is Passed but there is a warning

The reason for the warning is because the tenant’s previous landlord did not respond. He has tried hai best to contact them and also showed me proof. He has sent me proof of having paid rent for the past 1 year, so I have no concerns on that regard

Thanks

2

Can’t answer your question. Only the insurer can. However, is rent insurance worth the paper it is written on? Curious to know of peoples’ experience in making claims.

3

I should have clarified that the insurance is available on openrent. There is no option to speak to them and their email based customer service is useless, exchanged at least 5 emails and they wouldn’t tell me if Im eligible for the insurance

4

That experience in itself answers my query. Would you expect any different if you had to make a claim?

1 Like
5

I’ve never taken it, but I see it as a numbers game. If you only have one or two properties, £200 every year per property might sound value for money, but if you have 15, that’s £3,000 per year. That is alot of money, so best to pocket the £200’s & save up for a rainy day.