Rent guarantee insurance - 90 days exclusion period

Landlord Discussion
1

Hi, I have doubts about this statement which is on openrent when you go to buy RGI :- “We always recommend purchasing RGI within 14 days of your tenancy start date, whilst still possible to purchase after the tenants have been in the property for more than 14 days, a 90 day exclusion will apply for any claims.”

However when you proceed and download “Product Information” of RGI, there is a clause under “Are there any restrictions on cover?” which says there is no cover for first 90 days if cover start after tenancy commenced, there is no mention of 14 days as above :-
“There is no cover for disputes with the tenant which arise within the first 90 days of the start date of this insurance if the tenancy commenced before this insurance
started (unless continuous equivalent cover was in place immediately before this insurance commenced).”

Both these are contradictory, and meaning that RGI purchased even a day after , will provider cover after 90 days , not immediately. So please clarify this on your website.

2

hi Arvind, exactly my question as well. What is 90 day exclusion mean? If tenant defaults paying rent from 2nd month itself, doesn’t this rent guarantee insurance protect us from this default? Does this insurance only cover any rental disputes form 4th month onwards?

3

Hi Aparna, this is correct. For this insurance to protect you from beginning, you must purchase before start of tenancy. Hope this helps.

4

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