Hi all,
Last year I began letting a flat through OpenRent. After finding a suitable tenant, I was invited to purchase Rentguard Insurance, which I did - It seemed a good deal at £89.
One year later the premium has increased THREEFOLD to £270 and the cover has been drastically reduced. A full year’s rent was guaranteed with no excess, but now only 6 months rent is covered and I would have to swallow the first 2 months of non-payment. Also, whereas £25,000 worth of legal fees were covered last year, now a paltry £1,250 is offered with the addition of £330 in ‘mediation fees’ (whatever they are).
Rentguard claim that the Covid crisis is behind the changes. Can anyone point me towards a better deal?
Chris.
Hi chris
Yes
I got same quote. Checked with other insurance company and all have same sort of conditions with slightly higher in p
Now openrent stop selling through their website for new listing due to covid.
Everyone know this current situations and that’s why they increased premium.
Nothing much we can do, just accept premium.
Which I did, no other options.
K
Thanks for the info K.
I guess I’ll suck it up too.
Hopefully the original cover at a reduced price will be available next year.
Chris.
I was in the same boat. Moved to https://www.alanboswell.com/landlord-insurance/ also took out the landlord insurance. Got a good deal all round.
I have used Alan Boswell for a few years now after changing every year for this reason and they don’t ramp it up every year