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Legal & Rent Protection Insurance for Landlords


Legal & Rent Protection Insurance for Landlords

Rent Protection Insurance

If you’re new to the buy-to-let market, being a landlord might seem like a lucrative way to enjoy a stable and steady income. However, should your tenants find themselves in a position where they’re unable to pay the rent, you’ll still have to cover the mortgage payments, the bills and any other expenses the property incurs. Taking out rent protection insurance could therefore prove to be an invaluable investment.

Choose rent protection insurance to protect your investment

Hawks Estate Agents have various rent and legal protection products available for our landlords.

Our landlord rent protection insurance offers complete peace of mind for concerned landlords in what are uncertain times. We’re here to make our landlords’ lives easier, so our rent protection insurance is underwritten by HomeLet – the UK’s leading tenant referencing company. As a Hawks landlord, you’ll also enjoy preferential terms as part of your rent protection cover.  

What’s included in our rent protection insurance package?

  • Missed rental payments until vacant possession or for up to 15 months – whichever comes first.
  • Legal expenses up to £100,000 to cover eviction costs if the tenant is in breach of their tenancy agreement.
  • Cover should a tenant defend the action taken, meaning we continue to pay the claim until resolved.
  • No Covid-19 restrictions!

Our landlord rent protection insurance ensures you receive 100% of the monthly rent payable for up to 15 months if your tenant defaults. In addition, you’ll also benefit from market-leading tenant references and up to £100,000 of legal expenses, including eviction costs.

With no policy excess, your payments begin from the first month of rent arrears. Under our landlord insurance with rent protection, you’ll also benefit from fast and hassle-free tenant eviction cover. This service is provided by a team of industry experts, so you don’t have to deal with any additional stress. Our comprehensive rent protection policy gives you the peace of mind that your income is safe.

Why is rent protection insurance important?

Even the most reliable tenants can sometimes run into financial difficulties that result in arrears, leaving you out of pocket. This is where rent protection insurance can prove to be an invaluable asset, regardless of whether you have one rental property or a whole portfolio.

Equally, if your tenants are proving less than ideal and you’ve issued a Section 21 or Section 8 notice, it can still take several months to evict a tenant. This could result in you losing a significant amount of money.

Rent protection has never been more important and even if you’ve not had issues in the past, consider:

  • The average cost of evicting a tenant in lost rent and legal fees is £9,000
  • As of October 2020, 2.7 million people were on self-employment income support
  • 500,000 tenants nationwide were behind on payments at the start of 2021
  • 56% of landlords lost income because of the pandemic

If you’re a landlord, we know you want to use an agent who offers a great service, good value for money and the best possible protection. We can now confidently say we offer the best service, the best protection and, we believe, the best value when it comes to not only our landlord property services but our landlord rent protection policy too.

Industry-leading referencing

For our rent protection products to be applied, your tenants need to pass our referencing process. Our insurance partner offers the best in tenant referencing, reducing the chance for your tenants to fall into arrears or cause problems during the tenancy. 

Cifas Checks

By directly checking the national fraud database Cifas, HomeLet detects applications where a potential tenant has either previously committed fraud or has a confirmed case against them.

HomeLet’s Default Database

A check against HomeLet’s Default Database highlights whether a tenant may have failed to pay their rent in the past. They have over 14,000 tenant records held in their system!

FAQs from Landlords

Why should I take out rent protection insurance?

Your property is likely your biggest investment, so protecting it is vital to ensure it makes you money. Do you insure the house you live in and the car you drive? Yes, so make sure your investment is covered. 

Regular home insurance might not give you the cover you need; think about legal costs for eviction if necessary, chasing rent arrears and more. You need that property to be insured.

If you’re still unsure about whether you should take our rent protection, give your local branch a call and speak to one of our friendly experts.

How much does rent protection cover cost?

The cost of rent protection insurance is almost always based on the value of the property and the level of cover you choose. Please discuss with the Hawks team for more details and options available.