Is Rent Protection Insurance Really Necessary?

Back to All Blogs

Is Rent Protection Insurance Really Necessary?

With the cost of living crisis leaving many tenants feeling squeezed, now could be the right time for landlords to invest in rent protection insurance. But is it really worth it, or just another expense?

The rental market is a tough place to be, especially in the current economic climate.

With the cost of living crisis leaving many tenants feeling squeezed, now could be the right time for landlords to invest in rent protection insurance. But is it really worth it, or just another expense?

In this two-minute read, we look at rent protection insurance in detail to help you decide whether you need it.

What is it?

Rent protection is also known as rent guarantee insurance or landlord rent insurance.

It protects landlords against loss of rental income if a tenant is unable to pay.

Where a tenant continually defaults, the eviction process can take a long time, meaning you’re without rental income until you can resolve the situation. Rent protection insurance covers losses for up to 12 months; it also includes legal expenses which you may incur during the eviction process.

As with any insurance policy, there are lots of conditions and restrictions on what and when you can claim, so make sure you know exactly what you’re paying for.

How much does it cost?

This depends on factors such as size and location of the property, type of property, the tenants you’re renting to, rental amount and so on. It’s best to shop around, and most insurance comparison sites will provide multiple quotes.

Rent protection insurance is tax deductible.

Many letting agents offer rent protection insurance to their landlords as part of their fees, which saves you the time and hassle of looking for an individual policy.

Why is it a good idea?

Many landlords need their monthly rent to cover mortgage payments, so not having cover could prove a big risk in the long run. Some policies also cover short periods of vacant possession.

If you have landlord insurance (buildings, contents and so on), you may be able to add rent protection to the policy. Make sure you speak to your provider to see what they offer. And, if you own multiple properties, you may be able to arrange a single policy to cover them all.

Are you a landlord in need of a trustworthy and reliable letting agent? At Courtyard, we’ve got you covered. Give us a call on 01925 767000 to see how we can help.

GET IN TOUCH WITH US

First Name*

Last Name*

Mobile Phone*

Your Email Address*

Are you looking to*

Please enter message here*

Please confirm that it is okay for us to contact you about this information as well as our products and services. By confirming, you also agree to the use of cookies to enhance your experience. (You will always have the right to unsubscribe or manage your cookie preferences at any point in the future.)*

Register For Our Heads-Up Property Alerts

See homes before they hit the portals. By registering with Courtyard, you unlock early access to homes before they appear on Rightmove or Zoopla. Our Heads-Up Alerts match your preferences to upcoming listings and send them straight to your inbox — often days before they go public. In a fast-moving market like Warrington’s, that early edge can make all the difference. Whether you’re buying or renting, this free service helps you stay one step ahead.

Our Blog

The Best Chinese Takeaways Near WA3

Whether it's a Friday night after work or a Sunday when cooking feels like too much effort, a good local Chinese takeaway is one of life's reliable pleasures. Here are four of the best options within easy reach of Culcheth, Lowton, Birchwood, and Glazebury.

The Most Common Frustrations Sellers Face and How to Avoid Them

Selling a home is one of the most significant financial transactions most people will ever make. It should be straightforward. Too often, it is not.

Roger Hunt: The World Cup Winner Who Called This Area Home

On 30 July 1966, England beat West Germany 4-2 at Wembley to win the FIFA World Cup. It remains the only time England have lifted the trophy. One of the eleven men on the pitch that afternoon was Roger Hunt, a forward who had played in every single one of England's six matches and scored three of their goals.

Home Improvements That Add Value and the Ones That Do Not

Not all money spent on a home comes back when you sell. Some improvements consistently produce a return above their cost. Others, despite feeling significant when you are living through them, make little difference to what a buyer is prepared to offer.

How to Keep Your Home Cool During a Heatwave — Tips That Actually Work

British houses are built to retain heat, not release it. A spell of hot weather in May or June exposes this quickly, particularly in older properties with solid walls and small windows. If your home has turned into a radiator, here are the tips that actually make a difference, and the ones that are more myth than method.

Garden Centres Worth Knowing About Near WA3

If you have a garden and you live in the WA3 area, you are genuinely well placed. Within a short drive there is one of the most visited garden centres in the country, a well-established local nursery, and a farm-based plant centre that most people combine with a breakfast stop. Here is what each one offers and what to expect.

View All Blogs

Register for Heads up Alerts

Back to All Blogs