A unique and time saving innovation. Thank you Mashroom.
Refreshing and user friendly. So much easier than the traditional process. Being able to speak to the landlords direct and building a relationship of trust early on I found to be hugely beneficial. At last, a unique and time saving innovation.
Cover yourself with rent guarantee insurance and ensure that you don’t lose out on rental income if your tenant can’t keep up with the rent.
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We've got answers. Click here to see our FAQs.
Rent guarantee insurance (RGI) covers you for up to £2,500 per month in the event that your tenant is no longer able to pay the rent. It also includes the cost of repossessing your property and legal proceedings if you need to evict your tenants. Other benefits of RGI include pursuing the rent owed by tenants.
In the event you need to make a claim, rent guarantee will kick in and cover you against unpaid rent for up to 12 months.
Landlords who have referenced their tenants and have an Assured Shorthold Tenancy (AST) in place are eligible for rent guarantee insurance. You will also need to have the tenant’s security deposit stored in an official tenancy deposit scheme.
The cost of rent guarantee insurance depends on several factors, such as the type of property, your level of rental income, how comprehensive the cover is, and whether or not legal cover is included in the policy.
Rent guarantee insurance offers added peace of mind to landlords. Even the best tenants can find themselves in difficult circumstances, and having rent guarantee insurance in place protects you against any potential issues that may arise where your tenant can’t pay the rent.
You will need to professionally reference your tenants to qualify for rent guarantee insurance.
You can buy rent guarantee insurance through Mashroom. We provide cover for landlords who want to protect their investment and reduce the stress that comes with having a tenant who can’t pay their rent.
It’s important you understand what is and isn’t covered by the Rent Guarantee and Legal Expenses Insurance. The examples and descriptions above are only intended as a guide and you will be able to find the full details in the policy document and Insurance Product Information Document. We do not provide personal recommendations regarding the arrangement of insurance cover. By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to our Terms of Business.
Mashroom is an appointed representative of Martinez & Partners Limited t/a M&P Insurance Solutions. Martinez & Partners Ltd is authorised and regulated by the Financial Conduct Authority (FCA). Their Financial Services Register number is 306320, with permitted business activities being introducing, advising, arranging, dealing as agent, assisting in the administration and performance of general insurance contracts and credit broking in relation to insurance instalment facilities. You may check this on the Financial Services Register by visiting the FCA’s website, www.fca.gov.uk/register/ or by contacting the FCA on 0800 111 6768.