The new HomeLet Rent Protection scheme will now provide the Landlords with the greater cover than ever before, as we will cover a maximum of 15 months of arrears, per claim – something you simply cannot get anywhere else!
Effective 1st March 2021 the following changes will be introduced:
1. Missed rental payments until vacant possession of the property or for up to 15 months, whichever comes first.
2. Cover should a tenant defend the action taken, that means that we’ll continue to pay the claim until the challenge has been resolved (previously payments would be paused until resolved).
3. Legal expenses cover for up to £100,000, doubling the current cover level.
The changes will apply to all new business from 1st March, they’ll also apply to all 'Portfolio Transfers' and to all live existing policies, without the need to wait for renewal.
Therefore, all of the current live policies will be automatically upgraded to the higher level of cover from the 1st March 2021 (providing there is no live claim, or any arrears that start before this date).