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Combined reference and rent guarantee insurance for landlords

publication date: Sep 22, 2009
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Ian FraserLetsure has launched a new combined reference and rent guarantee insurance product to the landlord market. Rentsure Complete combines Letsure’s highly inclusive Rent Guarantee insurance with its Comprehensive reference product. The package has been designed to deliver the highest level of cover at the lowest possible cost.

Cover provided by Rentsure Complete includes legal protection for the eviction of tenants for nonpayment of rent, as well as other breaches of tenancy where there are reasonable grounds to evict. Letsure’s in-house legal experts are able to handle the technical aspects of evicting a tenant, allowing the landlord to take on new tenants as quickly as possible. Rental payments are made for up to 11 months at 100 per cent until the eviction process is completed, with 75 per cent of the rent paid for a further two months while the landlord makes the property ready for new tenants.

Letsure Managing Director Ian Fraser (pictured) said the combined product formula was developed to allow landlords or their agents to apply for Rent Guarantee insurance and references at the same time. He added that the reduction in administration and the increased exposure through the online referencing system, www.eletsure.com, has allowed Letsure to drive down premium costs and deliver an unprecedented level of cover for a combined policy.

Ian explains further, “We have been working hard over the last eight months to begin expanding our range of products and services. “The first major release was the replacement of our Emergency Assistance with the new Home Emergency Assistance to include boiler breakdown cover and the second has been the release of Rentsure Complete.”

A recent survey by the NLA found that 37 per cent of landlords reported that their tenants were in arrears. Last year the legal and claims department handled over 4000 notified claims and paid out over £2.8 million on Rent Guarantee insurances.