We use cookies to give you the best experience and help us improve our website.

Find out more about how we use cookies.

Speak directly to our team

01603 649727
Home » Landlords » Rent Guarantee useful information – Effective 1st September 2019

Welcome to our new partnership page which provides the following information

  • Rent Guarantee portal user guide
  • Product information (inc acceptance criteria)
  • Your responsibilities
  • Claims process information
  • Invoicing details and how to make a payment
  • FAQs (Acceptance criteria, Guarantors etc)


The Alan Boswell Group Difference

Alan Boswell Group - personal

Alan Boswell Group are one of the UK’s largest independent insurance brokers and a major player in the landlords insurance and letting agents insurance space. Having dealt with letting agents and property managers for many years we are confident our range of products available. We are an agile and innovative partner who provides first class advice as evidenced by our multiple awards, independent reviews and chartered status.

Sales portal access and user guide

Our sales portal can be accessed by  clicking here

Please click the following link for access to our Portal User Guide

Policy wordings

We have a number of policies available

Below are details of the full policy wording and product summary (IPID – Insurance Product Information Document)

Invoicing and payments

Invoicing is run on the 15th day of the month where an invoice will be generated for the previous months sales e.g. 15th July for June sales.

Invoices will be sent automatically and we provide a variety of payment options, including an automated payment facility for ease.

Rent Guarantee Insurance acceptance criteria

In order to qualify for a Rent Guarantee Insurance a tenant(s) must meet the following

  • Affordability A tenant(s) must be in receipt of regular income of 2.5 times the monthly rent.
  • Adverse credit history All CCJs, Bankruptcies and IVAs must be settled for at least three years.
  • Identification and income Acceptable identification and proofs of income are listed here
  • Failure If a tenant does not meet the acceptance criteria a guarantor can be used who must meet the same requirements, except income multiple, which must be 3 times the monthly rent.

For a full list of our acceptable forms of identification and proofs of income, please see our acceptance documents list

Make a claim

To make a claims call 0333 043 1326

All our Rent Guarantee Insurance claims are managed by our partner CoPlus who are a multi award winning claims management company.

For a full flowchart of our claims process click here

All our policies have different terms and conditions specific to the policy purchased so please read these carefully. However in general to make a claim you must have met the following criteria:

  • 2 forms Of ID, reference check and proof of earnings at 2.5x or more
  • Made contact with the tenant within 7 days of the first default
  • Reported the claim within 30 days of the 1st default to coplus
  • Provided coplus with required documents in the claims flow chart

Your responsibilities

As a Letting Agent under Financial Conduct Authority rules, you are not allowed to sell, arrange or promote insurance to your clients (as you are not regulated to do so). Arranging insurance without proper authorisation could lead to enforcement action being taken by the regulators.

To enable you to purchase a rent guarantee policy in your agency name that your landlords can benefit from you must have insurable interest. This is evidenced by the full management of a property which includes tenant find, tenant referencing, check-in with an inventory, rent collection and at the termination of the tenancy a check out with a final inventory. This enables you to offer a management service that includes rent and legal protection.  Please bear in mind that when marketing the scheme you cannot give the impression you are offering an insurance product. You must  refrain from referring to the cost of the scheme as a ‘premium’ or using the word ‘insurance’.  Instead you are offering your clients a guarantee.  The policy must be in your name as letting agent, you must pay the premium, but either you or the property owner can make a claim against the policy.

In terms of the service Alan Boswell Group is providing you (the letting agent), please note this is a non-advised sale and that we only provide rent guarantee insurance from a single provider (Motorplus Limited).  Our Terms of Business to you are available here.

To help you position the service, below we explain how it should be described as a ‘contract of guarantee’.  By following this process you are able to formalise the arrangement with your client.

Charging the landlord

You must ensure that any charge needs to form part of your managed service charge and is subject to VAT. There cannot be a direct cost to the landlord for the insurance otherwise this would be a regulated activity and require FCA authorisation.

Such a charge may be levied as follows :-

  • An increased Management Service % ( i.e 10% for our standard service or 12% for our increased management service including Rent Guarantee)
  • A monthly charge of £XX a month for our Rent Guarantee service
  • An annual charge of £XX for our Rent Guarantee service

Largely driven by market forces the costs for the added benefit of having the guarantee needs to be proportionate and reasonable.

Renewing the Guarantee

You can only renew the guarantee if you are still fully managing the property.

Consequences of not complying with the above guidelines

If you do not comply with the above guidelines, we reserve the right to restrict your access to the portal.



  • 2 Forms Of ID – 1 inclusive of a Photo

    Proof of earnings at 2.5x the rental amount.

    Credit Reference from a licenced credit agency confirming no CCJs, IVAs or bankruptcies in the last 3 years.

    If a tenant has been in the property for 12 months without payment issues then the need for the above checks is waivered and in the event of a claim you would just need to provide a rental statement confirming the past 12 months rent have paid on time.These will be acceptable and there income can be proved using the following

  • These will be acceptable and their income can be proved using a number of documents articulated above in our acceptance criteria.

  • If a tenant can’t pass the reference requirement, they will need a UK based Guarantor who can pass referencing.

  • Guarantors would be required to pass the same referencing requirements as a tenant, except their earnings need to be 3x the rental amount.

    • 2 Forms of ID, 1 inclusive of a photo
    • Proof of earnings at 3x the rental amount
    • A credit reference confirming no CCJs, IVAs or Bankruptcies in the last 3 years
    • Must be UK based
  • Acceptable IDs – two forms of ID, a minimum of 1 must be primary

    Accepted primary forms

    • Passport
    • Driving licence
    • Residency card
    • Current UK Non-Photo Driving Licence
    • HMRC Tax notification
    • Young Scots Card
    • Blue Disabled drivers pass
    • Benefits of pensions notification letter confirming the right to benefit

    In addition to the above if you cannot provide two primary forms of ID

    • Bank or Building Society statement
    • Utility Bill within the last 6 months
    • Local authority tax bill for the current financial year
    • Benefits of pensions notification letter confirming the right to benefit
  • In general they will require a guarantor, but it does depend on the frequency and severity. To be sure please refer scenario to us for a decision.

    • No claims will be paid if rental payments are in arrears for less than 31 days
    • Any claims not reported within 30 days from first arrears occurring
    • Any claims within the first 90 days where the policy wasn’t taken out on or before a tenancy starts, or if there hasn’t been previous  cover in place.
    • Claims where a tenant is already in default before the policy starts
  • Cover is provided against the property, if a tenant moves out and a new tenant moves in cover will remain valid provided the new tenant passes referencing.

  • Policies can be taken out mid tenancy, however there will be a 90 day exclusion period for any claims, unless there was insurance previously in place elsewhere.

  • Provided all documents are received and validated, a valid claim should be paid around 45 days after the 1st payment is missed.

    Payments will continue being paid a month in arrears until eviction is achieved. If you have opted for the vacant possession cover you will receive a further two months rental cover at 75% of the monthly amount assuming the property is not let.

    Any deposit taken will be used against the final payment provided it has not be used against dilapidations.

    The full claims process is outlined in the claims flowchart document.

Still need help

Speak to our team
01603 649727
Agent log in
Request a callback
Callback Enquiry - Lettings
  • Contact Details

  • If applicable
  • This field is for validation purposes and should be left unchanged.
Ask a question
Ask a question (Lettings)
  • Contact Details

  • If applicable
  • This field is for validation purposes and should be left unchanged.
Adam Weedon-Luck

Senior Insurance Adviser

Adam has been working in insurance broking since 1998. He has worked for a number of different Norfolk-based brokers and started at Alan Boswell Group…

Jennifer Silverman
Jennifer Silverman

Insurance Adviser

Jen studied Technical theatre and production, working on many productions at “The Questors” largest community theatre in Europe. Jen then pursued a career in Hospitality…

Simon Ventham
Simon Ventham

Projects Manager

Simon has worked in insurance his whole career, having joined Sedgwick Insurance Brokers (now Marsh) after his A-levels. He subsequently moved on, spending several years…