Landlord Legal Expenses Insurance provides legal advice and covers for legal costs should a dispute relating to your property and tenant(s) arise, such as legal action and court proceedings, up to £100,000. For example, you can benefit from having legal expenses insurance if a tenant damaged your property, if you need to evict your tenant(s), or if you wanted to seek unpaid rent.
Landlord legal insurance cover is essential for landlords who want to keep control of their property at all times. Usually tenancies run smoothly and there is little cause for concern, however, when it does go wrong there can be lengthy and costly legal disputes.
Benefits of legal expense insurance are:
See cover details below.
We appreciate that when you’re letting a property there needs to be a continuous income flow. If something jeopardises this income, action needs to be taken quickly. That’s why we have worked to develop Landlord Legal Expense cover; a product that covers the major legal issues a landlord could face and provides support, so situations are remedied quickly and efficiently.
Very professional and covering a section of the market where there is a limited number of providers
Landlord legal expenses cover is an important product for landlords who wish to protect their rental properties.
For the rent recovery section to be valid, a credit check indicating no CCJs in the last three years must have been undertaken prior to the claim.
If a tenants already occupy the property and you wish to take out this policy midway through their tenancy there will be a 90 day exclusion period before any claim can be submitted.
Cover is available for £30 if purchased in conjunction with an Alan Boswell Group landlord insurance policy. Alternatively it can be bought for £50 on a standalone basis.
As with all policies, there will be terms and conditions. The main consideration is when you are able to make a claim. For legal disputes the amount in dispute must be more than £1000. For eviction, the rent arrears must be over £250.
Nuisance emanating from a property is defined as something that causes inconvenience or damage to the use of your property. This could come in many forms, the most common of which are noise, smell and damp coming from adjoining properties.
Yes, the insurance is based on the property. As long as there is a tenancy agreement in place then the insurance will be valid. If you wish for full cover to be in place you will also need to reference the new tenant(s).
There is no legal requirement for the product, although it is highly advisable to avoid lengthy and costly legal disputes.
You can cover up 25 tenants on this policy in a student let/HMO (House Multiple Occupancy), although pricing will differ from a single tenancy.
As this is a legal policy a factor called “chance of success” is used. This means if there is a good chance of success in the courts (over 50%), the claim will be covered. This is to stop frivolous claims being pursued where there is limited chance of success e.g. where the correct procedures for notification of eviction have not been followed.
Yes. While not all elements of the policy will be active, you will still have cover under the legal advice helpline, tax investigation and repair and renovation disputes.
Comparing insurance quotes can be hard work. Steve Cox, Business Account Manager at Alan Boswell Group, provides his top 10 tips to help you find the right landlord insurance for your buy-to-let property.