burger-menu

No Deposit Insurance

Deposits are meant to help landlords cover any costs associated
with damage incurred by tenants

What is deposit replacement insurance?

Deposit Replacement Insurance is a legal expenses policy to cover you for legal expenses up to £50,000 if there is a dispute with your tenant for damage found following a mid-term inspection or end of tenancy check-out.

If the insurer is unable to negotiate a settlement, the insurer will pay up to 6 or 12 weeks rent for damage and rent arrears depending on the level of cover selected.

deposit-replacement

Deposit Replacement Insurance covers

50,000 Legal Expenses

To negotiate any dilapidations dispute with your tenant following an end of tenancy check out or mid-term inspection

human-rights
6/12 weeks rent for arrears or dilapidations

Where we are not able to negotiate a settlement in respect of your claim, the insurer will instead pay the amount you are claiming from the tenant, subject to a maximum amount equivalent to 6 or 12 weeks' rent.

75-of
No Excess

There is no excess to pay under this insurance

living-room
types-of-properties

Types of contracts covered

Types of properties covered

Why Choose Deposit Replacement Insurance?

  1. As a landlord, Deposit Replacement Insurance provides you more protection than a standard cash deposit. A cash deposit is limited to just 5 weeks rent meaning if a tenant causes damage with a value more than 5 weeks rent, you may need to take further legal action
  2. Deposit Replacement Insurance covers you for legal expense up to £50,000 for the insurer to try to negotiate a settlement between both parties. Where the insurer cannot negotiate a settlement, the policy.
  3. By taking Deposit Replacement Insurance, the tenancy becomes a no deposit tenancy, meaning you don’t have to adhere to the regulatory burden associated with taking tenancy deposits.
deposit-replacement
coins
Up to £50,000

insurance cover for your legal expense

more-protection
More protection

than a cash deposit, limited to 5 weeks rent

no-deposit-tenancy
No deposit tenancy

No need to adhere to the regulatory burden

FAQ’s

Do I get my premium at the end of the tenancy?

No, this is an insurance policy therefore the premium does not get returned at the end of the tenancy

angle
How much is a deposit replacement scheme?

Price is around one weeks rent.

angle
How do I Buy Deposit Replacement Insurance?

If you are looking to take out cover following a successful reference, you can buy Deposit Replacement Insurance through our online portal. You may need to speak to your account manager to get this product activated. If you are looking to benefit from cover on a rent deal, please send an enquiry via this link and a member of the team will get back to you asap.

angle