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Interested to hear what companies you use for Rent Guarantee insurance.
I've had a look at a few online and so far it seems Openrent seem to have the best offering. £89/year with no excess fees.
Are there any other companies that you use or would recommend?
Would also be great to hear from anyone who has actually claimed
Any thoughts on this?
I have a looked at a few others such as Alan Boswell and Tenant referencing, but found that if you ever had to claim, the excess is one month's rent. That's not helpful for the situation where the tenant decides to use the deposit to pay for last month's rent. You would be no better off.
Thanks for checking out our RGI. Would be really interested to hear your experience with it if you choose to go with the policy. I think it's the only one at that price that has no excess, but we're always looking at ways to improve our products!
The UK's largest letting agent. No admin fees for tenants, first listing free for landlords!
Proud OpenRenter, reluctant lead tenant.
Hi Sam, thanks for your reply.
Do you mind answering a few of the following questions which would help not only me but many other landlords in my position...
1. At what point the would a landlord be able to claim? E.g. If rent is overdue by one month, 2 months, etc.
2. What does the process entail? E.g Would I need to start court proceedings/show signs of retrieving unpaid rent before you step in?
Hi Sam, please can you advise on the above? I have tried calling to discuss but cannot get through.
Hi Adam, apologies, I don't drop in to PT as often as I could!
The terms of our RGI are explained in full detail: https://www.openrent.co.uk/rentguardrgi/getpublicrgipolicy
Hope that helps
We can offer different "flavours" of Rent Guarantee Insurance to suit - Excess, Nil Excess and all covering rents upto £4000 pcm.
15 years experience in this industry and part of Barbon Insurance Group we have a good track record on claims and have our own inhouse claims team.
Would be good to see if we can help.
Hi Mark, thanks for your reply.
Interesting about the different types of excess. I can't see the costs for these anywhere on the website, how much would this range from?
Also a few more questions if you don't mind...
3. What are the requirements for the referencing?
4. Do you reference against the tenant or the property?
Thanks in advance.
I think it's easy to just pick any RGI company and feel 'safe' however the devil is in the detail. Looking into some of these companies the process for actually claiming can be quite cumbersome so very keen to pick the right insurer.
Too much to go through in a basic reply and in truth if you get hold of us we'll get one of our specialist team to call you back and go through all this with you.
Get hold of us and we'll go through it with you specifically for your details.
None of this info is on your website, not even price.
I asked some basic questions which you deem 'too much to go through'.
Regardless, I called up but no answer.
Called again, this time I was told I'll get a call back, never did.
I've never heard of your company and all the above doesn't fill me with confidence so won't be using you this time.