Buildings Insurance
How do I find out my re-build value?
If you have had a recent valuation on your property, the rebuild value is often noted in the report. If you do not have a valuation report, we recommend that you consult a chartered surveyor, who will be able to give you a valuation for the property. Alternatively, click on “Estimated Re-build values”, and our online calculator will work out your estimated rebuild value.
Do you need to know who my tenants are?
No, the tenant type (i.e.: Working, DSS, Student, etc) will help us to determine your premium, but we do not require the names or occupations of your tenants.
Does “Loss of Rent” cover me if my tenants do not pay their rent?
No, “Loss of Rent” is included as standard with all residential property insurance. It protects you if your property is made uninhabitable, due to one of the insured perils, such as fire or flood. Defaulted rent payments can be covered under “Legal expenses and Rent Guarantee” insurance.
Can I take a policy out for a few weeks/ a month/ 6 months etc?
All new Rentguard policies run for the period of 12 months. However, if you already have a Rentguard policy, and would like to take out another, we can ensure that both properties have a common renewal date. This means that the premium will be pro-rata to reflect the cover dates.
A small percentage of the roof is flat, is this OK?
Any percentage flat roof MUST be declared to Rentguard at the time of taking up a policy. If the flat portion amounts to more than 10% of the total roof area, your premium may be subject to some loading.
Can I have my mortgage interest noted on the policy?
Yes, simply tell us the name of your mortgage lender, and we will note their interest on the schedule.
Can you fax my new policy details to a third party (solicitor, mortgage lender etc)?
Yes, once the policy has been set up, at the policy holder’s request, we can fax/email/post policy details to any third party required.
Will you be able to cover only the flat above a shop?
Yes, as long as the flat above has a separate entrance to the shop, we can cover the flat only. It is the responsibility of the policy holder to ensure that any other parts of the building are insured.
I own my home, but have lodgers, would I need a landlord policy?
No, in the case of lodgers, a Homecare owner occupier policy would be set up. Any lodgers must be disclosed to Rentguard at the time of taking up the policy. Our Homecare policy allows for up to 4 lodgers in any one dwelling.
My property is let to the local authority, is that okay?
Yes, there must be a tenancy agreement in place between the landlord and the local authority. It is the responsibility of the landlord to find out what type of tenants will be occupying the property (i.e.: working, DSS family, etc), as this will affect your premium.
My property consists of bed-sits, does this affect my premium?
No, we can cover properties composed of up to 10 bed-sits, with no loading to your premium. All bed-sits must have their facilities approved by the local authority/fire service.
Contents Insurance
How do I work out my Contents Sum?
The contents sum is the total sum of all of your belonging s, including carpets and curtains. Contents cover does not include fixtures and fittings, as these are covered under buildings insurance.
What is the minimum/maximum for contents cover?
We do not have a minimum contents sum. The maximum contents sum for Landlords insurance is £30,000.00. With regards to Homecare owner occupier insurance, we can cover up to £60,000.00 of your contents, but will consider higher values.
I live in a shared house; can you cover my personal contents only?
Yes, as long as your room is lockable, we are able to cover solely the contents within it. This option is ideal for students, and those living in shared accommodation. We are also able to cover you if all of the residents of your accommodation would like to take out one tenant’s contents policy.
Accidental Damage Cover
Do Rentguard policies include accidental damage?
Yes, Accidental damage is available as an additional product on Homecare owner occupier insurance, and tenant’s contents insurance.
Our Landlords household policy covers you for accidental damage to audio and audio visual units (such as television sets), and accidental breakage of fixed glass, sanitary fixtures, glass in furniture, and ceramic hobs.
Our commercial policies include accidental damage, as standard.
What does accidental damage cover?
Accidental Damage cover will set out to include any damage by external or accidental means. If your buildings insurance policy includes Accidental Damage, you will be covered for incidents such as putting a foot through the loft floor. If you have Accidental Damage cover on a contents policy, you are covered for incidents such as spilling a glass of red wine on a white carpet.
Amendments & Cancellations
Does it cost to make an amendment?
No, Rentguard does not charge to make any mid-term adjustments or amendments. Simply contact our customer services department, and we will be happy to help you.
My property has gone up in value so should I increase my re-build value?
If the re-sale value of your property has increased, this does not necessarily mean that the re-build value has as well. In cases like this, it is best to contact a chartered surveyor, who will be able to advise you of your rebuild value.
What do I do if my tenant type changes?
If your tenant type changes (i.e.: from students to working people) you must inform Rentguard as soon as possible, as this may affect the terms of your policy. You may also be required to pay an additional premium, or entitled to a refund, dependent on the circumstances.
Can I add a name/transfer the policy to another name?
Yes, you are able to take out our insurance policies in multiple names. If you no longer own the policy, and would like to transfer it into another name, you will need to submit this request in writing, as well as the new policy holder’s contact details.
What is the Cancellations Procedure & how much is the Cancellation fee?
You are entitled to cancel your insurance policy at any stage during the policy term. You are entitled to a period of 14 days in which to consider the content of your insurance policy, and the extent of the cover therein. Cancellation of your policy within 14 days is therefore subject to a full refund. After 14 days, cancellation of your insurance policy will be subject to the normal terms and conditions of the policy wording, and you may incur a cancellation charge.
Cancellation after 14 days will be refunded pro rata, less 15% of the total premium.
If I cancel my direct debit with my bank will that cancel my policy?
No, in order to cancel your policy, you need to contact Rentguard directly. Please see our “Contact Us” page for details of various contact methods.
How do I change the bank account my Direct Debit is taken from?
In order to change the bank details of your Direct Debit, you will need to contact Rentguard directly. Please see our “Contact Us” page for details of various contact methods.
Insurers/Underwriters
Who are the underwriters?
Rentguard policies are underwritten by Lloyds/Zurich Group through R.J. Kiln & Co, syndicate number 510.
Claims
I have a leak – How do I make a claim?
If you have suffered loss or damage, and are looking to make a claim, a claim form will be sent out to you. This will need to be completed in full and sent back to us, accompanied by a minimum of two detailed estimates. Claims must be reported no longer than 30 days after the incident.
Can I get work done straight away, if I have suffered loss/damage to my property?
Only emergency work to prevent further loss can be undertaken, for example, boarding up a broken window. Under no circumstances should full repairs be carried out without our prior consent.
Payment Details
What are the payment options for placing policies?
You can pay for your Rentguard policy by Credit/Debit Card, Cheque, or Direct Debit. Rentguard agents have the additional option of setting up an account with us, paying for all business on a monthly basis.
Can I pay monthly?
Yes, our Direct Debits are subject to a 10% premium charge, and the instalments are spread over nine months.
Is there an extra charge if I pay by credit card?
No, there is no additional charge for paying by Credit Card
I have two (or more) properties insured with you, do I receive a discount?
No, we can offer a block scheme if you place five or more policies with us at one time, but not on two policies.
Unoccupied Properties
How long can I leave the property unoccupied?
Your property can be left unoccupied for 90 days, before you need to contact Rentguard to inform us of the change in occupancy. If the property is left unoccupied for 14 days, it must be inspected at fortnightly intervals. Please see the Landlords Household policy wording for further details of the unoccupancy clause.
My property is currently unoccupied. Does full cover still apply?
If your property is unoccupied and furnished enough for normal habitation, full cover will apply. However, if the property is unfurnished, or undergoing any structural work, cover may be limited during that period.
I have a second home that is unoccupied for six months of the year; do I need “Holiday home” or “Unoccupied” insurance cover?
If you have a second home, or holiday home within the UK, it would need to be insured as a “UK Holiday Home”, under the Landlords Household policy.
General
Does the premium include IPT?
Yes, the premium is calculated including Insurance Premium Tax (IPT) at 5%
What is FLEA, and what cover is included in FLEA?
FLEA cover stands for FIRE, LIGHTNING, EXPLOSION, and AIRCRAFT. If you are covered for FLEA only, it means that these are the ONLY perils covered, however, public liability is still included.
Is the policy index linked?
Yes, at each renewal, your building sum will be reviewed, and increased in accordance with the percentage index linking, in line with inflation. This ensures that as it becomes more expensive to rebuild your property, your insurance is sufficient to cover it.
Why has my premium gone up from last year?
If you have renewed a Rentguard policy, your premium will have increased from last year. This is because the building sum will have been index linked (see previous question).
I have a landlord’s policy, but I’m moving into the property myself. Will this affect my policy?
It is possible to live in your policy between lets, and this will not affect the validity of your insurance.
I have had one claim for £1500 this year. Will this affect my premium?
Possibly, depending on the nature of the claim, your premium may be loaded. Please ensure that Rentguard are aware of any claims you have made in the last five years, or the validity of your insurance could be at stake.
If I sell my property, can I transfer the same policy to another insured address?
No, if you have sold one property and purchased another, we cannot transfer the policy over. You will need to cancel the original policy, and set up a new policy, for the new property.
Does my Insurance cover me for injury suffered to my tenants in my property?
Yes, Legal liability for injury to others or damage to their property arising from ownership of the building is covered. The indemnity limit is £2 Million. This is distinct from the Contents section which covers legal liabilities in respect of occupancy of a building.
