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Deposit Replacement Insurance
for letting agents

Attract more tenants and let your properties faster while ensuring your landlord receives more protection than a traditional cash deposit. 

Reduce the upfront cost for your tenants

A tenancy deposit is a security for the landlord which can be claimed against if the tenant does not fulfil the terms of their tenancy agreement. In an ideal world, the landlord would have immediate access to this money quickly in the event of any issues to fund necessary repairs to the property caused by the tenant. However, if a tenant disputes the landlord's claim it can be a time-consuming task for the landlord to get what is owed to them.


With Deposit Replacement Insurance you can:


Attract more tenants

By minimizing upfront expenses associated with your properties, you can draw in a larger pool of potential tenants for your landlords. Promoting properties as deposit-free will generate greater interest and enable tenants to move in swiftly with fewer initial costs, ultimately reducing periods of vacancy.


Offer increased protection for your landlords

Offering £50,000 in legal expenses coverage and providing payment equivalent to 6 or 12 weeks of rent, your landlords will enjoy greater protection compared to a typical 5-week cash deposit.


Elevate your service

Integrating Deposit Replacement Insurance into your business enables you to enhance your revenue by providing a comprehensive service to your landlords

What is Deposit Replacement Insurance?

Deposit Replacement Insurance protects your landlord's properties against damage caused by the tenant during the tenancy. The landlord will receive cover for up to £50,000 in legal expenses if there is a dispute with their tenant following an end-of-tenancy check-out or mid-term inspection. If the tenant absconds or the insurer is unable to negotiate a settlement, the policy will pay up to 6 or 12 weeks' rent for damage and rent arrears.


Key benefits: 

  • Who is the insurer of your Tenant Contents Insurance
    Our Tenants Contents cover is underwritten by a panel of cherry picked insurers consisting of Axa, LV, RSA and UK General.
  • Who should i contact in the event of a claim?
    In the event of a claim, you should contact your underwriter which will be detailed on your certificate of insurance.
  • Can i transfer my No Claims Discount (NCD) from another policy?
    Yes. If there is more than one person named on the policy with two different NCD, the higher can be used I'm sharing the property but the only one named on the tenancy agreement.
  • Are we all covered by this policy?
    The policy covers you, your partner and any other person permanently living with you under their tenancy agreement (including any children or foster children). The policy does not cover lodgers or other tenants not covered under your tenancy agreement.
  • What is the cooling off period for this cover?
    There's a 14 day cooling off period from the start of the policy. In the event of cancellation after the cooling off period, a pro rata refund will be given if no claim has been made.
  • What is the most i can claim for one item?
    The most you can claim for any one valuable is £2,500 unless the item is specified on the policy.
  • I work from home, is my business equipment covered?"
    Business equipment is covered up to the sum insured for clerical work only. Business equipment is defined as computer equipment, printers, photocopiers, computer aided design equipment, office furniture and furnishings and telecommunications equipment used in any way for business purposes. This does not include any property held as stock.
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