Do you still ask for Deposits when you rent out your property?  Find out how deposit replacement insurance can help you. 

Although requesting a cash deposit when you take on a new tenant has been normal, now there is a quicker, simpler and more suitable alternative…

a *Tenant Deposit Legal Protection Policy.

Deposit Replacement Insurance is a simple alternative to a tenancy deposit scheme that costs the equivalent to one week’s rent. 

Deposit Replacement Insurance

From only £85, including Insurance Premium Tax, we can provide you with more than a deposit can, including:

  • Legal costs and expenses - up to £50,000 to negotiate settlement of any dilapidations claims.
  • Legal costs and expenses - up to £50,000 to pursue your legal rights if your tenant has absconded before dilapidations inventory was completed

A deposit is not a legal requirement and can also be a heavy administrative burden for the landlord or letting agent- pass the job over to the experts and arrange deposit replacement insurance instead. 

Benefits for Landlords

  • No need to worry about holding a tenant’s deposit in a costly national scheme
  • No excess to pay in the event of a claim
  • No hassle with the tenant
  • Overall, less hassle, less admin and no cost to you as you can re-charge the premium back to your tenant
  • No risk of legal action from failing to adhere to the deposit rules

Benefits for Agents

  • Considerable savings in cost and time for the administration of deposits
  • Fresh impetus to the market as tenants can move more easily and without the requirement of finding a large deposit
  • Avoids legal risk and duties around handling and protecting tenants’ cash
  • A commission on each tenancy, including renewals

Benefits for Tenants

  • Not having to find up to 6 weeks’ rent as a cash deposit with every rental- just an insurance premium equivalent to around one week’s rent
  • Ability to move more quickly from property to property
  • No waiting for the return of deposit between moves
  • No hassle with landlord regarding TDS or arbitration at the end of the tenancy

*This policy is only available where your tenant has passed a referencing procedure from an approved tenant referencing agency and has a tenancy agreement in place.         

This is a 12-month policy with no excess to pay.

Other Products

Rent Guarantee

Gain full coverage and no longer worry about non-payment of rent with a Landlord Legal and Rent Protection Policy.

Landlords Emergency Assistance

Designed to provide emergency assistance to prevent damage or further damage to your property.

Landlords Building Insurance

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