First2Protect is providing a tailored adaption of Addept’s rent insurance to provide core levels of cover for landlords to protect themselves against mortgage arrears resulting from unpaid rent and the legal fees associated with the eviction and repossession of their property.
Landlords will be able to select a cover limit equal to their monthly mortgage or rent payment.
Richard Finan, managing director of Addept Insurance, said: “With the implementation of the Renters’ Rights Act, the role of rent guarantee insurance has never been more important. Against a backdrop of anticipated increases in levels of rent arrears and eviction costs, which will inevitably result in an upward pressure on rent guarantee insurance premiums, our partnership with First2Protect provides landlords with innovative and affordable protection.”
Mark Batten, managing director of First2Protect, said: “Addept Insurance’s understanding of the new and emerging risks facing landlords from the act makes them a perfect partner to enable us to respond to the changing private rental sector landscape, providing our landlord customers with a solution that ensures continued affordability and protection against the elements risk exposure of most concern to them.”
