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Rent Guarantee Insurance via Letting Agents

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Nick
Nick
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Has anyone had any experience with Leaders Letting Agents selling Rent Guarantee insurance.
I asked if the cover would apply if tenants were unable to pay due to Covid 19 and was advised that cover would be in place. The premium is double the premiums of other similar products but I though on this occasion I would take this premier cover.
Leaders have since advised cover for Covid 19 has been removed and are saying that Leaders themselves underwrite the guarantee and as a business they cannot take this risk.
This sounds like they are not actually selling an insurance product but collecting premiums and changing terms that are risky and therefore not taking the risk.
I would have expected the cover to be good for a 12 month period but could be subject to a variation of the terms at renewal stage but not after the cover at been put on risk.

14/05/2020 13:31

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