Rentguard Insurance has launched a unique new Property Owners Insurance product which is suitable for both home owners and residential landlords.
The product is underwritten by leading insurer XL Catlin and is designed to provide coverage for non-standard risks quickly and easily on a click and quote basis.
It offers blanket cover of £1 million on buildings and £65,000 on contents as standard.
The product covers the majority of non-standard constructions. In addition, criminal convictions (unless the individual has been to prison), CCJs, bankruptcies and IVAs are generally acceptable.
All listed property types are covered as well as properties which are undergoing work (depending on size of the works).
The Property Owners Insurance policy also covers properties which have businesses being run from the premises, such as hairdressing, B&Bs, childminding, video/photography productions. However, guest houses are excluded.
Buildings cover includes loss or damage against many standard perils, including fire, smoke, explosion, lightning, earthquake, flood, subsidence, theft, escape of water and malicious acts.
Up to 20% of the building sum insured for loss of rent and/or alternative accommodation costs are also covered.
Individuals taking out the policy can choose between Landlords Contents or Home Owners Contents cover which both have an option for accidental damage.
The household goods and personal belongings covered under each of these options will vary slightly however, contents are covered on both against storm or flood (depending on postcode), malicious acts or vandalism, theft or attempted theft as well as accidental breakage of mirrors and fixed glass in furniture and legal liability to the public as standard.
Additional optional covers include legal liability to domestic staff, family legal expenses and personal possessions if Home Owners Contents is chosen.
Teaming up with XL Catlin allows Rentguard to increase the range of products it has available to brokers, intermediaries and letting agents across the UK.
“We are pleased to introduce a new product to our agents which is underwritten by XL Catlin. This product is market leading, in that it is aimed at both residential landlords and homeowners. It is a good example of our aim to continuously improve products for our agents,” said Rentguard Director Steve Jones.