In an uncertain world, it's good practice to obtain protection. Tenants’ circumstances can change for any number of reasons, so it’s prudent to minimise the risk to income. Rent Indemnity can assist to protect rental income. The BIBALet insurance policy provides:
- Rent Insurance; protection to pay the monthly rent for up to 12 months on breach of tenancy agreement
- 100% of the rent paid for 12 months or until full and vacant possession is obtained, whichever happens soonest
- 75% of the rent paid for up to 2 months once full and vacant possession is obtained until the property has been re-let
- Covers monthly rents up to £10,000
- Cover is only available for properties to be insured within England, Scotland, Wales or Northern Ireland.
- Insurance premiums are a tax deductible expense
The BIBALet Rent Indemnity protection is not a stand alone product and can only be purchased in conjunction with the BIBALet Legal Expenses cover.