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Rent Insurance - Frequently Asked Questions

WHAT WILL THIS PLAN DO FOR ME ?

It will make your monthly Rent payments to your landlord or your Landlord;s Agent when you canít - paying out when you are unable to work through Accident, Sickness or Redundancy.

IS THIS INSURANCE COMPULSORY ?

No, it is entirely up to you whether or not you wish to protect your Rent payments.

CAN I INSURE FOR MORE THAN MY MONTHLY RENT PAYMENT ?

Yes, under this plan you can insure up to 125% of the sum of your Rent, Life Insurance, Home Insurance, Council Tax, Gas, Electricity and Water. 

When claim payments are to be paid, YOU decide how the Monthly Benefit is to be paid. You can opt for your Rent to be paid directly to your Landlord or your Landlordís Agent with the balance being paid to you, or the whole Monthly Benefit being paid to you. IT IS ENTIRELY YOUR CHOICE and you do not need to decide until you make a claim.

If you require more cover than this plan offers, this can be arranged. Please contact: B Portwood & Co Ltd

HOW QUICKLY IS THE FIRST BENEFIT PAID ?

When you have returned your claim form fully completed, and supplied any other documents required by the claims department, they will make a decision on your claim, and inform you of it within a couple of days. If they agree your claim, and they hardly ever fail to do so as long as the Client has told the truth, the first full monthly benefit will become payable as soon as you have been out of or unable to work for thirty days, including weekends.

FOR HOW LONG IS THE ACCIDENT OR SICKNESS BENEFIT PAID ?

Until the expiry of one year from the start of any claim or until you return to work, whichever is the sooner. 

FOR HOW LONG IS THE REDUNDANCY BENEFIT PAID ?

Until the expiry of one year from the date of the start of your claim, or until you return to work, whichever is the sooner, giving you plenty of time in which to find another job.

HOW MANY TIMES CAN I CLAIM ?

There is no limit at all to the number of times you can claim, but obviously, only once at a time !

CAN THE PREMIUM INCREASE AFTER I COMMENCE THE PLAN ?

If the Insurer wishes to increase the rate of premium charged for the cover, the Administrator will formally give notice of this. This would allow B Portwood & Co Ltd time to seek alternative cover for you.

WHAT IF MY TENANCY IS RENEWED BEYOND SIX MONTHS ?

The cover will automatically continue so long as you pay the monthly premiums.

WHAT IF MY TENANCY CEASES ?

You may cancel at any time, and if you wish, switch to another of our cover packages.

WHAT IF MY MONTHLY RENT OR OTHER COSTS INCREASE ?

You can apply to us for increased cover.

WHAT IF MY OUTLAY DECREASES ?

You can ask us to reduce your cover

CAN I CANCEL THIS PLAN AT ANY TIME ?

Yes.

CAN THE INSURER CANCEL THIS PLAN ?

If the Insurer wishes to cancel the Plan, the Administrator will formally give notice of this. This would allow B Portwood & Co Ltd time to seek alternative cover for you.

ARE THE CLAIM BENEFITS TAXABLE ?

The first twelve months benefits are tax free, after that, tax is deducted at the standard rate Ė 20% as at July 2007.

HOW DO I MAKE A CLAIM ?

Contact DMS, they will arrange for the Claims Department to send out a claim form to you that night.

HOW QUICKLY IS A CLAIM PAID ?

As soon as you have submitted a completed claim form and any other documents requested, Claims department have agreed your claim, and you have been off or out of work for thirty days including weekends.

HOW MUCH COVER CAN I HAVE ?

The lesser of £1,500 per month, 125% of your monthly payment of Rent, Life Insurance, Home Insurance, Council Tax, Electricity, Gas, Heating Oil and Water, or 50% of your gross income (net profit if you are Self Employed).
July 26th 2007

Where are the rates?

If you have found this page directly then use this link to Obtain quote and apply for cover. or use this link for further information on our rent insurance - including rates

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