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Daily Insurance Industry News
Thursday 16th of August 2018
October 27, 2009

New Rent Guarantee section in jml website

by Richard Kilner

Story link: New Rent Guarantee section in jml website

As the British recession stubbornly persists and unemployment continues to climb, more and more landlords are finding that their tenants are incapable of paying their rent.

To counter this, many consider taking out a Rent Guarantee Insurance policy from providers such as HomeLet and Letsure to acquire some protection should such a situation arise.

Landlords can find themselves in difficult if they lose their rent income, and Rent Guarantee Insurance can act as a financial safety net.

The number of missed payments is on the rise, with HomeLet paying out £1.5m in 2009 on Rent Guarantee Claims and legal costs, a significant rise on 2008.

In addition to the present economic woes, it is forecast that the jobs market will only stabilise five years after the recession, the longest and deepest since World War Two, finally ends.

Philip Suter of jml-property-insurance.co.uk has stated that Rent Guarantee Insurance now has its own classification on the website, highlighting the increased importance of the product.

 

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