UK Landlord Forum / Life

Hi all.

Looking for some advice. Firstly bit of background been with same agent for 5 years and each year paid a rent protection premium which kicks in month 2 for a max of 6 months.

Covid hit and my tenant stopping paying the rent and eventually after a year they finally we're evicted.

However when I asked my agent for my rent protection they advised they were unable to pay due to covid and had many claims which they simply cannot afford to settle.

I chased on numerous occasions to be told nothing they could do.

Any advice on my next steps? Rent amount is £1300 per month so 5 months worth is £6500.

Many thanks for your help.

So they're telling you that it was pretty much always optional whether you got paid-out or not?

I know which option I'd choose. I wouldn't pay any person claiming anything. Not very helpful, I know... I would've thought the agreement or contract or terms would've been, somehow, quite binding? I'm too gullible I suppose.

They won't be financing this themselves surely? Who is the underwriter? It would be very interesting to know if they are continuing to sign up new clients to this scheme,which could be fraud if they are actually insolvent. I dropped all these types of cover way back,having found they have so many ways of wriggling out of it.I only have insurance that is required by law. I would be speaking to CAB or a solicitor in your position.

Yes they are financing it themselves apparently on the basis that they have had historically so few claims. Thanks for the advice I will contact a solicitor.