LANDLORDS RENT & LEGAL PROTECTION. Policy Summary.

Transcription

1 LANDLORDS RENT & LEGAL PROTECTION Policy Summary

2 LANDLORDS RENT & LEGAL PROTECTION Policy Summary This document provides a summary of the cover available under this policy. Full details can be found in the Policy Booklet, a copy of which is available at or by contacting our Customer Services team. A copy will also be sent to you if you purchase the policy. If you have purchased a policy, please refer to the Policy Booklet and your Policy Schedule (which includes any endorsements that apply) for full details of your individual cover. On receipt of your Policy Booklet, you will have 14 days to decide if you wish to cancel the policy - see Your right to cancel on page 5 for more information. This policy is arranged by The Lettings Hub Limited, an Appointed Representative of Let Insurance Services Limited (LIS). This policy is managed and provided by Arc Legal Assistance Limited and is issued for and on behalf of the insurer, AmTrust Europe Limited (AmTrust Europe). Policies can be an annual or six month contract and may be renewed subject to the terms and conditions then applicable. You will be covered for legal costs incurred in relation to repossession of your property, property damage, eviction of squatters and rent recovery. In addition you will be covered for rent arrears, legal defence, hotel expenses and storage costs. You also have access to our additional telephone services for legal advice, domestic assistance and counselling. Policy Limit You may claim for up to 75,000 of legal expenses and rent protection cover. Territorial limits This policy covers rental properties within the United Kingdom of Great Britain and Northern Ireland. Applicable law This policy will be governed by English law. Comprehensive reference To qualify for cover under insured incident 5 (rent arrears) you must have obtained a satisfactory comprehensive reference before the tenancy started, unless your tenants have already been occupying your property for 12 months or more with no breaches of the tenancy agreement. A comprehensive reference is defined as an Elite reference from The Lettings Hub showing an Accept decision on the tenant(s) or guarantor(s) named in the tenancy agreement and where all conditions noted in the reference have been met. The comprehensive reference must have been carried out up to 60 days before the tenancy started. This can be extended to 180 days for students. If you do not have an Elite reference from The Lettings Hub, we can accept other references however we will need to review them to ensure the following have been obtained: a credit-history check from a licensed credit referencing provider, including the Enforcement of Judgments Office and showing any County Court Judgments and bankruptcy; proof the tenant or guarantor can afford the rent for the duration of the tenancy; a reference from the tenant s previous managing agent or landlord (if applicable); The comprehensive reference must have been carried out by an approved tenant referencing provider. General exclusions or limitations It must be more likely than not that you will recover damages or make a successful defence of your civil claim. You will not be covered for any costs incurred before we agree to pay them. We are free to choose a lawyer to act on your behalf, unless we agree to start proceedings or there is a conflict of interest. Claims Excesses Standard excess Nil 1

3 1. Repossession Legal costs incurred in gaining possession of your property from your tenants. Your property must be let under: an assured shorthold tenancy; or a short assured tenancy; or an assured tenancy. You must give the tenant the correct notices telling him or her that you want possession of your property. Where a tenancy agreement was already in place before the start of the insurance period and where there has been no legal expenses or rent protection policy continuously in place since the start of the tenancy, any claim arising within the first 30 days of the policy will not be covered. 2. Property damage Legal costs incurred in pursuit of your legal rights after an event which causes physical damage to your property. The amount in dispute must be more than 1, Eviction of squatters Legal costs incurred to evict someone living in your property without your permission. 4. Rent recovery Legal costs incurred in recovering rent owed by your tenant. Rent arrears must have been overdue for at least one calendar month. Registering rents, reviewing rents or any matter to do with rent, rate or land tribunals, rent assessment committees and rent officers will not be covered. Where a tenancy agreement was already in place before the start of the insurance period and where there has been no legal expenses or rent protection policy continuously in place since the start of the tenancy, any claim arising within the first 30 days of the policy will not be covered. 2

4 5. Rent arrears We will pay the rent arrears while your tenant or ex-tenant still occupies your property. If after vacant possession damage to your property needs to be repaired to enable you to re-let it, we will pay 75% of your rent arrears for a maximum of two months or until your property is re-let, whichever happens first. Cover will only be provided if repossession is being sought under insured incident 1 (Repossession). Before the tenancy starts you must have obtained a satisfactory comprehensive reference. Where a tenancy agreement was already in place before the start of the insurance period and where there has been no legal expenses or rent protection policy continuously in place since the start of the tenancy, any claim arising within the first 30 days of the policy will not be covered. 6. Legal defence Legal costs incurred to defend criminal prosecutions against you relating to the letting of your property and actions for unlawful discrimination. We will not pay fines, penalties, compensation or damages which you are ordered to pay by a court or other authority. We must agree that it is always more likely than not that the appeal will be successful. Hotel expenses We will pay your hotel expenses while you try to get a possession order for your property so that you can live in it. Cover is for up to 150 per day for a maximum of 30 days. Storage costs We will pay to store your household possessions while you are unable to reoccupy your property. Cover is for 10 per day for a maximum of four weeks. 3

5 Additional Telephone Services Legal helpline Advice on personal legal problems within UK and EU law. I Any costs incurred as a result of you following the advice given are your responsibility. Domestic assistance helpline We can arrange to call out a contractor to fix the problem in the event of an emergency affecting the property. Counselling helpline Qualified counsellors provide support in dealing with worrying problems. 4

6 mportant Information Your right to cancel If having read your policy you decide not to proceed with the insurance, you will have 14 days to cancel it, starting on the day you receive the policy documentation. To cancel please write to The Insurance Team, The Lettings Hub, 8 Axon, Commerce Road, Lynch Wood, Peterborough, PE2 6LR or call On receipt of your notice, we will refund any premiums already paid, except when you have already made a claim under your policy. Claims Should you wish to claim under your Landlords Rent & Legal Protection policy you should call our Claims Helpline on within 45 days of the insured incident occurring. You must provide any information or help that is requested. You must not settle, reject, negotiate or agree to pay any claim without our written permission. Full details of how to claim are included in the Policy Booklet. Complaints Our goal is to provide excellent service to all of our customers. If you are unhappy with the service provided for any reason or have cause for complaint you should initially contact our insurance Customer Services team at rentprotection@lettingshub.co.uk or on They will tell you what they will do to resolve your concerns and how long it will take. If you would like to make complaint under your policy please advise our Customer Services team or consult your Policy Booklet for full details. If after 40 working days you still feel unhappy and that the matter has not been resolved to your satisfaction, you can contact the Financial Ombudsman Service (FOS). The FOS is an independent organisation and will review your case. Compensation Arc Legal Assistance Limited (Arc Legal) is covered by the Financial Services Compensation Scheme (FSCS). This provides compensation in case any member goes out of business or into liquidation and is unable to meet any valid claims against its policies. You may be entitled to compensation if Arc Legal cannot meet its obligations, depending on the circumstances of the claim. Further information about the compensation scheme can be obtained from the FSCS. Premiums and payments Premiums are inclusive of Insurance Premium Tax. You must pay for your policy in full. Premiums may be paid by debit or credit card. Renewing your policy We will tell you the premium and terms and conditions that will apply for the following year in good time before each policy renewal date. If you wish to change or cancel the cover then please tell us before the renewal date. You must reconfirm and arrange payment with us again if you wish to renew the policy. You will have 14 days to cancel the policy after the renewal date and receive a refund of any premiums paid, as described in Your right to cancel on page 5. Termination of the contract You may cancel the contract by contacting us. If you cancel the policy within 14 days of receiving your policy documents or the start date of your policy (whichever is later), you may be entitled to a refund of your premium provided that no claim has been made during the current insurance period. If you cancel your policy after 14 days, we cannot offer refund of your premium. We may cancel this policy by giving you at least 14 days notice at your last known address. If we cancel the policy we will refund premiums already paid for the remainder of the current insurance period. The law and language applicable to the policy The policy is governed by English Law. The language used in this policy and any communications relating to it will be English. The Lettings Hub The Lettings Hub Limited is an Appointed Representative of Let Insurance Services Limited. The Lettings Hub, The Landlord Hub and LetRisks are also trading names of Let Insurance Services Limited, registered in England and Wales no Let Insurance Services Limited is an independent intermediary and is authorised and regulated by the Financial Conduct Authority. The company is entered on the FCA register ( under reference Insurers The Lettings Hub Landlords Rent & Legal Protection is managed and provided by Arc Legal Assistance Limited, and the policy is underwritten by AmTrust Europe Limited, on whose behalf Arc Legal Assistance act. Arc Legal is authorised and regulated by the Financial Conduct Authority under reference number AmTrust Europe is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. AmTrust Europe s Financial Conduct Authority reference number is You can check the details on the FCA s website by visiting or by contacting the FCA on or

7 The Lettings Hub, The Landlord Hub and LetRisks are trading names of Let Insurance Services Limited, an independent intermediary authorised and regulated by the Financial Conduct Authority. The company is entered on the FCA register ( under reference Let Insurance Services Limited is registered in England and Wales Registration No The registered office is at 8 Axon, Commerce Road, Lynch Wood, Peterborough, PE2 6LR. The Lettings Hub Ltd is an Appointed Representative of Let Insurance Services Ltd. The Lettings Hub Ltd: Registered in