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Tenant default insurance

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Trusted by 800,000 customers

Insuring businesses and landlords for over a decade

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Satisfaction score of 9/10

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Award-winning claims team

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Protect your rental income

Even the most reliable tenants sometimes struggle to pay their rent. Statistics published by LSL Property Services show that 65,000 tenants in the UK are in ‘severe arrears’ of at least two months.

Tenant default insurance from Simply Business provides vital back-up for landlords – it can cover your rental income if your tenant fails to pay rent.

As long as you perform credit checks and background checks on your prospective tenants, you can add tenant default cover to your Simply Business landlord insurance policy. Just start your quote below and choose tenant default insurance as part of your landlord insurance package.

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Landlord insurance covers

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What is tenant default insurance?

Tenant default insurance - sometimes called rent guarantee insurance - is an extra cover that you can add to your landlord insurance policy. Create a tailored policy by adding it to core landlord covers like buildings insurance and landlord liability insurance.

If you add tenant default insurance, you’ll be covered for up to 12 months of lost rent if your tenants fail to pay rent (up to £50,000). There's no cap on the monthly rental amount you're covered for and there's no excess, which means you can claim from your tenant's first missed payment.

By choosing tenant default cover, you also get legal expenses cover as standard. This covers property-related legal fees up to £50,000, including legal action to repossess your property or pursue unpaid rent.

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A quick claim example

When your tenants moved in, you were confident they’d be trustworthy. They had passed their reference checks, were both employed and they had strong credit records. But a few months later, they’ve suddenly stopped paying their rent. They’re still living in your property, and you still need to pay the mortgage on the house.

What's covered?

Up to 12 months of rental income from your tenant's first missed payment, up to £50,000.

There's no excess and you also get legal expenses cover of up to £50,000.

why simply business

Why Simply Business?

  • We're the UK’s biggest business insurance provider
  • 9/10 ratings say we’re good (or excellent)
  • 800,000 customers (and counting)
  • Claims handled by an award-winning team
  • Quote comparisons available from multiple insurers
  • We run things from an expert, UK-based contact centre

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Watch the details

It’s very important to make sure you understand what you need from your insurance. Use the check points below to get you thinking.

  • If you employ people, even in your own home, you’re legally obliged to take out employers’ liability insurance. Not doing this could lead to a heavy fine
  • Make sure you read and understand any exclusions to your policy. Simply Business offers you the chance to read the policy documents in full before you buy
  • Remember that conventional home insurance policies will not cover a buy-to-let property

You should state the rebuild cost of your property, not its market value, when buying buildings insurance.

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Our score is based on the reviews we’ve collected on Feefo, the independent customer research specialist.

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It is a very good and easy to use service. I've been a customer for several years and the renewal system is very straight forward. I've always found the quotes competitive too. I'd definitely recommend Simply Business.

R Matthews, Handyman

Tenant default insurance

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© Copyright 2021 Simply Business. All Rights Reserved. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG.