Legal cover, also called legal expense insurance allows landlords cover in case of any legal issues and action involving court proceedings with a tenant. This provides the landlord with assurance and is especially suited to landlords with two or more properties and for HMO owners where multiple tenants reside.
Legal Cover also supports landlords with property damage, nuisance and trespass, and even with repossession if need be. If you don’t have upfront rent guarantee insurance – Reddbox also offers this plan – then legal cover will also chase payments in arrears on your behalf. Legal cover provides peace of mind to smaller landlords and is an absolute must if you intend to grow your property portfolio.
Rates for as little as £35 per month are being offered by various providers and rates vary depending on how comprehensive the plan is. Standard rates are normally between £25 and £35. The UK’s largest insurance broker Adrian Flux offers a basic protection for £19,99 but £140 for a comprehensive cover including rent protection. You may find that pricier home insurance plans come with legal cover included but if they don’t then shopping around for a good rate may mean you can take out a separate plan for cheaper than purchasing an all-comprehensive home insurance plan.
One More Thing:
Reddbox has just launched new insurance plans, allowing you to secure nine months of rent upfront, take out home insurance and as a free additional gift , insure electronic devices under the gadget insurance plan. You can still hire tradesmen and store documents all in the app, and let Reddbox calculate the figures for you, in time for the Making Tax Digital mandate.
Our offer: Download the app and start saving time managing your properties. Follow the screens to provide your details, and that’s it. Some of the key features why you should consider Reddbox are –
- A completely app-based, super simple service booking process.
- Options to pay for the service over a few months without any additional interest or fee. See our rates here. Be quick, we are running promotional rates at the moment.
- You can book the service seven days a week, which means no need to disrupt your busy day.
- A very transparent cancellation and refund policy.
- And the best one – Reddbox will automatically organise all the relevant documents such as invoices and certificates.