When landlords find themselves in a difficult situation, insurance can offer support.

There are plenty of reasons why your rental income may dry up beyond a period of inoccupancy. Here are four circumstances which can be covered with loss of rent insurance:

Financial difficulties

Either you’re not receiving rent, in part or in full, or you’re in-between tenants after your previous occupant went into arrears. Either way, you may feel the financial struggles of your tenant more keenly if you’re a full-time landlord or rely on rent to cover the mortgage.

Useful insurance: Rent cover

Refusing to leave

Even if a tenant has been served an eviction notice, they are entitled to stay in the property until they’re evicted by the courts. They may do so in order to be classed as unintentionally homeless so they’re qualified to receive support from their Local Authority. This could push back the start date of a new, paying tenant.

Useful insurance: Rent cover and legal expenses

Squatters

Dealing with people who have trespassed and are living in your property can turn into a long and complicated process, and you could be losing rental payments in the meantime. While costs can’t be awarded to you against the squatters, who are unnamed defendants, you could recover legal expenses through your insurance, depending on your policy.

Useful insurance: Rent cover and legal expenses

If you’re not sure about what’s covered on your landlord insurance, speak to Lockyers so you can be clear on your policy.