Deposit replacement
insurance for agents
Offer landlords over 50% more protection than a traditional deposit whilst making moving more affordable for tenants.
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Covers equivalent of 1.5 or 2 months’ rent
Zero excess on claims
*If unchallenged by the tenant(s)
Claims paid within 30 days*
Faster lets
Advertising properties as deposit- free will generate more enquiries and lets tenants move faster with fewer upfront costs, reducing void periods.
It’s a win-win
Not only will moving be more affordable for your tenants, landlords also get extra protection over and above a traditional deposit of 5 weeks’ rent.
Simpler process
Save time spent administering cash deposits at the start and end of the tenancy – with BOX you can add deposit replacement cover in just a couple of minutes.
Add a policy anytime
Deposit Replacement Insurance is available at create a tenancy, mid tenancy and at renewal, releasing funds back to the tenant at a time when they may really need it. This also allows you to generate income at any point during the tenancy through a straight forward processes in BOX.
Integrated online
With our pre-tenancy management system, BOX, your tenants can set up their deposit replacement online as part of the tenancy application process.
Integrated with Reposit
BOX is also fully integrated with Reposit offering another deposit alternative solution, in addition to our own Deposit Replacement Insurance product.
What’s covered?
1.5 or 2 months’ rent
Giving landlords additional protection vs traditional deposits
Cleaning
End-of-tenancy cleaning if property is not left in a satisfactory condition
Dilapidations
Cost of repairs to damage which the tenant is responsible for
Unpaid rent
Can be used to cover any rent arrears owed to the landlord
Gardening
To restore outdoor spaces if not maintained by the tenants
Removing unwanted items
Removal of items left behind that don’t belong to the landlord
Other reasonable costs
Any recoverable costs due as compensation for breach of tenancy
Rents up to £8,000
Available for a wide range of tenancies even with high-value rents
As with any cover, limitations and exclusions apply. For full details and terms and conditions, please see the Policy Booklet and Policy Summary.