Vasek Launches New Dispute Cover Product For Landlords

Given the recent Tenant Reform legislation UK landlords might well consider legal dispute cover;

Vasek, the specialist landlord insurance provider, has launched a new legal protection policy designed to help landlords manage the cost of disputes, legal proceedings and other property-related challenges.

The product has been launched following the introduction of the Renters’ Rights Act and to help landlords manage the increasing number and cost of disputes they face. Recent research showed 35% of UK lettings agents have experienced a tenancy dispute, with 16% saying they have had to deal with multiple disputes.

Available alongside a buildings or contents policy, the cover provides access to legal expenses protection across a range of landlord-specific risks. Vasek’s Residential Landlord Legal

Protection Insurance provides up to £100,000 of cover for advisers’ costs in relation to:

• Tenant eviction and rent arrears

• • Legal action against a tenant to recover possession of the insured property.
  • Legal action against a tenant or guarantor for rent arrears owed in a tenancy relating to the insured property.

• Property infringement:

• • Legal action for nuisance or trespass in relation to the insured property.

• Property sale and purchase:

• • Pursuit or defence of legal action arising from a breach of a contract for the sale or purchase of the insured property.

• Contract disputes (repair and renovation of the property):

• Pursuit or defence of any dispute or legal proceedings over the repair or renovation of the insured property.

• Criminal prosecution:

• • Defence against criminal prosecutions brought against your client in relation to the insured property under:

• • • The Gas Safety (Installation and Use) Regulations 1994;
    • The Furniture and Furnishings (Fire) (Safety) Amendments Regulations 1993;
    • The Electrical Equipment (Safety) Regulations 1994.

• Identity fraud:

• • Insured events arising from identity fraud.

The product will initially be available on the Vasek platform and on Acturis later in the month.

The launch builds on enhancements made to Vasek’s offering earlier this year, including the introduction of pet damage cover as a standard feature from May, reflecting both the evolving market and changes introduced through the Renters’ Rights Act. Following feedback from brokers and in recognition of wider market developments, Vasek has now developed its offering further with the introduction of this standalone legal cover.

Clark Ross, Managing Director of Vasek, commented: “Our Residential Landlord Legal Protection Insurance is designed to help landlords face the future with confidence, providing protection against the potentially significant costs associated with disputes, rent arrears, property-related issues and legal proceedings. As the legal and regulatory environment for the buy-to-let sector continues to evolve, we remain committed to developing solutions that help landlords protect their investments and navigate challenges with confidence.”

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