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It’s insurance that remiburses a landlord their lost rental income when a tenant defaults. It also reimburses a landlord for certain legal expenses associated with the default.

The policy pays up to 6 months reimbursement when a tenant default is due to abandonment or eviction and up to 3 months when a tenant vacates the unit due to court order, military status or their own death.

Yes; the policy will pay up to $1,000 to cover your reasonable expenses (court costs and fees relating to service of process and hiring an attorney) to lawfully remove a tenant from the unit.

Our rent default insurance is for single family homes, townhomes, condo units and multifamily dwellings.

Your policy is triggered on the date that rental income becomes in arrears for a particular rental unit or in the case of the death of the sole tenant of the rental unit the date that the first payment would have been due after the death of the tenant.

You as the landlord pay the premium. Many landlords pass along this nominal cost to the tenant or take it as a tax deduction*. *Please consult your accountant or tax attorney to see if you can do the same.

Your premium is based off of your unit’s monthly rental income.

No; it’s strictly for rent default.

Not at this time though we’re working on including this coverage in the near future.

Yes, the deductible is equal to one month’s rent.

The policy pays up to 6 months reimbursement when a tenant default is due to abandonment or eviction and up to 3 months when a tenant vacates the unit due to court order, military status or their own death.

No; those types of investment properties don’t qualify for coverage. Rent Rescue is tailored for single family homes, townhomes, condo units and multifamily dwellings.

Yes; so long as the lease term is for at least 12 months.

Yes; so long as our criteria have been met.

  • You need to warrant that your tenant has a 600 or better credit score
  • hasn’t been evicted or filed for bankruptcy in the last 5 years
  • hasn’t had any rent in arrears for 30+ consecutive days during the last 12 months and can satisfy the financial terms of the lease

If that criteria is met, then you can purchase our rent default insurance.

Yes; so long as our underwriting criteria is met.

Yes. We require all eligible units at a location to be covered. However, we realize there are unique circumstances and happy to discuss them with you. Just contact us here.

No; there will be one policy issued per state.

The most we’ll pay in a given month will be $5,000 per unit unless we’ve made an exception and agreed to a different amount.

The insurance policy covers the term of your lease with the tenant but no longer than 12 months. You’ll need to renew your policy once it expires on the date shown in your policy’s declarations.

No; you only need to verify that the new tenant(s) meets our qualification criteria. This can be done from your account dashboard.

Yes, you can use your dashboard to make this change.  We’ll charge you a pro-rated premium for that new unit to be added to your policy.

Yes, you can use your dashboard to make this change.  However, the policy premium is fully earned which means you won’t be refunded any premium.

Yes. You can purchase a policy for those qualifying units.

There’s no catch. Rent Rescue identified a real stress point for many landlords and now has a solution. Don’t believe us?! Feel free to review a sample of our insurance policy.

Probably not as rent default insurance is a new product to the US market. With that said, please check your existing coverage for confirmation.

Rent default insurance is a relatively new concept here in the United States though it’s been widely available abroad in the UK and Australia for years. Like many products, it just takes time to implement and catch on in certain markets.

Your policy is triggered on the date that rental income becomes in arrears for a particular rental unit or in the case of the death of the sole tenant of the rental unit the date that the first payment would have been due after the death of the tenant. You can submit your claim once either of these events occur and must also take all steps legally available to remedy the nonpayment of rent and re-lease the unit in a timely manner.

Simply go to the “Make a Claim” page on our website and follow the instructions.

All of the information you need to submit a claim can be found on our “Make a Claim” page.

NARS is a third party administrator partnering with us to quickly process and manage your claim. They’ve been in operation since 1996 and are experts in their field.

The policy pays up to 6 months reimbursement when a tenant default is due to abandonment or eviction and up to 3 months when a tenant vacates the unit due to court order, military status or their own death.

Payment is made to you on a month to month basis per the terms of your insurance policy.

Your reimbursement will be sent to you within 30 days after we receive all of the necessary paperwork and providing you complied with all of the terms of the insurance policy.

Many landlords deduct a portion of the insurance premium. We suggest you contact your accountant or tax attorney to see if you can do the same.

Once you buy the insurance you won’t get a refund if you cancel it. All sales are final. This refund policy is very typical with certain specialty insurance products like ours.

No; Rent Rescue provides rent default insurance. We don’t actively pursue collecting your lost rent.

Next Wave Insurance Services is an insurance agency licensed to market and sell Rent Rescue throughout the United States. They provide all of the behind the scenes infrastructure to make your Rent Rescue experience a good one.

Your claims will be paid by our insurance company partner.

Non-admitted carriers are usually referred to as “surplus” or “excess lines” insurers. Non-admitted carriers are not state regulated and do not contribute to the state guaranty fund, which protects policyholders from the bankruptcy of its insurance carrier. Thankfully, Rent Rescue has partnered with one of the largest insurance companies and reinsurers in the world rated A by A.M. Best and A+ by Standard & Poor’s.

Absolutely! Being non-admitted gives us the flexibility to quickly change coverage and rates to meet the evolving needs of landlords without any prolonged delays which can be encountered when dealing with many state agencies such as departments of insurance.

One drawback is if the insurance company isn’t well capitalized and becomes insolvent then the State’s guaranty fund won’t pay any outstanding claims. Thankfully, Rent Rescue has partnered with one of the largest insurance companies and reinsurers in the world rated A by A.M. Best and A+ by Standard & Poor’s.

Yes; we pay it forward and donate a portion of our proceeds to both Autism Speaks and the National Multiple Sclerosis Society.