Letting agents speak to landlords every day.

They hear about repairs, rent, void periods, tenant changes, property damage, licensing, compliance, maintenance costs and the general pressures involved in running rental property.

That gives letting agents a valuable position.

They may not arrange the landlord’s insurance. They may not give insurance advice. They may not be involved in the renewal process at all.

But they often know when a landlord’s circumstances have changed.

And that matters.

Because landlord insurance should not simply be renewed on habit. It should be reviewed properly before the landlord commits.

Landlords often renew without asking enough questions

Many landlords treat insurance as routine paperwork.

The renewal arrives. The premium is checked. If the increase is not too uncomfortable, the policy is renewed. If the premium looks high, the landlord may ask the existing broker whether anything can be done.

But that is not always enough.

A renewal notice does not prove the policy is still suitable. It does not prove the market has been properly checked. It does not prove the sums insured are accurate. It does not prove loss of rent cover is adequate. It does not prove tenant type, unoccupancy conditions or material facts have been reviewed.

A landlord may be renewing on assumptions without realising it.

Letting agents often know when details have changed

A letting agent may know that a property has been empty.

They may know the tenant type has changed.

They may know rent has increased.

They may know works have been carried out.

They may know there has been damage, an incident, a dispute, a leak, a claim concern, a refurbishment or a change in management.

These details may be relevant to the landlord’s insurance.

That does not mean the letting agent should advise on cover. It does mean the agent can remind the landlord that insurance should be reviewed properly before renewal.

Sometimes a simple prompt can prevent another year of assumptions.

Tenant type matters

Tenant type is one of the key issues in landlord insurance.

A property let to professional tenants may not be assessed in the same way as a student let, HMO, supported living arrangement, company let, benefit-assisted tenancy or other occupation type.

The issue is accuracy.

If the tenant type has changed and the landlord has not told the broker or insurer, the policy may not reflect the real position.

Letting agents are often well placed to remind landlords that tenant type should be checked before renewal.

Void periods and unoccupancy should not be overlooked

Letting agents also understand how normal void periods can be.

A tenant leaves. Repairs are needed. A new tenancy is delayed. Works take longer than planned. A landlord decides whether to re-let, sell or refurbish.

From a letting point of view, this may be routine.

From an insurance point of view, it can matter.

Many landlord insurance policies include conditions for unoccupied property. These may involve inspections, security, heating, water systems or notification to the insurer after a set period.

If landlords do not understand these conditions, they may only discover the issue when something goes wrong.

Loss of rent cover needs proper attention

Letting agents understand how important rental income is to landlords.

If a property cannot be let after an insured event, the rent may stop while costs continue.

That is why loss of rent cover should be checked carefully.

• Is it included?
• Is the amount adequate?
• Does it reflect current rent levels?
• How long does the cover last?
• Does it apply in the circumstances the landlord expects?

If rent has increased but insurance has simply been carried forward, the cover may no longer be adequate.

Sums insured should not simply be copied forward

The buildings sum insured should reflect the rebuild cost, not the property’s market value.

If the sum insured is too low, the landlord may be underinsured, which can affect claims.

Letting agents may not calculate rebuild costs, but they may know when a property has been altered, improved, extended, converted or refurbished.

Those changes may make it worth reviewing the insurance before renewal.

A landlord should not assume last year’s figure is still right.

Portfolio landlords need particular care

Many letting agents work with landlords who own several properties.

A portfolio is not just a list of addresses.

Different properties may have different tenants, different rents, different void periods, different rebuild values, different claims histories and different cover requirements.

A landlord with five, ten or fifteen properties should not be renewing insurance as though nothing ever changes.

If a letting agent knows a portfolio landlord whose renewal is approaching, it may be helpful to remind them to review the whole portfolio properly before they commit.

Letting agents should avoid giving insurance advice

This is important.

Letting agents do not need to advise landlords what insurance policy to buy.

They do not need to compare cover.

They do not need to interpret policy wording.

They do not need to recommend whether a quote is suitable.

That is not the point.

The point is simpler.

Letting agents can remind landlords that their insurance renewal should be reviewed properly, especially where property, tenant, rent, occupancy or portfolio details may have changed.

They can suggest that the landlord speaks to NetRent before committing to renewal.

Why NetRent is relevant to letting agents’ landlords

NetRent has worked with landlords for 23 years.

We understand rental property and the practical issues landlords face.

We ask landlord-specific questions before passing the enquiry to Clear’s dedicated NetRent team because the right cover starts with the right information.

Clear Insurance Management then bring specialist insurance broking expertise, market access and renewal review.

Clear do not simply roll landlord policies forward at renewal. They re-broke landlord insurance to help ensure landlords are getting the best available price and policy for their circumstances.

That approach can be valuable for landlords who may otherwise renew by default.

A helpful reminder can strengthen the landlord relationship

Letting agents are often looking for practical ways to support landlords.

Reminding a landlord to review insurance properly before renewal is a useful prompt.

It shows the agent is thinking about the wider property picture.

It may help the landlord avoid renewing on assumptions.

It may help them challenge their current broker more effectively.

It may help them identify whether a better combination of price, cover and service is available.

For the letting agent, it is a simple way to add value without giving regulated insurance advice.

Contact NetRent before renewal

If you are a letting agent and one of your landlords has insurance due for renewal, encourage them to send their renewal to NetRent before they commit.

We will review what they have been offered, ask the right landlord-specific questions and pass properly considered information to Clear’s dedicated NetRent team so they can see whether a competitive alternative is available.

• They may save money.
• They may improve their cover.
• They may get better service.
• They may discover that their current broker has not been working hard enough for their business.

But most importantly, they will not be renewing on assumptions.

Call NetRent: 01352 721300
Email: insurance@netrent.co.uk

Letting agents do not need to give insurance advice to help landlords. Sometimes the most useful thing is simply reminding them to review their landlord insurance before they renew.