From 1 June 2025, all new policies and renewals through Goodlord and Vouch will come with a significantly improved benefits package, offering broader protection and increased financial support. The updated product includes an immediate payout if the first month's rent is not paid on a signed tenancy, additional support for property damage - up to £1000 - and increased support for temporary accommodation and storage costs, with up to £175 per night for three months for accommodation and £15 per day for storage.
Additionally, a new form of cover has been added which will provide protection for challenges against valid rent increases under Section 13, a key concern for landlords in light of the upcoming bill. The policy will now cover the difference between the previous rent and the proposed increase for up to six months, or until a decision is made by the First-tier Tribunal – whichever is sooner.
Oli Sherlock, managing director of insurance at Goodlord, said:
“As the industry prepares for significant changes under the Renters’ Rights Bill, it's clear that the risk profile of lettings is shifting. We recognise that plenty of suppliers are saying they are “Renters’ Rights ready” but in truth very little has been delivered. We've been working behind the scenes to ensure our insurance product evolves in lockstep with those changes. These unique insurance enhancements are designed to offer greater peace of mind and practical support to landlords and agents at a time of peak uncertainty.”
