Addept Insurance Services has made its dedicated landlord pet damage insurance product, Not for Lions, available to residential landlord customers of Protect My Let, part of Howden.
Most standard landlord insurance products exclude pet damage, and buildings policies, the most common type of cover purchased by landlords, typically exclude damage to areas such as carpets. Not for Lions targets that gap, offering an optional additional layer of protection specifically covering damage caused by a tenant's pet, including to landlord contents and carpets. The product is available on both an add-on and a standalone basis.
"The Renters' Rights Act does not mandate pet damage insurance cover and so has left many landlords without any form of redress should a tenant's pet damage their property," said Richard Finan, managing director of Addept Insurance.
"Enlightened landlord insurance providers such as Protect My Let have recognised the importance of providing their customers with access to a dedicated solution that addresses the protection gap."
The launch reflects growing pressure on landlords to manage pet-related risk as tenant rights evolve. Under the Renters' Rights Act, tenants have strengthened rights to keep pets in rented properties, making appropriate insurance cover increasingly relevant for landlords across the residential sector.
"This partnership demonstrates how we continue to evolve our insurance solutions to meet the changing needs of our landlord customers," said Kelly Newman, associate director for Protect My Let, part of Howden.
"We have listened closely to client's insights and kept abreast of developments in the market to ensure we're offering products that fulfil a genuine and emerging need.
"With the Renters' Rights Act strengthening tenants' rights to keep pets, it's increasingly important that landlords have appropriate protection against the associated risk of possible property damage. Addept's 'Not for Lions' is an innovative solution that addresses this risk directly, and we're pleased to bring this added value to our landlord insurance proposition."
