Rent Guarantee Key Facts

Please also see our Full Policy Wording

This is only a summary of cover of the Composite Legal Expenses and Rent Guarantee insurance policy and does not override the terms and conditions set out in Group Policy 2092, a copy of which is available on request and will be sent to you once your application has been accepted. Composite Legal Expenses cover is underwritten by Pinnacle Insurance plc, a company incorporated in England and Wales. Company Registered Number: 1007798. Pinnacle Insurance plc is authorised and regulated by the Financial Services Authority, FSA Registration Number 110866. Cardif Pinnacle is a trading style of Pinnacle Insurance plc. Pinnacle Insurance plc is a BNP Paribas company.

Features and Benefits
Composite Legal Expenses and Rent Guarantee insurance is a general insurance contract that protects landlords from tenants defaulting on monthly rent (as agreed in the tenancy schedule) for a period up to twelve months and to provide legal expense costs to remove the tenant from the rented property if applicable.

Legal Expenses Cover:
If during a period of insurance an insured event occurs, the insurer will provide to the insured, indemnity for fees not otherwise recoverable for professional costs incurred in the pursuit or defence of civil claims.
Rent Guarantee Cover:
Monthly benefit will be paid in respect of arrears of rent owed on an insured property by the tenant to the insured for up to 12 months or until vacant possession has been gained, whichever happens soonest.

Significant Limitations
Legal Expenses Cover:
• maximum amount of cover is £25,000;
• no benefit if the event occurs before the cover start date or within 90 days of the start date;
• no benefit if a claim is made more than 45 days after the event;
• no benefit where the amount in dispute is less than £250.
Rent Guarantee Cover:
• action must be taken promptly to gain vacant possession of the insured property and/or recover unpaid rent, unless the only reason for not taking action is that the professional advisor advises that the expected costs incurred will be more than any money recovered;
• benefit will be paid at a rate of 1/30th of the monthly benefit for each continuous day that rent is in arrears;
• maximum monthly benefit is £4,000 regardless of number of policies.

Significant Exclusions
Legal Expenses Cover:
• where there is insufficient prospect of success;
• where the insured event had commenced or occurred before cover commenced;
• where at or prior to the start of the insurance commencing you should reasonably have realised that a claim might occur.
Rent Guarantee Cover:
• no payment will be made in respect of the first 30 days of unpaid rent;
• for rent once the period of insurance or term has expired or the property is re let whichever is the sooner;
• for any interest on rent arrears;
• for periods for which the insured property is advertised as for sale;
• if housing benefit is to be paid.

	Composite Legal Expenses Ltd Legal Expenses and Rent Guarantee Insurance Policy Summary
Please also see our Full Policy Wording This is only a summary of cover of the Composite Legal Expenses and Rent Guarantee insurance policy and does not override the terms and conditions set out in Group Policy 2092, a copy of which is available on request and will be sent to you once your application has been accepted. Composite Legal Expenses cover is underwritten by Pinnacle Insurance plc, a company incorporated in England and Wales. Company Registered Number: 1007798. Pinnacle Insurance plc is authorised and regulated by the Financial Services Authority, FSA Registration Number 110866. Cardif Pinnacle is a trading style of Pinnacle Insurance plc. Pinnacle Insurance plc is a BNP Paribas company. Features and Benefits Composite Legal Expenses and Rent Guarantee insurance is a general insurance contract that protects landlords from tenants defaulting on monthly rent (as agreed in the tenancy schedule) for a period up to twelve months and to provide legal expense costs to remove the tenant from the rented property if applicable. Legal Expenses Cover: If during a period of insurance an insured event occurs, the insurer will provide to the insured, indemnity for fees not otherwise recoverable for professional costs incurred in the pursuit or defence of civil claims. Rent Guarantee Cover: Monthly benefit will be paid in respect of arrears of rent owed on an insured property by the tenant to the insured for up to 12 months or until vacant possession has been gained, whichever happens soonest. Significant Limitations Legal Expenses Cover: • maximum amount of cover is £25,000; • no benefit if the event occurs before the cover start date or within 90 days of the start date; • no benefit if a claim is made more than 45 days after the event; • no benefit where the amount in dispute is less than £250. Rent Guarantee Cover: • action must be taken promptly to gain vacant possession of the insured property and/or recover unpaid rent, unless the only reason for not taking action is that the professional advisor advises that the expected costs incurred will be more than any money recovered; • benefit will be paid at a rate of 1/30th of the monthly benefit for each continuous day that rent is in arrears; • maximum monthly benefit is £4,000 regardless of number of policies. Significant Exclusions Legal Expenses Cover: • where there is insufficient prospect of success; • where the insured event had commenced or occurred before cover commenced; • where at or prior to the start of the insurance commencing you should reasonably have realised that a claim might occur. Rent Guarantee Cover: • no payment will be made in respect of the first 30 days of unpaid rent; • for rent once the period of insurance or term has expired or the property is re let whichever is the sooner; • for any interest on rent arrears; • for periods for which the insured property is advertised as for sale; • if housing benefit is to be paid.		Composite Legal Expense Limited Legal Expenses and Rent Guarantee Insurance Policy Summary Policy Duration 12 months commencing on the start date. Cancellation You may cancel your cover within the first 14 days and receive a full refund of premium provided no claim has been made. After that you may cancel your cover but no refund of premium will be payable. Claims Procedure If the rent payment is overdue the tenant and guarantor must be contacted within 7 days to find out why it has not been paid. If rent remains overdue, within 7 days the tenant and guarantor must be contacted again. When the insured becomes aware of a potential claim, they must contact the Administrator as soon as possible and in any event no more than 45 days by: Telephone: 01206 366 500 or Fax: 01206 366 501 Quote Composite Legal Expenses Protection. The Administrator will send the insured claim form which must be complete and returned to: The Claims Manager, 2 St John's Street, Colchester CO2 7AA Enquiries and Complaints While it is always out intention to provide a first class standard of service, if you do have any concerns regarding insurance cover, please address them to: Customer Relations Manager, Cardif Pinnacle Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire WD6 2XX Should you remain dissatisfied with the outcome of any internal enquiries you have the right to refer your complaint to: The Financial Ombudsman Service (FOS) South Quay Plaza, 183 Marsh Wall, London E14 9SR This procedure will not prejudice your right to take legal proceedings. However, please note that there are some instances when the FOS cannot consider complaints. A leaflet detailing our full complaints/appeals process is available from Cardif Pinnacle on request. Customer Compensation Pinnacle Insurance plc is covered by the Financial Services Compensation Scheme. You may be entitled to compensation from (“the Scheme”) if Pinnacle Insurance plc cannot meet its obligations. This depends on the type of business. Most types of insurance businesses are covered for 100% of the first £2,000 of a valid claim and 90% of the remaining amount of the loss. Further information about compensation arrangements is available from the Financial Services Compensation Scheme, telephone number 020 7892 7300. Choice of Law The parties to this Group Policy are free to choose the law applicable to it. Without agreement to the contrary, English Law will apply. If you live in Scotland, Wales, Northern Ireland, the Channel Islands or the Isle of Man, you will be entitled to commence legal proceedings in your local courts. All communications will take place in English.