Insurance provider Berkeley Alexander has launched a Landlord Legal Expenses and Rent Guarantee product for use under Covid-19 restrictions.

The company claims that many rival insurers stopped sales of this type of product earlier this year in the light of eviction bans and the worsening economic outlook adding to uncertainty in the lettings sector.

“At the outset of restrictions it was no surprise that many insurers pulled out of landlord legal expenses and rent guarantee products but … we are able to provide this product for our brokers and advisers, giving them a valuable point of differentiation and providing their landlord clients with surety” according to Mark Hutchings, managing director of Berkeley Alexander.

The product is offered on a 12-month policy term. 

It will pay 100 per cent of rent arrears paid up to possession and has a range of benefit levels and indemnity periods, up to a maximum of £2,500 and for up to six months. 

The product will also cover the policy holder for legal disputes in relation to the tenancy agreement, pursuit of rent arrears and legal defence cover. It provides mediation and eviction costs up to £25,000.