Frequently asked questions
What is joint and several liability?
Guarantors who enter into a contract with joint and several liability are each liable to perform the whole contract on their own. That is to say, you are likely not just liable for your own student's share, you are liable for the entire tenancy and all of the tenants (students) performance. Should a tenant fail to pay the rent, the landlord could choose to pursue all of the guarantors to recover this, or just one of you.
How can I find out if I am jointly and severally liable?
It is very important to read all the documentation relating to the tenancy that the landlord or managing agent provide you with, this will include the tenancy agreement and the guarantor agreement that you are asked to sign. If you are to be jointly and severally liable there will be a clause within the tenancy agreement to confirm this. Most tenancy agreements do hold the tenants and guarantors jointly and severally liable, if you are unsure, you should seek independent legal advice before signing.
Is the policy only available for student guarantors?
Yes, at the moment we are only able to offer this cover for student guarantors.
Do all the tenants in the property need to be studying?
Yes. All persons named on the tenancy agreement must be studying for a full-time or part-time university qualification, or be undertaking a placement as part of that qualification.
When should I take out the guarantor insurance?
The policy can be taken out up to 90 days before the start date of the tenancy, cover will then commence on the day the tenancy starts. The policy can also be purchased after the tenancy has started, although an exclusion period will apply in accordance with the policy wording.
Do I need to have been referenced before I take out a policy?
No. You do not strictly need to have been referenced by the landlord or managing agent. However, you must meet the policy's eligibility requirements, including having sufficient income and ability to cover your student's share of the rent in addition to your own regular living expenses.
How can I buy a policy?
You can purchase a policy easily online, via our website.
Can I pay for the policy in installments?
No. The premium must be paid in full before cover can commence.
What details do I need to have to hand to complete the application forms?
You will need to be able to provide information on the following: the property that is to be rented, the landlord or managing agent that is letting the property, the student, their course and the university they are studying at.
What levels of cover are available?
We offer indemnity limits of £15,000, £25,000 and £50,000. The selected limit applies to the cover provided under the policy, subject to the terms, conditions and exclusions. The policy includes cover for rent arrears, tenant damage and insurer's legal costs where applicable.
When will I receive the policy documents?
Once your application has been accepted and payment has been received, you will receive your policy documents by email the same day.
What documents should I keep?
You should keep copies of all documents relating to the tenancy and guarantor agreement. If you need to make a claim, we may also ask for supporting documents such as the inventory, deposit information and contact details for the other tenants and guarantors.
Can I take out cover if I am guaranteeing more than one student?
Yes, but you will need to take out a policy for each student that you are guaranteeing.
Can more than one guarantor take out the cover?
Yes, the policy is available to student guarantors on an individual basis.
Do all the guarantors need to take out a policy?
No, the policy protects individual student guarantors so it can be taken out by just one guarantor or by all of the guarantors.
Can I take out the guarantor insurance if the landlord/managing agent does not require a security deposit?
Unfortunately not, it is a condition of the policy that a security deposit is paid or that the premium of an equivalent deposit replacement scheme is paid.
Does the policy cover the property or the guarantor?
The policy covers the guarantor taking out our insurance, in relation to the student they are guaranteeing.
Does the policy cover me for rent and damage to the property?
Yes. Subject to the policy terms, conditions and limits, the policy provides cover in respect of your liability as a guarantor for unpaid rent and damage caused by the other tenants.
Is the policy available throughout the UK?
The policy is available for eligible student tenancies located within England, Scotland and Wales, subject to the policy terms and eligibility criteria.
Does the policy cover utility bills?
No the policy does not provide cover for non payment of utility bills.
How long does the policy last?
The policy provides cover for the period of insurance shown in your policy schedule, at a maximum of 12 month's. Please refer to your policy wording for full details of when cover begins and ends.
Is there an exclusion period?
If you purchase the policy before the tenancy begins, no. If you purchase the policy after the tenancy has started, an exclusion period will apply before cover becomes effective. Please refer to the policy wording for full details of the exclusion period and when cover begins.
Is there a maximum amount of monthly rent that is covered?
Yes, the policy can provide cover for properties with a monthly rental amount of up to £4,000.
Is there an excess payable?
No. There is no excess payable under this policy.
What isn't covered by the policy?
The policy contains conditions, exclusions and limits which may affect whether a claim is covered. Please read the policy wording carefully before purchasing to ensure the policy meets your needs.
How do I make a claim?
If you need to make a claim, please contact us as soon as reasonably possible using the claims contact details shown in your policy documentation.
Is there a time limit for making a claim?
Yes. You should notify us within 7 days of becoming aware of an insured incident. Claims must also be notified within the timescales set out in the policy wording. Failure to do so could affect your claim.
Is there a minimum claim amount?
Yes. Claims for rent arrears or dilapidations totalling less than £150 are not covered under the policy.
Can I cancel my policy?
You may cancel your policy during the cooling-off period and may be entitled to a full refund, provided no claim has been made or is pending. You may cancel the policy anytime after this cooling off period, but no refund will be due, and any claims may be affected. Please refer to the policy wording for full details of your cancellation rights and any applicable charges.
What happens if the tenancy is cancelled before it starts?
If the tenancy does not proceed, please contact us as soon as possible. Depending on the circumstances and whether cover has commenced, you may be entitled to cancel the policy in accordance with the policy terms.
Can I transfer my policy to another student or tenancy?
No. The policy is issued for a specific guarantor, student and tenancy and cannot be transferred to another student, tenancy or property.
Is the policy renewable?
No, this policy only provides cover for a maximum of 12 months, as shown in your policy schedule. If you agree to guarantee a new or renewed tenancy, you will need to purchase a new policy.
Is the insurance backed by the Financial Services Compensation Scheme (FSCS)?
Yes. The insurer is covered by the Financial Services Compensation Scheme (FSCS). If the insurer is unable to meet its obligations, you may be entitled to compensation under the scheme, subject to the FSCS rules.
How can I make a complaint?
We are committed to providing a high standard of service. If your complaint relates to the sale of your insurance policy or the service provided by Guarantor Insure, including our website or customer service, please contact us using the details on our website. If your complaint relates to the administration of your policy or the handling of a claim, please contact Auto Legal Protection Services Limited (ALPS): Address: Sunnyside Mill, Highfield Road, Congleton, Cheshire CW12 3AQ Telephone: 01260 241555 Email: complaints@alpsltd.co.uk
