Alps has introduced a pet damage protection product to its portfolio in response to reforms proposed by the Renters’ Rights Bill.
The “Not for Lions” insurance is an add-on product that can help support landlords meet the provisions of the bill. It was developed by Addept Insurance with capacity from The Salvation Army General Insurance Corporation (Sagic).
The Renters’ Rights Bill will give tenants increased rights to keep pets at rental properties. Concurrently, landlords may request tenants keeping pets at their properties to obtain pet damage cover or reimburse the cost of a specific insurance purchased by the landlord. The bill is expected to receive royal assent in the spring of this year.
The product, which starts at £120 and can cover up to £5,000 per period of insurance, will provide responsive coverage balanced in terms of fair value, price and service. Brokers can access the policy as an add-on to both new and existing buildings and contents insurance, the company said.
Michelle O’Reilly, managing director at Alps, highlighted the importance of the new product to landlords as they attempt to comply with the provisions of the proposed law.
“This is a fantastic addition to our broad range of add-on policies,” she said. “We’re delighted to be working with Addept Insurance to bring this responsive cover to market at a time when landlords are facing increasing uncertainty.”
Addept Insurance is also excited to be working with Alps and to bring new products that will exceed customer expectations in terms of value and service.
“We are delighted to partner with them, ahead of the implementation of the new Renters’ Rights Bill, to bring this exciting new product to market addressing the current protection gap for landlords in accessing dedicated pet damage cover at a cost that is affordable to tenants,” said Richard Finan, managing director at Addept.
Alps offers a wide range of add-on covers including sole trader, commercial, landlord and family legal expenses; motor-related add-ons including excess protect, tools in transit, vehicle replacement and road rescue, as well as property-related add-ons including landlord excess protect and home emergency, key cover and second property legal expenses.
