Rent Assurance Policy 
Rent Assurance Policy is a unique product that landlords can rely on for compensation in the event of tenants’ inability to pay rent arising from loss of employment or death.

The Benefits of the Policy
i. Rest of mind, with the assurance that the rent is secured.
ii. The policy supports landlord investment plan.
iii. It enhances cordial relationship between landlords and tenants as the corporate entity is behind each subsisting tenancy.
iv. It protects tenants against unforeseen circumstances.
v. Fear of acrimony, litigation or forceful ejection is abated.

The Beneficiary of the Policy
Landlord/Property owner or whom the owner has assigned to manage the property for him/her.

The Scope of Cover
i. The policy covers the insured under a paid employment. 
ii. Inability to pay rent due to loss of employment.
iii. Inability to pay the rent by the dependants of the insured in the event of insured’s death.
iv. It covers the rent of insured in a residential building for maximum of one year.
v. The policy only covers rent in Nigeria.

Premium
The payable premium is 2.5% of the annual rent.

The Policy Limitations
i. The policy does not cover individual on temporary, contract, or probationary period of paid employment.
ii. The policy does not cover tenant associated utilities/charges (. i.e. other charges or levies imposed outside the guaranteed rent and / or other liabilities arising from the tenancy agreement) other than “the rent”.
iii. This policy does not cover termination of job as a result of misconduct, criminal offence, fraud, dishonesty, unethical practices or criminal acts.
iv. The policy does not cover voluntary resignation, retirement, suicide or attempted suicide and termination of employment due to alcohol or drug dependency.
v. The policy is limited to the rent within the boundaries of Nigeria. 

How to make Claim
i. The customer shall notify the insurer immediately after losing his/her job.
ii. In the case of death of the insured, family-preferably the next of kin shall notify the insurer if the policy is still active.