Rent guarantee insurance cost in the UK is quoted two different ways, and landlords comparing a fixed fee against a percentage are not comparing anything. Converting one into the other takes a moment and is the first step in any sensible comparison.
The two quoting conventions
A fixed annual amount per tenancy, which suits higher rents and penalises lower ones. Or a percentage of the annual rent, which scales. Convert the percentage into pounds using your actual rent before comparing, because the ranking of quotes frequently reverses once you do.
What else has to match before the comparison means anything
The cover period, six or twelve months. The excess period, usually the first month of arrears. Whether legal expenses for possession are included and at what limit. Whether anything continues after possession while the property is relet. Those four make more difference than the headline price.
Where the agent's margin sits
Policies sold through a letting agent usually include referencing in the service, and the premium reflects that. Bought direct, the referencing is yours. Whether the agent's version is dear depends entirely on whether you would otherwise reference to the insurer's standard, which is the condition most claims fail on.
Questions people ask about rent guarantee insurance cost uk
Is it quoted as a fee or a percentage?
Both conventions exist. Convert the percentage into pounds at your actual rent before comparing quotes, because the ranking often reverses.
What else should match?
The cover period, the excess period, whether legal expenses are included, and whether anything continues after possession.
Why is the agent's version dearer?
It usually includes the referencing, which is what most declined claims turn on.