Addept launches title fraud and sub-letting legal protection for landlords

Addept Insurance Services has introduced Rental Fraud Defence, a legal protection product designed to help landlords address property title fraud and illegal sub-letting risks.

The coverage pays legal costs related to the fraudulent transfer of property ownership or cases where tenants rent out part or all of a property without the landlord’s consent. Covered expenses include restoring title, addressing third parties advertising or financing the property, regaining possession, handling County Court Judgments, and working with credit agencies.

“The private rented sector is particularly vulnerable to the risk of title fraud, particularly where properties are buy-to-let, empty, mortgage free or are of high value. Illegal sub-letting is also a growing issue for the UK residential property sector where tenants can profit significantly from unauthorised sub-letting. Standard landlord buildings policies and traditional landlords’ legal expenses insurance do not provide protection for these kinds of risks. Rental Fraud Defence is designed to directly address the gap in protection for the financial and legal liabilities landlord face.” – Richard Finan, Managing Director of Addept Insurance.

The product can be added to or embedded within a landlord buildings policy and can include Title Guardian, a 24/7 digital property monitoring service.

Lares Services and Modus are the first partners to embed the coverage within their landlord insurance offerings.