What is the absent landlord policy?

Absentee Landlord insurance provides coverage in situations where the landlord of a leasehold property cannot be located, is in liquidation or receivership, and as a result, rent has not been paid or demanded, and necessary consents for property-related work or lease assignments cannot be obtained.
Please note that when a development is planned that could violate a leasehold covenant, a separate Restrictive Covenant Indemnity may be required.
The insurance policy covers the following risks:
-    Losses resulting from actions taken, including the exercise of rights of re-entry, due to rent or service charge arrears, failure to comply with conditions for lease assignments, or breaches of lease covenants related to property alterations.
-    The coverage extends to the market value of the property in case the insured is dispossessed or evicted by a court order. It also includes damages, costs, and expenses recoverable by the landlord, as well as costs and expenses associated with seeking relief through court applications.
The specific terms and conditions of the Absentee Landlord insurance policy may vary depending on the provider and the jurisdiction. It is important to review the policy details and consult with an insurance professional to ensure a clear understanding of the coverage and its applicability to your specific circumstances.
 

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