Once the tenant pays the non refundable service charge, equivalent to one week's rent, the landlord becomes the sole beneficiary of our insurance policy. This policy means that in the event a tenant defaults on a fair payment at the end of a tenancy, *Canopius will pay out to the landlord. The maximum claim amount is up to 8 weeks worth of damage and rent arrears.
Reposit is not tenant insurance. They're still liable for damages, rent, cleaning the property, and anything else outlined in your tenancy agreement, which they will still need to pay the landlord back at the end of the tenancy.
*We are partnered with the insurance company Canopius, a top 5 insurer in the Lloyd’s market.