Alps has unveiled a groundbreaking insurance policy tailored specifically for landlords grappling with the challenges of pet ownership in rental properties. Dubbed ‘Not for Lions’, this innovative pet damage protection policy reflects the firm’s proactive stance on adapting to the anticipated legislative shift brought about by the Renters’ Rights Bill, set to gain royal assent by spring 2025.

This bill, a game-changer for tenant rights, aims to significantly bolster the ability of renters to keep pets within their leased homes. Consequently, landlords may find their discretion to deny such requests markedly curtailed. To balance this shift, the reforms will permit landlords to either mandate that tenants secure pet damage coverage or reimburse the cost of an insurance policy procured by the landlord.

In collaboration with Addept Insurance, and with the support of The Salvation Army General Insurance Corporation (Sagic), Alps has crafted a comprehensive solution. The ‘Not for Lions’ policy offers an impressive £5,000 coverage per insurance period for pet-related damages. The cost? An accessible £120.00 plus Insurance Premium Tax (IPT)—a price designed to appeal to landlords and tenants alike.

Michelle O’Reilly, Alps’ managing director, expressed enthusiasm about the new product: “This is a fantastic addition to our broad range of add-on policies.

“We’re delighted to be working with Addept Insurance to bring this responsive cover to market at a time when landlords are facing increasing uncertainty.

“It’s an important product for landlords, providing protection and peace of mind at a level affordable to most tenants.”

Richard Finan, managing director at Addept Insurance, echoed her sentiments, emphasizing the partnership’s alignment with landlord needs: “Alps shares our commitment to providing innovative add-on solutions that exceed customer expectations both in terms of value and service.

“We are delighted to partner with them, ahead of the implementation of the new Renters’ Rights Bill, to bring this exciting new product to market addressing the current protection gap for landlords in accessing dedicated pet damage cover at a cost that is affordable to tenants.”

As the rental market braces for these reforms, the ‘Not for Lions’ policy stands out as a timely, well-considered safeguard. It not only protects landlords from potential financial fallout due to pet-related mishaps but also aligns with tenants' aspirations for more inclusive pet ownership rights.