What does the policy cover?
If you rent a property from a landlord, you might have to pay at least 5 weeks cash as security deposit to the landlord. With Canopy cover, you purchase the deposit policy which gives the landlord 8 weeks protection for a fraction of the cost. You are responsible for settling any financial loss or damage suffered by the landlord under your assured shorthold tenancy agreement. Claims are capped at the coverage limit being 8 weeks security cover.
Although you are still liable for any claims submitted, at Canopy we understand life happens. We will be there for you as you will be covered for life events. This includes:
- If you suffer from a critical illness
- Lose your job / or your employer reduces your salary by 25%*
If there is a claim from the landlord (at the end of your tenancy contract), then, subject to proof, Canopy will settle the claim with the landlord and not seek any recovery from you.
*Please note communicable diseases such as the on going COVID-19 pandemic are not covered.