A legal policy is not insurance
A legal lease policy is a legal service that backs the owner against non-payment and disputes. It's not issued by an insurer — it's offered by a law firm. That changes what it can and cannot promise.
What it usually includes
- Drafting of the lease contract.
- Prospective tenant screening.
- Collections and legal action in case of non-payment.
- In some plans, coverage of unpaid rent while the case is resolved.
What it normally does not cover
- Property damage (handled via deposit and contract).
- Utilities used by the tenant (electricity, water, gas).