How you can change the tenants on your RGI policy will depend on the insurer that your current policy is held with.
Legal for Landlords
You can add a tenant to your rent guarantee insurance policy if they pass comprehensive referencing.
When referencing an incoming tenant for an existing tenancy, you will have the option to reference them for their rent share and not the full rental amount.
Alternatively, you can re-reference the existing tenants alongside the incoming tenant for the full rental amount and the rent shares will automatically be split between them.
You can order standalone referencing here.
Once referencing is complete, you will need to contact the insurer directly for them to make the change. You will need to pay a £20 admin fee and provide the new tenant's details.
You can get in touch to update your policy by using openrent@legalforlandlords.co.uk.
Elevate
You can amend the tenants on the policy as long as the new tenants are referenced and eligible for Rent Guarantee Insurance. Your can order referencing for an incoming tenant here: