We provide flexible pricing options for our Insurance Scheme members.
Call us today for your tailored mydeposits payment plan on 0333 321 9404.
Join today from £60*. Our protection fees start at just £10 per protection*
* membership and joining fees based on account type, volume of protections, dispute ratios and whether the agent is part of a mydeposits recognised client money protection scheme.
Information about client money protection insurance
Client Money Protection Insurance (CMPI) is a distinct insurance that protects the money of landlords and tenants against theft or misappropriation by the owners of the letting agent whilst it is in their custody or control. These monies are frequently tenant’s deposits and landlord’s rental payments but can also include monies held for repairs and maintenance to the property and other such circumstances.
Reduced protection fees
Agents that benefit from CMPI are seen by mydeposits as a lower risk because of the financial and other ‘fitness and proprietary’ checks the membership body undertakes on the agent, and the requirement to operate client money accounts in accordance with certain rules and regulations. mydeposits can therefore offer reduced protection fees for letting agents who hold CMPI through a recognised membership body.
The membership bodies currently recognised by mydeposits are:
Association of Residential Letting Agents (ARLA)
Royal Institution of Chartered Surveyors (RICS)
National Association of Estate Agents (NAEA)
National Approved Letting Scheme (NALS)
UK Association of Letting Agents (UKALA)
The Law Society