Rent Guarantee Insurance: An insurance policy that provides tenants with protection against their landlord’s inability to pay the rent. It covers a tenant’s lost rent in the event that the landlord becomes delinquent, has to vacate the premises due to legal issues, or passes away without leaving a valid will. In addition, Rent Guarantee Insurance often cover other costs related to tenants such as attorney fees and relocation costs in some cases. This kind of insurance offers peace of mind for both landlords and tenants by giving them confidence that their rental agreement is secure.