This major jump in demand coincided with the Renters’ Rights Bill securing Royal Assent on 27 October.

In an additional survey of 234 letting agents and landlords conducted by Goodlord in recent weeks, 76% said the act had increased their likelihood of taking out insurance.

Meanwhile, 11% said their position was unchanged. And only 1% said they were less likely to put insurance in place as a result of the Renters’ Rights Act.

The act will be fully implemented on 1 May and bring a range of new rules into the private rented sector.

This includes the abolition of so-called ‘no fault’ evictions (Section 8), meaning landlords looking to evict tenants from properties face a more complicated process to do so (via a Section 13 notice).

Tenants will be able to officially appeal any rent increases, and agents will no longer be able to ask for more than one month’s rent in advance, which won’t be legally due until the first day of the tenancy.

Rental protection insurance typically covers agents and their landlords in the event that tenants miss or withhold rental payments, as well as additional outlays such as legal costs and property damage.

Goodlord managing director Oli Sherlock says: “The passing of the Bill into law really focused minds across the sector. There had been so many false starts over the years, it took Royal Assent for lots of agents to truly step up their preparations.”

“We saw an absolute explosion in rent protection demand as soon as the Bill cleared the final stages; it was like a massive alarm had sounded across the market.”

“The Act is bringing in a lot of change and the market is recalibrating accordingly. Lots of the major causes of concern – whether that’s around court back-logs, gazundering, or disappearing tenants – may not come to pass in the volumes some predict, but agents and their landlords clearly don’t want to take any chances at a time of such market uncertainty.”