Vanguard is launching a product for residential rented property.

The scheme, underwritten by Zurich, offers a simple rating procedure and full “all risks” cover.

There is a potential market of more than two million rented properties and some 7,000 estate and letting agents.

“Estate agents don't like the complications of dealing with insurance and we felt we had to make their life easier, in order to break into this market,” said Peter Phillipou, managing director.

“Brokers can now use the scheme themselves for individual clients and also approach local estate agents with the easy one-page proposal form.

The rented property scheme can be viewed on Additional products are being added on a weekly basis.