We are all familiar with the term "excess" in the context of insurance - particularly car insurance which affects the majority of us.
Well many rental guarantee insurance policies also include an excess and this is often an amount equivalent to a month's rent. When we devised our rent guarantee scheme we researched other products on the market and the majority had an excess. Our view on this was to question how a "guarantee" could actually exclude some of the missing rent due!
It is for that reason that our rental guarantee really does mean "guarantee" as there is absolutely no excess and even if the Tenant is late paying the rent - you are still paid.