If you have home insurance with lodgers cohabiting with you, you may find that your existing policy is invalidated. To make sure you’re completely covered, you need specialist lodgers insurance as an extension of your home insurance policy – as you may well already know. Some insurers may update your policy (and premium) to reflect this additional cover, or you may need to switch providers. It’s always wise to compare quotes beforehand to see whether it is more cost-effective to update your existing policy or switch insurers entirely for a home insurance policy that allows lodgers.
We also offer home buildings and contents insurance, so make sure to speak to one of our helpful staff who will be able to give you an instant quote over the phone. This can cover accidental damage. Your contents cover on your home insurance policy will not cover the personal effects of your lodger, so they will have to arrange their own. Many insurers can provide room-only contents insurance for lodgers, but you are not responsible for this.
A lodger is defined as a third-party “lodging” in a spare room of an owner-occupied property. Generally, facilities such as the bathroom, kitchen, and living room are shared between the lodger(s) and the homeowner.
This differs from a tenant who has a tenancy agreement in place with the property owner. A lodger is instead “licensing” the room, granting them permission to be in the property legally. Compared to tenants, lodgers (otherwise known as excluded occupiers) have limited rights whilst sharing accommodation with the homeowner.
If you believe that you instead have a tenant, who occupies your shared property independently – for example, in a self-contained section such as a basement or studio – then you are considered a resident landlord and, as such, will require landlord insurance for resident landlords.
As experienced home insurance brokers, we have the expertise needed to find you the most suitable, comprehensive policies at a low premium.