Ashburnham provide HMO property insurance for landlords letting houses in multiple occupation. Flexible, comprehensive, and cheap HMO insurance can be hard to come by, but with Ashburnham you can choose the level of cover you require using our online policy form. Just make sure that under Occupancy Details, you select the maximum number of tenants/families for your HMO, and under Property Construction you select the correct property type (e.g. Bedsits, Purpose Built Flats, or Converted Flats).
A good HMO landlord insurance policy will cover more than just the building, which undoubtedly is your most important asset, but also protect you against other financial risks associated with letting a house in multiple occupation.
Covers the financial cost of repairing a property’s structural damage. We cover both accidental and malicious damage as standard, in addition to environmental damage (e.g. flooding, storms, etc).
Recommended for furnished let properties, this will protect the landlord from the costs of repairing and replacing furnishing that have been stolen or accidentally damaged by tenants.
Covers the intentional damage caused by the tenant or any other malicious persons to the landlord’s property.
Covers loss of rent by guaranteeing monthly rent payments for a maximum of 6 months in the event that a tenant is in arrears and temporarily unable to pay due to their financial circumstance.
Indemnifies the property owner against liability if a tenant, guest or member of the public is injured on the premises, including cover from the financial costs of any claims made due to negligence.
Indemnifies the expenses in pursuit or defense of any disputes connected to a landlord’s property that require legal protection.
Head over to our Landlord Portfolio Insurance page.
HMO stands for House in Multiple Occupation, and can include bedsits, purpose built flats, converted flats, and student accommodation. If there are at least three unrelated occupants (or households) living within the property, each with their own tenancy agreement, then it is considered a HMO. This includes properties with shared facilities such as a communal kitchen or bathroom, common with house shares, so long as each occupant has their own separate tenancy agreement.
The difficulty with obtaining HMO insurance lies with the fact that houses in multiple occupancy are considered by some insurers to be high risk. Despite the fact that, in actuality, some of the risks can be on a similar level to that of a standard, single-occupancy household, many insurers aren’t able to cover HMOs or will increase the premium for your HMO landlord insurance.
This may be partly due to the unfortunate stigma associated with all HMOs as being converted bedsits, with a faulty kitchen in every bedroom, occupied only by irresponsible DSS tenants or asylum seekers. We know this is not the case, and houses in multiple occupation are as varied as the tenants who live in them – with no two alike.
As experienced landlord insurance specialists, we have the expertise needed to find you the most suitable, cost-efficient HMO insurance package based on your particular property and its facilities.