Contents Insurance with Lodgers

Concorde_Rules

Hi,

I've just bought a place which will have two of my friends living in there with me for the next few years.

Is it possible for me to get contents insurance for my stuff, the fixtures and fittings, etc but let my friends find their own insurance.

Or, shall I just add them onto the insurance policy and be done with it?

What are peoples thoughts?

Ch1ckenlady

You can only insure contents (& buildings) which you have a financial interest in. So, you can only insure your contents (& buildings) and your friends will have to arrange their own.

It is possible for you to arrange insurance for YOUR contents but there are several main factors to consider:

1. Are your friends paying you rent (is there a formal arrangement)?
2. Do their rooms have a lockable door/what access do they have to your items?
3. What status are they (student, professional, on benefits etc)

This scenario can impact on your buildings insurance also so if you have a 'normal' home policy, you may need to notify your insurer.

Perhaps, in the first instance, approach your current insurer to discuss with them and see if they can help/advise. Their advice will all depend on your set up.

If you take a 'normal' home policy and don't advise insurers, it could invalidate a claim or even worse, the policy.

Concorde_Rules

1. Yes, they are paying rent.
2. No locks on doors.
3. One is a professional, other is a PhD student.

I will be phoning the insurance companies because this is very complicated indeed

It is contents only as the freehold has a block insurance policy.

InsideInsurance

You can get policies that cover unrelated people and can also add unrelated people as joint policyholders - Confused.com and other aggregators will then filter for insurers that are comfortable with the arrangement.

Alternatively you could get just for you and your friends get their own, though without lockable room doors they may struggle a little but Endsleigh tends to be reasonable for any sharing type arrangements.

The one thing to note is that with almost all insurers because you are living with unrelated people that there will be an endorsement on the Theft coverage that there must be signs of break in and/ or violence for you to have cover.

rs65

Concorde_Rules wrote: »

Or, shall I just add them onto the insurance policy and be done with it?

I wouldn't want other people's claims on my policy and then having to declare them for the next few years.

pinkpearl

Hi there, i was wondering if you have found an insurance company that would provice the cover you require? as i am in the same scenario and insurance companies are being difficult by me having student lodgrs? thank you

Concorde_Rules

I was with Home Protect and now with Fresh Insurance.

A few limitations on the policy (i.e. forcible entry or exit) for burglaries and limits on accidental damage.

Other than that ok, not had to claim yet though!