Home swap/ exchange - can't get insurance

Brisbee

We have been members of HomeExchange.com for about 5 years. It's a great way to get a cheaper holiday by swapping your home with another family. I have never had problems with getting home insurance before and have always checked that the company are happy for us to do a home swap. After all these are non-paying guests, similar to having friends stay, and you would have thought it was better to have your home occupied while you're away. However something seems to have changed. I have tried Hastings, Hiscox, Sainsbury, Direct Line, Swinton and they say the underwriters won't do it. The only luck I've had today is via a broker but the quote is 4 times the price of what we paid last year.
Has anybody else had similar problems or can anybody suggest a solution? Thanks.

paddyandstumpy

Avoid Swinton.

Regarding your situation, I wouldn't liken it to "friends staying over" as I presume you're either charging for this (akin to airbnb) or it's a straight swap beteeen two families, saving both families on hotel/lodging costs.

Either way seems to be a commercial arrangement, and letting unknowns stay in your house unsupervised??

If you've got away with it cheap in the past that's good, and I'd say you've been lucky, however it's not a standard risk and it doesn't deserve standard rates.

Brisbee

Thanks for your reply. I don't interpret it as a commercial transaction as no money changes hands. You do get to know the family beforehand and can check references from previous people they have swapped with. Hopefully there are some underwriters who see the growing sharing economy as a useful market and will offer competitive products accordingly. As your property remains occupied while you are away the risk is low.

jonesMUFCforever

Brisbee wrote: »

Thanks for your reply. I don't interpret it as a commercial transaction as no money changes hands. You do get to know the family beforehand and can check references from previous people they have swapped with. Hopefully there are some underwriters who see the growing sharing economy as a useful market and will offer competitive products accordingly. As your property remains occupied while you are away the risk is low.

You could come home to find every single thing in your house has been taken or the house trashed.
Likewise you could do the same to the place you are staying.
Whatever you think it is an unreasonable risk for an insurance company to take IMO.

paddyandstumpy

Money doesn't have to be exchanged for it to be a commercial transaction, you're swapping homes and both saving on hotel/lodging costs for the price of letting unknowns into your home.

Roser

Dear Brisbee,

My name is Roser and I write on behalf of HomeExchange.com

We are sorry to hear that you have experienced this issue with insurance companies in the UK, but we are very pleased to hear that you have now found a broker who can help. For the benefit of all of our Community, we are currently studying the possibility of offering optional insurance packages to our Members in the future.

Thank you and happy HomeExchanging!