Home insurance with lodgers

sourpuss2021

But theft by the lodger is the main risk you would want to insure against!

Sandtree

sourpuss2021 said:

But theft by the lodger is the main risk you would want to insure against!

Really? You'd be more concerned about that than your home burning to the ground? May be more likely but most are worried about bigger losses than what the lodger can fit in the car.

The issue from an insurers point of view is that its just too easy to point the finger at your lodger (or your flat mate if your sharing) when in reality your Tablet broke down and you decide to chuck it and blame the lodger for steeling it. 

diystarter7

A heads up to all.
If you have a home ins and or a mortgage, it is your duty to advise the lender, or insurance co.
It is common sense to do that as all make it clear that  'any change of circumstances you need to tell them

The last thing you want when trying to make a few quid is for the house to burn down by your lodger when he/she forgot to take the oil pan off the stove.

It's good practice to apply the above method to all insurance and similar.  At times there may be no additional costs but come a claim, the claim may be invalidated.

sourpuss2021

Sandtree said:

sourpuss2021 said:

But theft by the lodger is the main risk you would want to insure against!

Really? You'd be more concerned about that than your home burning to the ground? May be more likely but most are worried about bigger losses than what the lodger can fit in the car.

The issue from an insurers point of view is that its just too easy to point the finger at your lodger (or your flat mate if your sharing) when in reality your Tablet broke down and you decide to chuck it and blame the lodger for steeling it. 

Well I'm in an odd situation anyway, as I'm a long-term private tenant in a London flat.  Landlord cares absolutely nothing about the condition of the property.  But I'm allowed to have a lodger who might nick my TV!

[Deleted User]

sourpuss2021 said:

But theft by the lodger is the main risk you would want to insure against!

Your 'insurance' against that is to do necessary vetting and precautions. If I was your lodger and I stole from you, you'd call the police and direct them to my family home, recovering the items, or reducting from the secuirty deposit. I would be arrested, I would lose my public sector job etc....this leads me to wonder what sort of scenario you are imagining with a logder stealing from you and why you dont feel that at least some of the above safeguards could be in place?

The main risk that you should be insuring against is that they trip on your hall stairs carpet and are crippled for life suing you for £££££. I recall being able to choose public liability at 5 or 10 million.

Back to the question of a lodger stealing. The main security device against theft/burglary of ones home is the locked front door. What sort of a price will you pay for an insurance product where the theif is invited in.

newbie8

I’m not worried about theft to be honest. There is nothing of value to pinch. The TV is smart but old. They could pinch the sofa or fridge freezer but it wouldn’t be a quick job 😂 

does anyone know of any insurers who would cover my house ane contents. I’m more worried about the building than my laptop  

jaizan

Many insurers will cover your house and contents.

They just will not cover your contents for theft where there is no evidence of forced entry.   So you need a certain level of trust in your lodgers.

Where you really need to watch out is the small print.   e.g. Hastings Direct require me to phone them every time the number of lodgers changes.    They will not do anything sensible like cover me for "up to 3 lodgers".      If the number of lodgers decreases from 3 to 2, I need to phone them.  

So time to change insurer !

sourpuss2021

Interesting to read this thread again.   To be honest I have never asked a lodger to give me their parent’s address or an emergency contact.   When they are grown adults this would feel awkward.   Also they are often from overseas so may not be much use anyway.    

With my current lodger, the first in a few years, I got in the habit of locking my bedroom door every time I went out.   Then a few months in, I stopped.  I think doing it was making me feel anxious.   

Haven’t been robbed of my stamp collection or sock drawer yet , and fingers crossed I won’t be!

propertyrental

Phoning the insurer's customer service line to ask is likely to just lead to confusion and/or misinformation. They rarely understand the difference between lodgers and tenants. Read the policy document yourself instead.

Generally speaking, most standard residential policies will be valid if you have a lodger, though as pointed out unlikely to cover theft without forced entry. There again, unlikely to cover you if you go out leaving the front door open either!

I'm also doubtful that there's any need to inform and/or get consent from your mortgage lender as was suggested by someone earlier. And as with the insurance help line, ringing your mortgage lender could also cause confusion with the adviser then trying to make you apply for a BTL mortgage.......