Rent a Room Scheme and Home Insurance

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Ciaran

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Hi, was getting quotes for home insurance recently and I mentioned that I operate the 'rent-a-room' scheme. The broker told me that this changes the matter entirely and that I must apply for specific (more expensive) policies. I hadn't heard of this before - is it true? Do you have to declare that you rent a room when applying for home insurance? Thanks.
 
I'm doing the same - but started my home insurance well in advance of it. However, I was concious of the fact that I might be renting before year was out. I'm sure I mentioned it to the insurance company before getting a price. I'd imagine they take it into consideration but I doubt very much "that this changes the matter entirely".

 
It might change matters entirely. If a stranger is renting a room in your house, then surely you have to have public liability insurance???
 
Ciaran said:
Hi, was getting quotes for home insurance recently and I mentioned that I operate the 'rent-a-room' scheme. The broker told me that this changes the matter entirely and that I must apply for specific (more expensive) policies. I hadn't heard of this before - is it true? Do you have to declare that you rent a room when applying for home insurance? Thanks.
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I would expect that it would make a difference. The risk is presumably higher and, as mentioned above, you may need (additional) public liability insurance.
 
This is 100% an issue for most insurance companies as it represents a material fact. When you took out the policy you probably stated that the property was occupied solely by you and your family. Now you essentially have a lodger so will need to declare this to your insurance company.
 
Made no difference in my case (I am with Quinn insurance). They said I can have up to two people renting without it making a difference to my premium.


EDIT: Just realised that this thread is 4 years old!
 
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