What is HMO Insurance?

HMO insurance is normally described as a landlord’s property which is shared among a number of unrelated people. HMO is an acronym which stands for House in Multiple Occupation. HMO insurance provides the correct insurance.

Some HMO properties will require a license – this will normally be the case where the HMO is 3 storeys high and when there are at least 2 different & distinct households & where there are at least 5 unrelated people living there. Landlords of this type of building will require HMO Insurance – Get a Quote For HMO Insurance 

A license is obtained from the local authority and will be carefully inspected to ensure it meets the relevant safety standards, such as

  • Gas Safety
  • Smoke alarms
  • Carbon monoxide alarms

When a property is deemed to be an HMO and the very fact that licenses are sometimes required, can often mean that tenants have the added option (when compared with a normal rented property that is not an HMO) of being able to complain to the local council with a greater chance of the complaint or action being taken against the landlord. If things are not done to an acceptable standard a landlord can be prosecuted by the Council if the Environmental Health Department is less than satisfied.

Insurance under one roof

We are specialists in many types of insurance

It is also the within the landlords’ benefit of obtaining a licence if required, as it also ensures that they are legally allowed to use the Section 21 Notice for evictions etc. Failure to have one when they should mean they run the risk of losing one year’s rent in the form of a fine!

As a rule of thumb, a property is classed as an HMO where there are three or more tenants who share a toilet, bathroom or kitchen facilities for example. This may include the likes of the following:

  • Bedsits
  • House with students
  • A block of converted flats

An HMO will place certain service or standard levels on the landlord. All Landlords should keep abreast of HMO rules and regulations and also make sure their landlord’s policy covers HMOs. A property insurance policy is essential, many HMO Landlords have been caught out by thinking a standard landlord policy will cover them when it won’t. Some insurers will not cover HMO properties, so when it comes to making a claim, many landlords have been left to foot the bill themselves.

Property Insurance Centre HMO Insurance

HMO insuranceWe provide a wide range of cover to cater for nearly all types of HMO Insurance. Our insurance will provide HMO landlords with an adequate level of Property Owners Liability and the option to include Legal Expenses or Loss of Rental Income. We may also be able to extend cover to malicious damage by the tenant on some HMO properties.

Our policies can include some of the following perils:

  • Full Extended Accidental Damage
  • Loss of Rental Income
  • Malicious Damage (with the option to extend to damage by the tenant)
  • Escape of Water
  • Escape of Oil
  • Flood
  • Subsidence
  • Theft
  • Storm
  • Fire
  • Lightning
  • Earthquake
  • Aircraft or falling devices
  • Property Owners Liability up to £10 million
  • Legal Expenses
  • Terrorism Insurance

Must I take out an HMO Insurance Policy?

Taking out an insurance policy or HMO Insurance is not a legal requirement. An HMO policy is similar to a standard insurance policy in terms of the cover it provides the proposer. Some policies will allow for HMOs and some will not. What this means is, if you don’t declare to the insurer that your property is an HMO, then you run the risk of a standard policy being set up that does not cater for HMOs – this will be a problem when it comes to making a claim. You may simply lose out on settlement, due to the insurer not doing that type of business.

What does HMO Insurance not include?

Like many standard insurance policies, a policy designed for HMOs will not serve as a maintenance contract for your property. Maintenance always falls on the policyholder and this is important to understand. You will not be covered for the following (not an exhaustive list):

  • Wear & Tear
  • Storm damage to fences
  • Damp
  • Rot
  • Damage caused by animals
  • Unexplained loss
  • Loss of rental income in the absence of an insured peril

If you like some further information on HMOs you can access the Government website form here.

If you would like a Quotation for an HMO property then speak to us on 0800 085 3761. We have been insuring property since 1976 and all of our staff are Cert CII qualified.

Block of Flats

block-of-flats-insurance-middle-icon-01

Home Insurance

Holiday-Home-Insurance

Residential Landlord

Land Liability

Commercial Property

Why choose the Property Insurance Centre

Independent advice by approachable staff online or by phone

Access to a wide range of insurers to source suitable insurance cover for your needs

Bespoke Insurance Schemes & Portfolio Policies available

We can tailor your policy to suit your exact needs to give you complete peace of mind

Competitive Premiums

Cover available for the buildings while the property is being converted, renovated or extended

Over 40 years experience working with the best insurers in the UK

Excellent communication so that you understand what risks you are insured against

Why choose the Property Insurance Centre

Independent broker with staff you can speak to by phone or online

Access to a wide range of insurers to source suitable insurance cover for your needs

Bespoke Insurance Schemes & Portfolio Policies available

We can tailor your policy to suit your exact needs to give you complete peace of mind

Competitive Premiums

Cover available for the buildings while the property is being converted, renovated or extended

Over 40 years experience working with the best insurers in the UK

Excellent communication so that you understand what risks you are insured against

Why choose the Property Insurance Centre

Independent broker with staff you can speak to by phone or online

Access to a wide range of insurers to source suitable insurance cover for your needs

Bespoke Insurance Schemes & Portfolio Policies available

We can tailor your policy to suit your exact needs to give you complete peace of mind

Competitive Premiums

Cover available for the buildings while the property is being converted, renovated or extended

Over 40 years experience working with the best insurers in the UK

Excellent communication so that you understand what risks you are insured against

Specialists in Commercial & Residential Insurance

We have over 40 years experience as Residential and Commercial Insurance Brokers. We find the right policy to suit your needs and understand the risks that a property owner can face in the course of ownership. We work closely with our Insurers to get the best rates and our experience and excellent relationships with them mean that we can provide cover for even the most difficult to place risks.

Whether you have an adverse claims history, a high value property or a large portfolio of properties, we can source suitable cover for you. Whatever your requirements, we can tailor a specialist property insurance policy to suit your exact needs and provide you with a range of quotes to choose from. Established in 1976, we are not a call centre but a specialist insurance broker with a traditional office mentality, where the client comes first.

Looking for a quote now? Give us a call on 0800 085 3761 or complete one of our quote request forms.

We are also authorised and regulated by the Financial Conduct Authority and you can view our registration here.

Get In Touch:

We accept most payment types including:

UK Call Handlers & Dedicated New Business Team

Call Us on 0800 085 3761