Unfortunately for HMO landlords, HMO properties (house of multiple occupancy) are considered a higher insurance risk, so finding good value HMO insurance is often difficult. This is where we come in, to offer you a tailor made insurance quote.
As a HMO Landlord your liabilities, obligations and requirements change significantly to a standard let property owner. Consequently you will need a specialist policy to cater for this. This is where we can help; we tender the market and approach specialist underwriters who tailor their quotations to meet the proposer’s needs and regulations.
The most important thing when considering a HMO policy is how much the building is covered for.
Ideally, you must contemplate what would cover the cost of rebuilding from scratch in the event of a fire or natural disaster as well as covering loss of rent to tide you over.
At Goldcrest we are proud to be one of the UK’s best providers of HMO specific insurance policies and we will work with you to ensure that you have the right level of cover for your needs.
HMO Insurance Optional Benefits
Loss of rent and buildings cover are as standard, but other optional benefits we offer in addition are: alternative accommodation costs; landlords’ contents (if you have furniture in the property); contributions towards alternative accommodation for your tenants, legal protection, rent guarantee and public and property owners’ liability, in case anyone injures themselves in the property.
If you are a property developer and hire staff, it’s also important to ensure you have employers’ liability insurance to cover you for injuries or illnesses which we can also cater for.
Whether you own one property or a larger portfolio, finding the right Insurance is as important as finding the right tenant and at Goldcrest, we’ll find you the right level of cover to protect your properties:
Along with any type of tenant:
- DSS/Housing association
- Asylum Seekers
What Are Houses Of Multiple Occupation
HMO properties are also known as Homes in Multiple Occupation or Multiple Occupancy Homes which are properties found in the private sector housing that shares a bathroom or kitchen with someone else in the property (For example two separate bedrooms rented by different people but they both share the same kitchen and/or bedroom).
Find out more about HMO properties by clicking here.