Insuring HMO properties should not be an issue if you come to a broker with a wealth of experience like Goldcrest.
Whats different about us is that we have been arrange insurance for HMO’s for years now. This means we do not waste clients time by pretending we know about their risk, but ask specific detailed questions so we can extract the right details from the off to enable us to give you the best possible quote on the market.
A lot of people say I want insurance for my Home of Multiple Occupancy, but do not really understand what that means. There is actually no specific term as HMO insurance but it is actually rated as insurance for homes with multiple tenancy agreements.
So why is insuring an HMO a concern and difficult for many insurers
The fact is, that they deem it as high risk as there are many tenants inside instead of just one family. Due to this many insurers deem it a risk they do not want to quote on, hence why it is a market they want to avoid at all costs so may quote high just to make sure they are covered.
We however, cover for all tenant types and all forms of setups, whether it be a converted hotel full of homeless tenants to an property which is let to a letting company to received guaranteed rent.
Insurance for an HMO with Goldcrest is very straight forward as we know exactly what to do. It is pain free and we can get you on cover immediately. We use A rated insurers and have excellent claims handling facilities. So we not only focus on price when insuring these properties but also on providing an all round efficient policy which will work for our clients.