Lodgers home insurance

If you decide that you are ready to take in lodgers then one thing that you absolutely must do is get in contact with your home insurance company and tell them that you intend to take on a lodger. Quite often having a lodger wont actually effect the price you pay for your insurance policy but they may restrict cover such as theft of contents by the lodger may be exluded.

If you fail to tell your insurer that someone else is now living in the property with you and intend on making a claim on the contents or buildings then you may find that the claim is repudiated on the basis that it could have been caused by the new person at the property. Some insurers may increase the excess you have to pay and therefore if you fail to tell them then they may feel like you were trying to cheat the system to save money.

So first things first when taking in a lodger, check your home insurance!