Are HMO’s covered by the same landlord insurance policy?
HMO’s are ‘houses in multiple occupation’, which is a house that has more then 2 occupants that are not family members, the most popular types of HMO are student houses.
HMO’s are considered as higher risk properties than other rentals such as single occupancy and as a result of this some insurers will not offer you a quote or charge you expensive premiums. There are complications in terms of sharing facilities and varying rates but as a general principle the cover varies very little from a standard policy.
However some insurers will accept certain types of HMO’s under standard landlord insurance such as student rents but not others such as bedsits. This is dependent solely on the insurance company and their exclusions.
You may wish to speak to a HMO specialist if you are struggling to find a quote or are unsure whether the insurance being offered is appropriate for you and your tenants.