Yes, in many areas, you are required to obtain an HMO license from your local council. Licensing requirements can vary, so it's important to check the regulations in your area.
Insurance for Landlords of Houses in Multiple Occupation
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Letting a property to multiple tenants living in one property comes with risks that may be different to typical buy-to-lets, meaning that a standard home insurance policy might not provide sufficient cover. That’s why a comprehensive house in multiple occupation insurance for HMO landlords is vital.
Having specialised HMO landlord insurance covers you against financial losses suffered in connection to a HMO rental property. It protects the building itself and risks such as injury or loss suffered by a tenant because of a fault with the building.
We can provide tailored insurance for bedsits, shared houses, student accommodation and all other types of HMO. Plus, multiple properties can be included under a single policy.
Speak to our team of experts in HMO landlord insurance for a free, no obligation quote.
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List of Covers and Features
Covers available**
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Accidental damage.
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Alternative accommodation.
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Buildings insurance.
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Employers liability.
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Fixed glass.
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Landlord contents.
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Legal expenses.
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Legal liability.
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Loss of rent.
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Loss recovery insurance.
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Replacement locks.
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Property owners’ liability insurance.
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Subsidence.
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Terrorism.
** As with all insurance policies, terms and conditions apply. Contact us for full details.
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HMO Property Insurance FAQs
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Landlord insurance and home insurance serve different purposes and cover different types of risks. Home insurance is designed for homeowners who live in their property. It protects the home and personal belongings against risks like fire, theft, and certain natural disasters. Landlord insurance is specifically for property owners who rent out their property. It covers the building itself and may also include liability protection and loss of rental income.
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A ‘house in multiple occupation’ (HMO), often known as a ‘house share’, is a property rented out to three or more tenants who are not from the same household and share facilities like kitchens and bathrooms.
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HMO properties must meet specific safety and health standards, including fire safety regulations, adequate facilities, and proper maintenance. Regular inspections may also be required.
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You will need specialised HMO landlord insurance, which covers the property itself, liability for tenant injuries, and potential loss of rental income. Standard home insurance may not provide adequate coverage. There are several important insurance implications to consider to ensure that you are adequately protected:
Property Cover: HMO landlord insurance should cover the physical structure of the property, including any fixtures and fittings. This coverage protects against risks such as fire, theft, vandalism, and certain natural disasters.
Liability insurance: Protection against claims made by tenants or visitors who may suffer injuries or property damage while on the premises. This is particularly important in shared living environments where the risk of accidents may be higher.
Loss of rental income: If the property becomes uninhabitable due to a covered event (e.g., fire or flooding), loss of rental income insurance can help compensate for the lost rent during the repair period. This coverage is essential for maintaining cash flow.
Tenant default insurance: This type of insurance can protect landlords against financial losses if a tenant fails to pay rent or breaches the lease agreement. It can be particularly useful in multi-tenant properties where the risk of default may be higher.
Legal expenses: Legal disputes with tenants can arise, and legal expenses insurance can help cover the costs associated with eviction proceedings, tenant disputes, or other legal matters related to the rental property.
Building and contents: If you provide furnishings or appliances in the rental units, you may need contents insurance to cover these items. This is in addition to building insurance, which covers the structure itself.
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