Landlords insurance

[themalster]

Hi guys,

Bit of advice needed.

I'm trying to rent out a single room in my two bedroom house (i'll be living here too) for financial reasons.

Would I need landlord's insurance if I am just renting out a room or is it for when you are renting out an entire house?

[KARL]

In my opinion what you should do is contact your existing insurer who will quote you for an amended policy from the date your lodger comes into the picture. On the annual renewal of your insurance (or even before that, if your existing insurer is either too expensive or will not cover) you can then get quotes from alternative insurers - a landlord's policy is not required, nor is any house/contents insurance required (by law) in the UK but obviously you will decide what level of cover you prefer to have.

[Postdog]

If your home is mortgaged, strictly speaking you should also inform them too, but having let rooms before, you need get no other insurance as strictly speaking that is down to them. However, for your own insurance needs (basically covering yourself) you must disclose that you have a lodger. Failure to do so could invalidate any claim you make.

Be advised they might want details of the lodger, or rimpose restrictions and/or efuse to cover if the person concerned has a dodgy background.