Lodger are tenants who live in your house with you - in a spare room for example. In some cases, having lodgers does not class you as a landlord and can be covered by having the arrangement noted on your standard home insurance, rather than taking out specific landlord insurance. But make sure you speak with your insurer before you assume you’re covered.
A common question from new landlords is “Do I need landlord insurance if renting to a family member?”. Renting to a family member doesn’t always make you a landlord in terms of your insurance. If they stay, without a rental agreement a standard home policy may be sufficient. This can differ between landlord insurance policies though so make sure you check with your provider.
Towergate’s landlord insurance policies allow you to dictate who you rent to whether they be family, students or professionals and can remain flexible should that tenant group change but in order to remain protected it’s important you understand what you are covered for at any one time.
For more information on landlord insurance browse our site or give us a call.
Date: January 27, 2015
Category: Commercial Property