I want to rent out a room in my house, what insurance do I need? This is something a lot of people overlook when they rent a room out. Acquiring insurance when you have a lodger is a lot more difficult, and it emphasises why you need to conduct the search for a tenant carefully.
Can I get shared contents insurance when I rent my room out? Shared contents insurance is available, but it can be difficult to secure and expensive. You will find that a lot of insurance firms won’t even quote for shared contents insurance. This is because there is a much greater risk to your belongings if you are sharing your property with a stranger. As you know, insurance firms don’t like to take on high-risk people, as it means you are likely to make a claim. It’s very similar to the struggle older people or those with prior health issues have when they want to take out medical insurance. You will find that some insurance companies may offer to cover you, however, they will exclude any type of theft that has not occurred via forced entry. Therefore, if your flatmate steals from you, you will not be covered. This highlights why it is so important to be diligent when conducting your roommate search in the first place. You need to ask all of the right questions to make sure the tenant is the right fit.
If you understand more about the insurance issue now, and still think I want to rent out a room in my house, how do I get started? This is where Bellrooms Ltd comes in. We offer an online advertising platform for anyone looking to rent out a spare room or space, and we currently offer this FREE of charge. For more information, please head to https://www.bellrooms.com/.