HMO Insurance

There are varying definitions of an HMO (house of multiple occupancies) , but generally speaking, the standard definition is if there are 3 or more tenants at the property forming more than one household and there are shared facilities (bathroom, kitchen etc). A large HMO is defined if the property is at least 3 storeys high and at least 5 tenants forming more than 1 household with shared facilities. Find out more in our article on What is HMO insurance 

More and more HMOs are coming under license and each licensing authority will have their own rules, but the main legal requirements are as follows:

• Annual gas safety checks
• Electric checks every 5 years
• Proper safety measures in place
• Ensure property is not overcrowded
• Adequate cooking and cleaning facilities
• Property is in a good state of repair

Yes, we are able to cover these.

Yes, we can provide rent guarantee for HMOs.

If it’s just that your tenant(s) have stopped paying rent then the answer is no, however, if the property has suffered material damage and is deemed uninhabitable following an insured event, then yes provided there was a tenancy agreement in place at the time of the loss.

A standard HMO policy doesn’t cover tenants defaulting, however, you can purchase an additional product that provides cover per tenancy for tenants defaulting. The price per tenancy but reduces the more tenancies you purchase it for.

If your policy provides malicious damage caused by tenants cover, then yes you can claim up to the limit stated in your policy schedule or in the policy wording.

Not all HMO insurances cover malicious damage, however, if this is an important requirement it may be possible to purchase this at an additional cost.

You can pay your HMO insurance through monthly direct debit payments or all pay annually

Yes, cover is available to most tenant types, however, there may be a variation in premium dependent on who the tenants are.