Home home insurance - renting a room - owner occupier

[eirefinq]

hi,

am currently renting a room in my own house to another person - do I have to change the home insurance that I have as a result? what happens if someone breaks in and some of my housemate's stuff gets knicked? if I go to make a claim would the insurance company turn me down if i havent advised them that i am renting a room? also are there any other considerations that i havent thought of? please advise....thanks!

 

[peteb]

Check your policy wording. It makes no difference with some, makes a difference with others. If someone steals his contents that is his own problem, you can't insure them as you have no financial interest in them.

 

[Ravima]

you might need to notify them as they may wish to EXCLUDE theft except caused by forcible and/or violent entry, lest your tenant or any of his invitees run off with your stuff. You should also arrange to extend your policy to cover your liability to him.

 

[serotoninsid]

Definitely go out of your way to declare it when getting quotes. Been doing the rent a room gig for the past 5 years and have changed insurer a couple of times during this time (but always got multiple quotes each year). With some, it didn't matter. With others, it made a big difference to what they quoted. In my second last year of insurance cover, I only went to renew - and only found out at that stage that they didn't cover rent a room - and in effect, had I needed to claim, I would have been shafted.
So on that basis, make sure to declare it.

 

[hfp]

I contacted my insurer when I rented out a room to a friend, it didn't change my premium, but they did add a forcible/violent entry clause for theft.