HMO Insurance

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What is HMO Insurance?

House in Multiple Occupation (HMO) insurance is a type of insurance policy designed specifically for who own HMO properties.

HMO insurance policies typically provide coverage for a range of risks associated with this type of rental property, such as damage to the property, loss of rental income, and liability for injuries or damages that occur on the property.

HMO insurance may also provide cover for legal expenses in the event of a dispute with a tenant, or for the costs of complying with local HMO regulations.

Standard landlord insurance policies may not provide adequate coverage for HMO properties, as they have different risk factors and regulatory requirements. While the terms may vary, HMO insurance largely parallels a standard landlord insurance policy in terms of coverage, including property owners’ liability and risks associated with tenants.

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What our Comparison Expert Says

‘HMO style properties are becoming ever more popular as people look to reduce the costs of living. It is important though to appreciate the additional risks of multiple, unrelated people all living in a shared home. Our brokers will help explain and compare HMO polices quickly and easily.’

‘Consulting your insurance provider is crucial to understand the specific features, benefits, and cover that different providers offer.’

- Michael Tribe

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We’ve worked hard to refine our process and keep it as quick, easy and simple as possible for our customers.

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What Does HMO Insurance Cover?

There is some flexibility to customise your HMO insurance policy by combining various types of insurance, much like other types of landlord policies. The most significant features of HMO insurance include:

HMO landlord insurance cover can protect various types of properties that house multiple occupants, such as bedsits, shared houses, and student accommodations, and can provide coverage for multiple properties under a single policy.

Building Insurance for HMO's

This covers the cost of repairing or rebuilding your property’s structure if it sustains damage due to an insured event, such as fire, flood, or vandalism. It also covers permanent fixtures and fittings like bathroom suites and kitchen cupboards which is useful for shared spaces.

HMO property insurance offers flexibility in tenant selection and can include specific inclusions, exclusions, and conditions, making it essential to understand your coverage and potential additional features.

Landlord Contents Cover

This compensates you for any damage to the contents you provide, such as carpets or electrical goods in communal areas. However, this coverage is not required if your HMO is unfurnished.

HMO Landlord Liability Insurance

Landlord liability insurance: This covers legal expenses and compensation in the event that someone has an accident or has their belongings damaged due to your property, and takes you to court.

Specialist HMO insurance cover is distinct from standard buildings and contents insurance or regular landlord insurance, addressing the unique risks associated with properties in multiple occupations.

Unoccupied Property Cover

This protects your property if it is unoccupied for an extended period.

Who Needs HMO Insurance?

If you are a landlord who owns a property where 3 or more unrelated people live, then you will need HMO Insurance. A HMO property comes with a different level of risk compared to a standard home and therefore a different type insurance is required.

HMO landlord insurance is a specialized policy designed to cover the unique risks associated with HMOs, such as higher foot traffic and potential liabilities.

In many instance, local regulations will legally requiring landlords of this style property to have insurance. In many areas across the UK, there are licencing laws where landlords for HMO properties are required to obtain a licence and to obtain that licence, they need to insure the HMO property.

Insurance for HMO’s will protect you against loss or damage to your property as a result of neglect by your tenants. It will also cover other standard things that a home policy would.

Our agents will help you compare HMO insurance quotes quickly and easily.

HMO Legal Requirements

As an HMO landlord, it’s essential to comply with various legal requirements to ensure the safety and well-being of your tenants. Failure to meet these requirements can result in fines, penalties, and even prosecution.

HMO Licensing

In the UK, HMOs with five or more occupants from two or more households require a mandatory licence from the local authority. This licence ensures that the property meets minimum safety standards and is managed properly. To obtain an HMO licence, you’ll need to provide documentation, including:

Proof of ownership or tenancy agreement
Gas safety certificate
Electrical safety certificate
Fire risk assessment
Proof of adequate waste disposal

The licence is typically valid for five years, after which you’ll need to reapply.

HMO Fire Safety and Smoke Alarms

HMOs are required to have working smoke alarms on every floor, and these must be tested regularly. You’ll also need to ensure that your property meets the necessary fire safety standards, including:

A fire risk assessment
A fire alarm system
Fire extinguishers
Emergency escape routes

Failure to comply with fire safety regulations can result in serious consequences, including fines and prosecution.

HMO Room Sizes

As of October 2018, HMO landlords are required to adhere to strict minimum room sizes. The minimum room size for a single person is 6.51 square meters, and for two people, it’s 10.22 square meters. You’ll need to ensure that each room in your HMO meets these minimum size requirements.

Fitness for Human Habitation

HMOs must be “fit for human habitation,” meaning they must be safe and free from hazards that could cause damage to health or quality of living. This includes ensuring that the property is:

Free from damp and mould
Well-ventilated
Well-maintained
Free from hazards such as faulty electrical wiring or broken furniture

HMO Safety Requirements

As an HMO landlord, you’re responsible for ensuring that your property meets various safety requirements, including:

Annual gas safety checks
Regular electrical safety checks
Fire safety checks
Ensuring that all furniture and appliances are safe and well-maintained

Failure to comply with these safety requirements can result in serious consequences, including fines and prosecution.

By complying with these HMO legal requirements, you can ensure that your property is safe and well-maintained, and that you’re providing a good standard of living for your tenants.

Do I Need HMO Cover If I Already Have Landlord Insurance?

Landlord cover and HMO cover are all that different. However, when renting separate rooms out to multiple households or tenants, there is the increased chance of damage.

If you have a property portfolio policy for multiple properties, there is a good chance that a HMO property will be allowed. It is essential though that you confirm this with your insurance provider and should never just be assumed.

If you have a property that you insure that you turn into a HMO, it is essential that you change the policy for it to cover the additional list.

Frequently Asked Questions

What Does HMO Mean?

HMO stands for “House in Multiple Occupation.” It refers to a type of rental property where at least three tenants who are not from the same household live in the same property, and share common areas such as bathrooms and kitchens.

HMOs can be popular among students, professionals, and other groups who may be looking for affordable housing options.

In the context of landlord insurance, it’s important to note that HMO properties may have different insurance requirements than other rental properties.

Landlords who own HMOs may need to obtain specialised insurance policies that provide coverage for the unique risks associated with this type of property, such as increased liability and potential damage to shared areas.

It’s a good idea for landlords to work with an insurance broker who has experience in insuring HMO properties to ensure that they have the appropriate coverage.

Do I Need HMO Insurance If I Have Landlord Insurance?

If you own a rental property that is classified as a House in Multiple Occupation (HMO), you may need HMO insurance even if you already have landlord insurance.

Landlord insurance is a general term that refers to insurance policies that are designed to protect rental properties and landlords from risk.

HMO insurance is a specific type of landlord insurance that is tailored to meet the unique risks and liabilities associated with HMO properties.

HMO properties often have different insurance requirements than other types of rental properties. For example, HMO properties have shared living spaces and multiple tenants, which can increase the risk of property damage, loss of rental income, and liability for injuries or damages that occur on the property. HMO insurance can help protect landlords from financial losses associated with these risks.

How Much Does HMO Insurance Cost?

The cost of HMO insurance can vary widely depending on a number of factors such as the location, size, and age of your property, the number of tenants, the level of coverage you need, and the insurance provider you choose.

Typically, HMO insurance is more expensive than standard landlord insurance because of the increased risk associated with renting out a property to multiple tenants.

To get a more accurate idea of how much HMO insurance will cost for your specific property, it’s best to compare quotes for HMO insurance from several insurance providers.