HMO Insurance

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Why Compare Cheap HMO Insurance Quotes With SimplyQuote?

Do you own a property with multiple tenants who share amenities like kitchens and bathrooms? If so, you need HMO insurance to protect your investment.

Now we know what you’re thinking – how does a landlord have time to source multiple insurance quotes from numerous insurers? That’s where we come in, offering a streamlined solution for insurance comparison.

SimplyQuote takes the hassle and stress out of comparing HMO landlord insurance cover, giving you peace of mind so you can continue doing what you do best: managing your rental properties!

Whether you currently have tenants in your property or are waiting for your first tenants to arrive, use SimplyQuote’s 100% free, online comparison tool to streamline the entire process for you.


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Why Do You Need HMO Insurance?

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What Are The Different Tenant Types Of HMO Properties?

What Does HMO Insurance Cover?

What Add-Ons Are Available For Your HMO Insurance Policy? 

HMO landlords can add these additional features to their HMO landlord insurance policy:

Legal expenses insurance

Legal expenses insurance covers any legal fees you may incur in the event of a dispute. You must have legal expense coverage if you have an HMO property, as you may be subject to claims from multiple parties at once.

Rent guarantee insurance

Rent guarantee insurance compensates you financially if the people you rent your house to do not pay their rent. It is also called tenant default insurance, covering you when tenants default on their rental payments.

However, you must prove you’ve conducted financial checks on your tenants before making a claim. Speak to your insurer to learn what information you need.

Loss of income insurance

Loss of income insurance protects you if renters need to move out of your property due to an insured event, such as fire or flood damage.

Alternative accommodation cover

Alternative accommodation cover provides financial assistance when your tenants require alternative accommodation. Let’s say your tenants have to temporarily move out while your HMO property is undergoing fire or water damage repairs.

Unoccupied property insurance

Unoccupied property insurance covers obvious risks to any property standing empty. This kind of insurance protects your property even if there is no one living in it but generally only for a limited period of around 60 to 90 days.

Home emergency cover

Home emergency cover covers various household crises, such as electrical shorts and plumbing issues. Some insurance providers may also cover boiler repairs as part of landlord policies.

Accidental damage cover

Accidental damage cover allows you to repair any unintentional damage on the property, reimbursing you for money spent on repairs. For example, a tenant mistakenly pierces a water pipe when hanging a picture frame, leaves a tap running that floods the bathroom or breaks a window when playing football in the yard.

Malicious damage insurance

Malicious damage insurance compensates you if/when tenants deliberately damage your property. It usually covers events like arson, broken furniture, and graffiti. You must present your insurer with proof that the damage was caused with intent.

Employers’ liability insurance

Employers’ liability insurance is a legal requirement if you employ staff at your rental properties. These employees may be cleaners, gardeners, estate or property managers. It covers you financially if your employee is injured because of the work they do for you. Without it, you will receive a daily £2,500 penalty fee until you have the right cover in place.

Terrorism cover

Terrorism cover protects you, your tenants and your properties against acts of terrorism (i.e. damage caused by someone part of an organised criminal group).

How Much Does HMO Insurance Cost?

How Can You Get Cheaper Insurance Rates?

How To Compare HMO Insurance Quotes With SimplyQuote?

Comparing HMO insurance quotes is a breeze with SimplyQuote on your side:

  1. Fill in the online form with details about yourself, your property, and your UK location.
  2. Select which optional add-ons you want to include on your policy.
  3. Compare quotes with SimplyQuote’s 100% free, online comparison tool.
  4. Save money on the best deal today.
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Frequently Asked Questions

What is HMO insurance?

HMO landlord insurance is a type of property insurance designed especially for landlords with HMO properties. These properties have multiple occupancies whereby numerous tenants live together, sharing common living spaces like kitchens and bathrooms but are not part of a single household. Examples include house shares or student accommodation.

How many tenants qualify as an HMO property?

Generally, properties rented by at least three people qualify as HMO properties. These tenants must not be related (e.g. family members, in a relationship); they live together and share the same common living spaces. For instance, three different working professionals live together.

Is HMO insurance a legal requirement in the UK?

No, you do not need an HMO landlord insurance policy by law.

However, we strongly advise you to have this insurance in place as it can save you a lot of money in the long run if claims are made against you. You must pay all costs yourself if you don’t have an HMO policy.

How much does an HMO licence cost for new landlords?

A new HMO landlord licence costs around £1,480.