Landlord insurance - Insurance company stipulating term of tenancy

Briongloidin

I have previously rented out property to professional couple on a 12 month tenancy, which extended to 2 years.

I am now looking to relet, but only short-term and individual rooms with me retaining one bedroom for my use. I live abroad and may be coming back in the next 3 to 6 months to live in the house, hence this arrangement.

My insurance company told me that normally they insist on minimum 12 month tenancy?

Does anybody know what the 12 month minimum tenancy rule is about, from an insurance perspective?

Thank you.

Sleeper12

Briongloidin wrote:

Does anybody know what the 12 month minimum tenancy rule is about, from an insurance perspective?

I'd hazard a guess that they might suspect short tenancy is really air B&B

Briongloidin

No, that is not what I am planning to do, though if I were to, would this need specialist insurance?

Sleeper12

Briongloidin wrote:

No, that is not what I am planning to do, though if I were to, would this need specialist insurance?

I was just guessing. What I meant was would the insurance company see the tenants as being more transient and a higher risk. I can't think of another reason for wanting a 12 month stay.

Maybe try a different company

Baby01032012

For the reasons poster above says. Not a normal tenancy. Airbnb or not that is the type of insurance you will need. There are a few threads where you will be able to find posters who have had to get specific Airbnb insurance.

look into getting insurance for a rent a room setup where the owner still lives in the property as this is the setup you are describing. Does this even require additional insurance over your normal insurance which would cover “guests” staying in the house?

Mrs OBumble

Joslyn Grumpy Sundae wrote: »

lDoes this eveneed ... over your normal insurance which would cover “guests” staying in the house?

Yes it does.

Marcusm

Joslyn Grumpy Sundae wrote: »

look into getting insurance for a rent a room setup where the owner still lives in the property as this is the setup you are describing. Does this even require additional insurance over your normal insurance which would cover “guests” staying in the house?

The OP would never be able to make a claim under such a policy as he has not acted in good faith.

Marcusm

Marcusm wrote: »

The OP would never be able to make a claim under such a policy as he has not acted in good faith.

He clearly stated but he is retaining a room for his own use? How would he not be acting in good faith?

Lux23

Joslyn Grumpy Sundae wrote: »

He clearly stated but he is retaining a room for his own use? How would he not be acting in good faith?

But doesn't actually live there? They would be taking a serious risk by not taking out adequate insurance.

Ray Palmer

Just take out a 12 month policy and pay monthly and cancel it later on if things change.
The other thing is as you are going to be really renting a room you don't need landlord insurance and can get other suitable insurance policy