Insuring Your HMO (And Other Precious Items!)

The end of the year heralds house insurance renewal. Every year I promise to apply myself, compare quotes and wallow for the next year in the knowledge that I’ve secured the most competitive deal.

The reality is, when the broker calls I groan with resignation and tell him just to get on with it. As he flicked through his computer information on my claim history, he came out with “Oooo, aren’t you a good client? You haven’t made any claims in the last 4 years so it’ll be easy to get you a good quote”.

“Excellent!” said I “And if I HAD claimed in the last 4 years I presume my quote would have risen to affect the amount paid out?”

Silence.

“Well, yes, that can be a problem” he replied.

Me: “And that’s why I don’t claim. Find me a quote, don’t bore me with the details and just let me know the telephone number for when a house burns down”.

However, how many houses do actually burn down? With HMOs, we are rightly governed by so many fire risk assessments and regulations that, according to my recent chat with a man in uniform, “you can stand in the hallway for 30 minutes without a fire affecting you”. Great, so I’ve informed all tenants that, should a candle set light to the curtains or a cigarette get lost under the duvet cover, come out of the room calmly, stand in the hallway and enjoy the safety the firedoors, smokestrips and fire retardant plasterboard I give you.

Later, whilst chatting to a friend, she asked that, if I’ve never made a claim, why bother with insurance? I explained that with HMOs there is ALWAYS the possibility of a fire.  Especially when the tenants take it upon themselves to put sellotape over the fire alarms or, to my eternal amazement, ignore the backup low battery signal which emits every 30 seconds.

So, it doesn’t matter how well maintained the house is, how many fire precautions are in place or how many baths you replace with showers to prevent flooding, are you willing to risk your cash on the odds of an unforeseen event happening which costs more than the insurance premiums?

So this year I’m leaving a well known insurance broker due to lack of customer service and unacceptably high levels of marketing emails and switching to The Home Insurer.  They understand the nature of HMOs and, from my research, seem to pretty much insure anything else.  I’m also giving their number to my tenants for quotes as it turns out quite a few of them do actually insure their room contents!  (They’re also human beings, very experienced insurers and don’t give in if the computer says “No”).  Click the link or give them a call on 0800 612 5764 and let me know how you get on.

On another note of insurance, the police turned up to take a statement following the case of Simon, his friend, a night out and a broken window. After checking that I hadn’t given permission for the friend to chuck a flowerpot through the window in October, he gave me the crime number for “insurance purposes”. I laughed and said – “Unlikely, Officer!” We’ve settled for a community order whereby, should the police find the young man involved he’s under instruction to pay me the cost of the repair. When I told Simon he replied, “Sod that, I’ve already told his girlfriend I’m going to kick his head in when I next see him”.

There’s nothing like a bit of civil justice, eh?

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