Why Do Landlords Need HMO Insurance?
Overall, HMO Insurance provides an important level of security and peace-of-mind for landlords, ensuring that their property is protected in case of damages or tenant issues. It also ensures that the landlord will be able to recoup lost rental income if tenants don’t pay up, as well as providing valuable legal advice and protection should disputes arise. Although HMO insurance can be more expensive than standard home insurance, the extra coverage it provides is often worth the additional cost for landlords with multiple tenants.
Features of Landlord HMO Insurance
Each HMO Insurance policy is tailored to the individual landlord, so the exact features and coverage can vary. Generally speaking, though, HMO insurance typically includes: