Britons could see their home insurance impacted upon should they fail to inform their insurer that they are letting or sub-letting to a lodger, it has been claimed.
Matt Hutchinson, director of Spareroom.com, estimated earlier this week that the number of spare rooms being let in the UK has risen dramatically in the past year from a figure of around 477,000 to approximately 720,000.
In response to this, Malcolm Tarling, spokesperson for the Association of British Insurers, has stated that Britons who take on a lodger should inform their home insurance provider immediately of any changes to who is living in a residence, as this can have an impact upon premiums or in fact, if cover will be provided at all.
He commented: “If you are applying for insurance and you are taking a lodger, or if you have got a lodger, you should disclose that to your insurance company.”
Meanwhile, Mr Tarling added that some home insurance providers will require anyone taking on a lodger to disclose any criminal convictions by themselves or their prospective tenant, as this too have an affect on the cost of a premium.
