Insurers believe that with many people living in a property, the chances of damages, theft and loss are higher. It is also widely agreed among insurers that with many keys to that one property, there is more chance of burglary. This means that it is more probable that house sharers will make a claim on their insurance.
There are some companies that specialise in offering contents insurance for shared houses. If you live in a shared house and would like to insure your personal possessions then you may want to think about an insurance policy that covers multiple home occupants, or you could take out an individual policy.
One benefit of contents insurance for house sharers is that each person in the house will be on the same one policy. This could save you time and hassle when you need to make a claim or renew your policy
Many insurance providers will cover items such as:
- Electrical appliances
- Money/bank cards