From the point of view of the insurance companies, there is a greater risk to the security of a person’s possessions if they are a house sharer, so premiums could be more expensive if you share a house.
The situation will depend to a large degree on whether there is already some kind of relationship between the house sharers looking for contents insurance.
Other factors that will determine how insurance companies react could include:
- Does each bedroom have its own lock? You might need separate policies.
- Does the house have stable locks and security systems?
- What are the occupations of the house sharers? Professionals might pay less than students.
An insurance company will either:
- Offer the house sharers a contents insurance policy that covers them all but most likely is more expensive and contains a number of very specific exclusions; or
- Will only offer each individual sharer the chance to take out their own contents insurance policy, which could work out individually cheaper.
It is worth noting that contents insurance for house sharers may not cover theft at all (due to an increased risk), unless there is obvious signs of forced entry. Compare quotes to find the right contents insurance for house sharers policy.