A home insurance policy is necessary in case of a shared tenancy, as in all other types of tenancy. This contract, which can be signed by the flatmates or the landlord, should protect not only the inhabitants but also the property against specific rental risks.
What is the definition of a flatsharing?
Renting a flat to a group of individuals and sharing the costs is known as sharing. In theory, the accommodation is their main residence. For two flatmates, the accommodation must be at least 16 m2 and for each additional flatmate, the accommodation must be at least 9 m2. Each flatmate pays the landlord their share of the rent and charges each month, with each tenant having their own lease depending on the number of flatmates. Each flatmate must have a separate room of at least 9 m2. All flatmates have access to the common rooms (living room, bathroom, kitchen, etc.). Roommates are not collectively liable for the rent.
What guarantees are included in a flatmate's home insurance policy?
As a flatmate, you should have a minimum level of insurance to protect you from the hazards of renting. As opposed to third party liability, which provides cover in the event of injury to a third party, it is essential to obtain cover for the most common risks. There is a risk of fire, water damage and explosion. Choosing a multi-risk home insurance policy is the best option. It protects your flatmates, objects and third parties in the event of damage. It also protects the whole house, as well as the furniture and equipment in it. You are also protected in case of natural disasters, glass breakage, theft, glass breakage and other incidents.
How to choose the best home insurance for flatmates?
As you can see, flat share insurance is essential to protect each flatmate and to ensure that the flat share lasts. There are several options available to you. The best option is to go to a reputable insurer that offers not only standard packages, but also coverage tailored to this type of circumstance. This will ensure that you have the best possible protection. Choosing the same insurance company for all housemates is also a viable choice. It will be much easier to settle any disputes that may arise. Finally, study the contents of the contract carefully: exclusions, deductibles, insurance premiums, coverage offered, etc.