Why does having a lodger affect your home insurance?
How much you pay for your insurance depends on risk – for example, the risk of you getting burgled. That’s why some insurance providers will lower your premiums if you have better locks on your doors and windows.
Generally, insurance providers consider that a lodger is an extra risk. A lodger is one extra person with a key to your home, who you might not know much about. There’s always a risk that they might be careless, cause malicious damage or steal from you.
Getting home insurance for a lodger doesn’t mean getting a separate policy. It means changing your home insurance policy to take the extra risk into account. Some providers may not be willing to offer you cover if you have a lodger, so you may need to switch home insurance providers. You may be charged a fee for cancelling your policy part way through the insurance term.