The idea behind insurance is not rocket science; instead of sticking our heads in the sand and hoping the worst doesn’t happen (or only happens to another), we pay into a shared pot that promises to take care of us in case disaster strikes. And disaster can be anything from the mundane such as a burst pipe to the serious when a ceiling collapses.
When it comes to home swapping the landscape doesn’t change that much, a few more humps maybe but really there is just as much chance of the bathwater escaping as when you’re there. Unfortunately, whilst the landscape doesn’t change, the view does, especially if you’re an insurer. And it’s for this reason that the current home swap insurance environment can be described as slightly "confusing”. Many people assume that home exchanging would be automatically covered by their existing insurer but, unless you've contacted your insurers and have a confirmation of cover, then this sometimes is not the case.
Five steps: ensure insurance cover during a home swap
Please take the following five steps to ensure that your home is covered during a home swap, and like we said, it’s not rocket science or really even rocket salad.
1. Tell your insurer you’re planning on swapping
No one wakes up in the morning looking forward to speaking to their insurer, but it’s important they know what you’re up to, so pick up the phone and have ‘the chat’. The worst that they can tell you is they ‘won’t cover’ you and it’s better to know that now yes?
2. If they don’t cover you, don’t panic
Most residential home insurers look at having ‘strangers’ staying in your home a as an activity that will either compromise or worst case, invalidate, your cover. The former is OK, the latter is a pain as you will need to move your insurance to another insurance provider. The good news is GUARDHOG can help you with both so relax and give them a call.
3. Check you have the extra cover you need
There is a difference between your insurer allowing you to ‘home swap and being properly covered when you’re ‘’swapping”. You need to make sure you’re covered for the risks created by having guests to stay: accidental and malicious damage by your guests, theft, unforced entry (in case your guests leave a window or the front door open), and most importantly, public liability.
It feels awful to say it, but if you’re told you’re covered you need to read the small print to make sure that means what it should. If you want a second opinion then get in touch with GUARDHOG - they'll happily confirm if there are any holes so you’ll know exactly where you stand.
4. If you’re in a flat, we cover your neighbours too
It’s not just you GUARDHOG covers. Most building management companies tell us that their, so your, building insurance can also be compromised. When you’re using GUARDHOG they don’t just cover your contents, they cover you’re whole building, basement to roof so you and your neighbours can sleep easy.
5. So act! Check your cover
Sharing safely is great for you, great for your guests and great for your home so you know what we’re going to say: make sure you fill the gaps in your insurance.
At GUARDHOG their Host Cover insures you for the risks created by having guests to stay as well as making sure that if your existing insurance doesn’t pay out because of the guests, then they will. You don’t need to replace your existing insurance; GUARDHOG works on a 'pay per stay' basis so you only pay for insurance when you actually have guests to stay.
Interested in home swapping? Visit Home Base Holidays and browse stylish home exchange vacation offers in over 90 countries.
You can follow this conversation by subscribing to the comment feed for this post.