The insurance question

A quick note before we start: this is general information only, not insurance, financial or legal advice, and it does not take account of your personal circumstances. People Like Us is not an insurer or a licensed insurance adviser, so please treat the below as a starting point and confirm anything specific with your own insurer.

Whenever someone is weighing up their first exchange, one question tends to surface: what about insurance? It is a sensible thing to ask, and the general picture is more reassuring than most people expect.

The general picture

Many people find they do not need special or extra insurance to exchange homes. Home exchange is often already covered under an existing home insurance policy, because guests are not paying to stay and it is not a commercial rental. Cover does vary, though, so the one thing we always suggest is a quick call to your own insurer to confirm what applies to you.

A few minutes well spent

Before a first exchange, it is worth a short conversation with your insurer. It can help to ask whether your existing home and contents policy covers non-paying guests staying while you are away (many policies do, though not all), whether there are any conditions such as notifying them beforehand, and how accidental damage is handled. In practice that rarely comes up, because members tend to look after each other's homes as they would want their own looked after.

If you rent rather than own, it is worth a look at your lease or a word with your landlord too. And remember that travel insurance is a separate thing: it looks after your trip, while your home policy looks after your home.

Why we don't sell our own insurance

We are sometimes asked why People Like Us does not offer its own insurance product, and the answer is a deliberate one. Genuinely good cover in this area is expensive, and thin or poorly designed insurance can give people a false sense of security, which can be worse than having none at all. We would rather be straight with you than sell you something that looks reassuring on paper and lets you down when it matters. So we are upfront: members arrange their own cover, and we always encourage you to confirm the details with your own insurer.

The bigger picture

Home exchange has always worked because of something no policy can provide: trust, and people treating each other's homes with real care. A quick check with your insurer takes care of the paperwork, and then you are free to enjoy the part that actually matters, living somewhere new as a local rather than a tourist.

So make the call, check the details, and go. 🏡

General information only. This article is not insurance, financial or legal advice, and it does not consider your individual circumstances. People Like Us is not an insurer or a licensed insurance adviser. Always confirm cover with your own insurer or a licensed professional.