Home Exchange and Insurance
One detail that many home exchangers tend to leave until the last minute, is discussing their plans with their insurance broker. Immediately you decide to embark upon a home exchange it’s definitely a good idea to sit down with your broker so that you can familiarize him with your plans. Once he understands the concept of home exchanging, there should be no problems. Virtually all insurance companies companies are happy when they realize that your house won’t be left empty during your trip. If you’ve also arranged to swap cars, your existing insurance should cover the guest driver, but to be certain check with your insurer.
When drawing up your Home Exchange Agreement / Contract, stipulate that in the event of an accident, your guests should compensate you, not only for the deductible, but also for any increase in your premium. It’s also a good idea to book your tickets using a credit card that offers some level of trip cancellation insurance that would cover your expenses if your exchange was to fall through at the last minute and you had to pay for hotels and car rentals.
Reference: ExchangeHomes.com Home Exchange Agreement
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