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    • Onawingandaprayer
    • By Onawingandaprayer 3rd Sep 16, 10:10 PM
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    Onawingandaprayer
    Contents insurance question
    • #1
    • 3rd Sep 16, 10:10 PM
    Contents insurance question 3rd Sep 16 at 10:10 PM
    We're purchasing an empty flat (an executor sale) but are unlikely to exchange and complete on it for a few weeks. Completing on ours next week though. The executors of the flat have kindly said we can move all our furniture into the flat rather than putting it into store.

    A very generous gesture, but we are wondering what sort of issues we might face (if any) transferring our contents insurance over to the new flat before we legally own it?

    Any thoughts?
Page 1
    • G_M
    • By G_M 3rd Sep 16, 10:17 PM
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    G_M
    • #2
    • 3rd Sep 16, 10:17 PM
    • #2
    • 3rd Sep 16, 10:17 PM
    You'll be uninsured. Your policy covers your possession in the named property.

    You could try discussing with your insurer but I strongly suspect they'll say no.

    Have you considered what would happen if the purchase fell through? and you could not get access to your possessions? Or they disappeared? Or were claimed by some other new owner?

    Bonkers idea in my opinion.

    Doing this after Exchange would have fewer issues, but they'd still almost certainly be uninsured.
    Last edited by G_M; 03-09-2016 at 10:29 PM.
    • davidmcn
    • By davidmcn 3rd Sep 16, 10:34 PM
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    davidmcn
    • #3
    • 3rd Sep 16, 10:34 PM
    • #3
    • 3rd Sep 16, 10:34 PM
    Given that buildings insurance for empty properties is vastly more expensive and restrictive than for occupied properties, I can't imagine that insurers will be keen to insure contents which don't even belong to someone who has the right to be in the property. If you go ahead with this plan I think you'd just need to cross your fingers rather than insure.
    • Onawingandaprayer
    • By Onawingandaprayer 3rd Sep 16, 10:43 PM
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    Onawingandaprayer
    • #4
    • 3rd Sep 16, 10:43 PM
    • #4
    • 3rd Sep 16, 10:43 PM
    Hmm, I hear what you're both saying. In 3 weeks or so, post completion, I'll be ringing my insurers and notifying them of my new address. So if I bring that forward to next week and tell them the new address then, before I actually own it, I'm on dangerous ground, legally? Just trying to recall what they ask when I inform them of a change of address.
    • Thrugelmir
    • By Thrugelmir 3rd Sep 16, 10:49 PM
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    Thrugelmir
    • #5
    • 3rd Sep 16, 10:49 PM
    • #5
    • 3rd Sep 16, 10:49 PM
    So if I bring that forward to next week and tell them the new address then, before I actually own it, I'm on dangerous ground, legally?
    Originally posted by Onawingandaprayer
    The policy cover would be worthless in the event of a claim.
    “A man is rich who lives upon what he has. A man is poor who lives upon what is coming. A prudent man lives within his income, and saves against ‘a rainy day’.”
    • davidmcn
    • By davidmcn 3rd Sep 16, 10:54 PM
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    davidmcn
    • #6
    • 3rd Sep 16, 10:54 PM
    • #6
    • 3rd Sep 16, 10:54 PM
    Hmm, I hear what you're both saying. In 3 weeks or so, post completion, I'll be ringing my insurers and notifying them of my new address. So if I bring that forward to next week and tell them the new address then, before I actually own it, I'm on dangerous ground, legally? Just trying to recall what they ask when I inform them of a change of address.
    Originally posted by Onawingandaprayer
    Your existing policy is almost certainly on the basis that your contents are in a property which you own and are actually occupying. It won't cover your contents while they're in what is effectively a storage facility owned by someone else.
    • silvercar
    • By silvercar 4th Sep 16, 9:00 AM
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    silvercar
    • #7
    • 4th Sep 16, 9:00 AM
    • #7
    • 4th Sep 16, 9:00 AM
    Good brokers should be able to help.

    At the end of the day renters take out contents insurers on properties they don't own but have consent to occupy. It shouldn't be impossible to find a policy. If your own insurer won't offer an extension policy to cover then try a broker.

    I've used 'alan boswell' and 'simply business' for non standard insurance in the past.
    • davidmcn
    • By davidmcn 4th Sep 16, 9:07 AM
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    davidmcn
    • #8
    • 4th Sep 16, 9:07 AM
    • #8
    • 4th Sep 16, 9:07 AM
    At the end of the day renters take out contents insurers on properties they don't own but have consent to occupy.
    Originally posted by silvercar
    Yes, but they are occuping the property, whereas the OP (I presume) won't even be holding a set of keys for it, just being allowed in to dump their furniture and then coming back on completion day.

    I know just about everything is theoretically insurable, I just think this is likely to be more hassle/cost than it's worth
    • Onawingandaprayer
    • By Onawingandaprayer 4th Sep 16, 9:09 AM
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    Onawingandaprayer
    • #9
    • 4th Sep 16, 9:09 AM
    • #9
    • 4th Sep 16, 9:09 AM
    Supposing we were renting the flat on a short term rental, which the owners have also offered to us an option (we think they feel guilty because probate is taking so long). Would this make a difference?
    • Onawingandaprayer
    • By Onawingandaprayer 4th Sep 16, 9:13 AM
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    Onawingandaprayer

    I know just about everything is theoretically insurable, I just think this is likely to be more hassle/cost than it's worth
    Originally posted by davidmcn
    Thanks for comments. It's 'worth' about £700, the cost of storage and removals into and out of store. Which is why we're pondering it long and hard.
    • Freecall
    • By Freecall 4th Sep 16, 9:21 AM
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    Freecall
    .... probate is taking so long
    Originally posted by Onawingandaprayer
    So hang on a minute, not only is a contract for the purchase not yet in place but probate has not yet been granted apointing the people you are dealing with as executors.

    You really do need to discuss all of this with your solicitor.
    • Onawingandaprayer
    • By Onawingandaprayer 4th Sep 16, 9:30 AM
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    Onawingandaprayer
    I have no qualms about probate. It's proving long-winded because the son of the late owner lives in Australia.
    • davidmcn
    • By davidmcn 4th Sep 16, 9:46 AM
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    davidmcn
    It's proving long-winded because the son of the late owner lives in Australia.
    Originally posted by Onawingandaprayer
    Is this much of an excuse these days? They have phones and the internet in Australia...

    Not sure whether they can legitimately rent the place to you without probate.
    • G_M
    • By G_M 4th Sep 16, 4:16 PM
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    G_M
    You can certainly rent the place from them if they grant you a tenancy.

    Though they would be mad to do so, and no solicitor would approve of them doing so. Just two examples:

    * suppose you changed your mind and refused to Exchange? They would be stuck with you as a tenant for a minimum of 6 months, and would be unable to sell to anyone else
    * they (the Executers of the Estate) would become landlords. They'd have to comply with 253 different laws and regulations as landlords

    Of course, this would be their problem, not yours, but though they may initially offer this option, I suspect as soon as they tell their solicitor, the option will be withdrawn.
    • Miss Samantha
    • By Miss Samantha 4th Sep 16, 5:04 PM
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    Miss Samantha
    There is no issue with insuring your belongings when you do not own the property.

    Issues could be: Length of time property is left unoccupied, third parties having access to it. These should be detailed in your policy, which you should carefully read.
    It would be best to explicitly tell your circumstances to your insurer. They may then refuse to insure, but at least you will be in no doubt as to the cover should something happen.

    The arrangement as described (which should be in writing) is not a tenancy, and not a residential occupation. It is essentially a licence to use the premises as storage.
    Thus, there would be no issue with eviction or (probably) many of the obligations of a residential landlord. on the other hand there would be no security of tenure.
    • G_M
    • By G_M 4th Sep 16, 6:38 PM
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    G_M
    The arrangement as described (which should be in writing) is not a tenancy, and not a residential occupation. It is essentially a licence to use the premises as storage.
    Thus, there would be no issue with eviction or (probably) many of the obligations of a residential landlord. on the other hand there would be no security of tenure.
    Originally posted by Miss Samantha
    If this is a response to my post above
    You can certainly rent the place from them if they grant you a tenancy.

    Though they would be mad to do so, and no solicitor would approve of them doing so. Just two examples:...
    that post was a response to the OP asking:
    Supposing we were renting the flat on a short term rental, which the owners have also offered to us an option (we think they feel guilty because probate is taking so long). Would this make a difference?
    However as a response to the original query (storage only) you are absolutely right.
    • Onawingandaprayer
    • By Onawingandaprayer 15th Oct 16, 5:47 PM
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    Onawingandaprayer
    Follow-up:
    In spite of wise counsel that this was a bonkers idea, we did it, for just under 4 weeks, the last 2 of which we moved in too.

    Thankfully all worked perfectly and we finally completed yesterday. A big risk, we know, but it must have saved us some £1500+ and was a superb gesture by the vendors. (Neither set of solicitors knew, of course, as they'd have had conniptions!)
    • G_M
    • By G_M 15th Oct 16, 6:02 PM
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    G_M
    Glad it worked out for you.

    And lucky you didn't need to make a claim. That would have been the point at which the insurer would have turned nasty (which kind of defeats the purpose of insurance).
    • Onawingandaprayer
    • By Onawingandaprayer 15th Oct 16, 6:28 PM
    • 585 Posts
    • 467 Thanks
    Onawingandaprayer
    Glad it worked out for you.

    And lucky you didn't need to make a claim. That would have been the point at which the insurer would have turned nasty (which kind of defeats the purpose of insurance).
    Originally posted by G_M
    Spent first week or so in a state of High Anxiety but then relaxed into it, a pretty bizarre situation.
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