Insuring Parents House Owned by Us

Murielson

We have bought the house in which parents live and now just want to insure for buildings only but it would seem everyone either wants to insure as let property or second home.

Could somone please advise the best way to approach insuring this property and any speacialists who may provide best premium. Thanks in advance.

seven-day-weekend

I think as far as the Insurers are concerned it IS a let property - owned by one person, lived in by someone else.

My house in the UK is lived in by my son and one lodger and we have Landlord Insurance from Alan Boswell

www.alanboswell.com

Mateus_2

Murielson wrote: »

We have bought the house in which parents live and now just want to insure for buildings only but it would seem everyone either wants to insure as let property or second home.

Could somone please advise the best way to approach insuring this property and any speacialists who may provide best premium. Thanks in advance.

Hi

The insurance will have to be Landlords Insurance as you rent the property to your parents. If you need further assistance do not hesitate to send me a pm.

Cheers
Goncalo

mrsS_2

we own the bungalow my mother in law lives in. we insure the building through direct line. i dont remember any problems except that it is slightly dearer because we dont live there. we dont charge her any rent by the way

margaretclare

mrsS wrote: »

we own the bungalow my mother in law lives in. we insure the building through direct line. i don't remember any problems except that it is slightly dearer because we don't live there. we don't charge her any rent by the way

Whether or not you choose to charge her any rent, the fact that you own it and she lives there means that you're her landlord and she's your tenant.

You should have a proper tenancy agreement in place. And who pays contents insurance - fire, flood, all the things that can happen?

mrsS_2

margaretclare wrote: »

Whether or not you choose to charge her any rent, the fact that you own it and she lives there means that you're her landlord and she's your tenant.

You should have a proper tenancy agreement in place. And who pays contents insurance - fire, flood, all the things that can happen?

you could well be right, but direct line didnt have a problem with us not having a tenancy agreement and didnt ask for us to set one up.

MIL pays the contents insurance, on the basis that they are her contents.

I was just trying to let the OP know that you can get insurance on this basis without having to have all the tenancy agreements if you want, and the insurance company that let us do it.

serious question why do I need to have a tenancy agreement? I dont think I would be popular if I tried to evict my own mother in law - are there issues that I and the OP need to be aware of please?

thanks for your help