Home insurance - liferent and fee

Dhiammara

My parents live in Scotland, and the house is held under "liferent and fee" whereby I am the fiar and my parents the liferenters. Yesterday, my dad mentioned that their buildings/contents insurance was up for renewal shortly, and that the renewal paperwork made reference to him as owner of the property. This raised red flags for me that he might not be insured for buildings cover if anything happened as technically he's not the owner, and after checking with our family solicitors this was verified, The solicitor also mentioned that most individuals with this type of arrangement would look for 'landlord's insurance' although he didn't name any particular companies.

So I'm currently hunting for buildings insurance cover for my parent's house. I tried Direct Line first but apparently they can't help as there is no tenancy agreement - the right for my parents to occupy the house is expressed within the title deeds of the house itself so we have no need of a tenancy agreement.

Can anyone recommend a company that provides buildings insurance for properties owned under 'life rent and fee'? I want to sort this out for my dad asap so that he doesn't worry.

Many thanks in advance!

*Scarlett

Some companies will recognise this situation (maybe try the over 50's companies - Saga, RIAS, etc).

If the occupiers - parents- have a lifetime interest in the property they will insure it.

Dhiammara

Hi Scarlett,

Thanks for replying. They were already insured with RIAS. After speaking to RIAS last night, they were familiar with the situation, but can only insure my parents for their contents as they do not 'own' the property. It falls to me to insure the buildings as the 'owner' but I can't use RIAS as I'm not over 50 myself and RIAS recommended using the company with which I insure my own home. I did so but my insurer won't insure a property when I'm not resident myself so that's a non-starter.

Most insurance companies I've called don't know what 'liferent and fee' means (after saying they do) then express suprise that I'm non-resident. One chap at an insurance company said he'd checked with the underwriters but that they don't provide that kind of cover, and it might be better to just not mention the terms of ownership and say that I own the property and that my parents are the occupiers.

I'm trying to be completely open, which I thought was what insurance companies required, and just want standard buildings cover.

Any help or pointers to companies that can help would be greatly appreciated.