Correct Building Insurance

don2345

Hi,

Thought this will be the best place to post this query!

My mother in law currently lives in my previous house rent-free and i want to get building insurance for that house. I understand for building insurance, the property has to be in the same name as the policy holder so therefore my mother in law can't have the policy in her name. Do I then insure it as a buy to let???

*Scarlett

Yes you would need to get buildings insurance for a let property even though your mother in law does not actually pay rent.

Many main stream insurers offer this type of cover - some require a tenancy agreement but if it's a family member occupying the property you might not need this.

You might find that there are certain exclusions as regards to accidental damage to the buildings etc and she would need to insure her own contents separately.

If you find a good quote on the comparison sites for buildings cover but the options don't allow for your circumstances, you can ring insurers directly (the price willl generally be more than if you are occupying the property yourself).

Also check for others that aren't on the comparison sites.

huckster

You have a choice. A landlords Buildings Insurance policy in your name or a standard Buildings Insurance in your name. If you go for the latter, you will need to inform companies that you don't live there, but have allowed a family member to live there.

You would have to look into whether there was a benefit to having a landlords policy, rather than a standard policy. Can't answer the question, as policy terms and conditions do vary quite a lot.