Does house insurance have to be in the owner's name?

oceanscape

My parents own (with a mortgage) the house I live in. Does the home insurance policy need to be in their name, or is it fine for me to arrange it in my name?

Thanks!

Own_My_Own

Do you mean contents or buildings ?

oceanscape

Own_My_Own wrote: »

Do you mean contents or buildings ?

Both contents and buildings in a combined policy

Own_My_Own

The contents can be in your name as I assume you own the contents.

I am not an expert but would think the building ins would have to be in the same name as the mortgage.

Am sure someone will be along soon with a more in-depth answer.

Do you rent the property off them or just live there ?

seven-day-weekend

They will have to have specialist Landlord's insurance for the buildings cover.

You can have the contents in your name.

InsideInsurance

You have to have an insurable interest in anything that you insure.

Generally if you dont own a residential place then the owner retains the obligations of ensuring the building doesnt suffer from subsidence etc and thus they are the ones with the responsibility to insure against it but it is certainly possible for this to be passed to the tenant and insurers will allow tenants to buy B&C policies.

In the absence of a contract etc it is most likely simplest for your parents to insure it. In most cases it will need to be a landlord policy but a few insurers will allow a home policy instead when it is immediate family that live in the property.

Faith177

As Inside said you can have the contents and if you contact a broker they can sometimes arrange standard buildings insurance for your mum & dad with you living in the property.