Home Insurance - Add my wife ?

Dan-Dan

I am exchanging today , i have a quote ready to go , in my name only , i am assuming in the event we get burgled , i would report what was stolen and make a claim , even if it`s for ladys clothes , what business is it of the insurer if i cross dress ?

Secondly , should i die , my wife will inherit the house , and will need to insure accordingly in her own name

BUT we have a joint life assurance wth CI set up which would clear the mortgage in that event , so in essence that would be her choice

Is that about right ?

Dan-Dan

Dan-Dan wrote: »

I am exchanging today , i have a quote ready to go , in my name only , i am assuming in the event we get burgled , i would report what was stolen and make a claim , even if it`s for ladys clothes , what business is it of the insurer if i cross dress ?

Secondly , should i die , my wife will inherit the house , and will need to insure accordingly in her own name

BUT we have a joint life assurance wth CI set up which would clear the mortgage in that event , so in essence that would be her choice

Is that about right ?

Sorry guys , anyone got any thoughts on my way forward as above?

cheers

dacouch

Dan-Dan wrote: »

I am exchanging today , i have a quote ready to go , in my name only , i am assuming in the event we get burgled , i would report what was stolen and make a claim , even if it`s for ladys clothes , what business is it of the insurer if i cross dress ?

Secondly , should i die , my wife will inherit the house , and will need to insure accordingly in her own name

BUT we have a joint life assurance wth CI set up which would clear the mortgage in that event , so in essence that would be her choice

Is that about right ?

If you Insure the Building and Contents in your sole name, should you want to claim for your wife's contents the Insurers will often want confirmation she satisfies their definition of being part of your family. This may be a copy of your marriage certificate or they may take your word for it.

The definition if your family or household will be in the policy wording under "Definitions" or "Words we use".

You would end up in problems if you try and miss lead the Insurers.

Your wife will not be allowed to handle the claim or make adjustments on your policy without you giving the Insurer your permission.

If anything happens to you the Insurer will either want to cancel the policy and start a new policy which can very occasionally cause problems or go through a process where they replace her name with yours.

If you read the links on "Insurable Interest" you may feel your wife has an insurable interest and decide to add her as a joint policyholder.

Have you tried asking the Insurers whether they have an issue with your wife being a joint policyholder as I suspect they will not mind and will probably encourage it (Assuming you speak to someone with some knowledge)

MoneyMate

Dan-Dan wrote: »

Hi
Exchanging soon , mortgage will be in my name only , is there a reason i should apply for insurance in my name only , or should i add both me and my wife?

Is there a benefit to either price wise?

Also does anyone know which insurers take TBC as move in date , just so i have it ready for exchange ?
Cheers

Great point I was wondering the same myself, you have now answered one of my queries, with the help of others on this thread. :beer:

Dan-Dan

dacouch wrote: »

If you Insure the Building and Contents in your sole name, should you want to claim for your wife's contents the Insurers will often want confirmation she satisfies their definition of being part of your family. This may be a copy of your marriage certificate or they may take your word for it.

The definition if your family or household will be in the policy wording under "Definitions" or "Words we use".

You would end up in problems if you try and miss lead the Insurers.

Your wife will not be allowed to handle the claim or make adjustments on your policy without you giving the Insurer your permission.

If anything happens to you the Insurer will either want to cancel the policy and start a new policy which can very occasionally cause problems or go through a process where they replace her name with yours.

If you read the links on "Insurable Interest" you may feel your wife has an insurable interest and decide to add her as a joint policyholder.

Have you tried asking the Insurers whether they have an issue with your wife being a joint policyholder as I suspect they will not mind and will probably encourage it (Assuming you speak to someone with some knowledge)

I have answered on the quote that i live with wife , two kids , pets etc , may give them a call later but things are pretty hectic , cheers dacouch

System

There is another device insurers use which is to "recognise the interest of XYZ in this property".

This is used where there is a long leaseholder as well as a freeholder, someone holding a beneficial as opposed to legal ownership, or where there may be multiple beneficiaries of a property held in trust.

The insurers like to know who else might have an interest in the property, but it doesn't mean they are joint policy holders.