Home insurance if not living in property

meanmum

We are buying a house for our daughter to live in rent free. I realise that we as the owners will have to take out buildings insurance, but don't believe we need landlords insurance. Can we take out normal buildings insurance if we don't live there ourselves?
Can we also take out a contents insurance in our name to cover her belongings, or would she need a separate policy?

dacouch

Try Aviva and / or a local high street broker but avoid Swintons

FutureGirl

It's worth checking policy wordings as 'You and Your' can either refer to people that live in the property, or it can refer to you, and/or your family that live at the property.

From what i remember if it's mortgaged you will need your own buildings insurance anyway, but if it's only your daughter living there with only her belongings then it's best she gets her own contents policy.

Senior_Paper_Monitor

One of you plus her should go on insurance to cover all 'insurable interests' - any proper broker will ensure you have the right package for your circumstances

muppet610

As everyone else has said, you are best speaking to a broker.

It does depend on the insurer but most insurer's will insist on a property owners or landlords policy which should start from about £130 dependant on the rebuilding cost of the property and level of cover required. Most insurer's will also insist that a tenancy agreement is in place (even though no rent is paid she is still classed as a tenant). As you have pointed out you are NOT living there and most standard home policies are for owner occupiers.

With regards to the contents cover. As insurance is about financial loss and putting you back in the same financial position after a claim as before, any loss or damage done to the contents would be your daughters loss not yours and as such the insurance would need to done in her name.