Home insurance on a property I don't live in
in Insurance & life assurance
2 replies 73 views
I purchased a house with my mum and step-dad in 2006 as joint tenants so we each had a third of the property. The property is now owned outright. I lived in the house initially but moved out in 2009.
Sadly, my mum died recently leaving my step-dad the sole occupant of the house and both of us having a 50% share of the property.
I wanted to take on the home insurance policy for my step-dad, as he isn't great with finances and is worried a little about how he's going to cope financially now. I do have concerns that he may cancel the home insurance policy.
When I spoke to the home insurance company to let them know of my mum's passing, they explained that as I don't live in the property I cannot be named on the home insurance policy or take it over for my step-dad. He would have to be the only one named on the policy as he's the only one that lives there.
Thinking of a worst-case scenario situation; should he cancel the home insurance and the house was to burn down and damage the houses either side, would I also be liable as a 50% owner of the property, even though I've tried to insure the property under my name and can't?
All the searches I've done online only seem to produce the scenario where a homeowner doesn't live there, but lets a family member live there rent free and I would therefore need landlord insurance. However, this is different as we both own the property.
Just wondered whether anyone has been in a similar situation, or if I should seek some legal advice.
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