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Old 11.05.2015, 16:11
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Insurance for flat in UK

We have a flat in the UK and one of our daughters lives in it. So which insurance is best for building insurance- as we are neither 'landlordd', nor do we live there, nor is it a holiday property as it is occupied all the time. Any advice. Thanks. Her content's insurance will not do it as an 'ad on' as she is not the owner.
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Old 11.05.2015, 16:20
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Re: Insurance for flat in UK

Unless she is under age or you are her 'guardian' then I suspect that it is a 'landlord' situation even if she does not pay any rent...

The risk of her living in it long-term without paying rent is that she achieves some sort of 'squatters rights' and if there is a relationship breakdown, she keeps the place...forever...

Opens a bit of a can of worms - what sort of tax offset do you get - does the declare the 'free rent' as a taxable gift from you... hmmmm.... maybe you need to speak with an accountant as well if she's working and earning money and you have a tax liability...or if she's claiming social security but living rent-free ?

Anyway, that's a side issue - but in Australia the general advice would be to write up a landlord/tenant agreement, even if the agreed rent is 'zero' - the issue of who is responsible for maintenance etc, renovations, approving changes to the building, ownership...opens quite a legal minefield, even if you assume that it will all be fine.

I have a family member in Australia who let an unrelated person live in a house they own...because they were a single parent with three kids. The agreement was that it would be 'until the kids are independent'...well 20 years later the kids are all moved out, but he's now fighting an uphill battle to move the guy out because there is no clear legal tenancy agreement....it's one person's word against another...

Found this link for you...
http://www.lawdepot.co.uk/contracts/...B#.VVCsUGaPZho

http://www.nihe.gov.uk/index/advice/...nts_rights.htm
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Old 11.05.2015, 16:21
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Re: Insurance for flat in UK

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We have a flat in the UK and one of our daughters lives in it. So which insurance is best for building insurance- as we are neither 'landlordd', nor do we live there, nor is it a holiday property as it is occupied all the time. Any advice. Thanks. Her content's insurance will not do it as an 'ad on' as she is not the owner.
I'd have said landlordd (which we'll assume is for landlords with big breasts) as you are technically one but issuing a zero amount rental contract.
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Old 11.05.2015, 16:24
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Re: Insurance for flat in UK

Tax implications for UK.
http://www.property-tax-portal.co.uk...ticle157.shtml
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Old 11.05.2015, 16:37
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Re: Insurance for flat in UK

The flat is of course declared here in CH for tax purposes- and previously we had it as a holiday home. As she returned from living abroad and needed accom. she first stayed there temporarily, but now loves it there and wants to stay- which is fine by us. We pay all local taxes, ground rent and utiliteis and have not mortgage on it.

She works and pays us some rent, but not a commercial rate, and we regularly go there to stay with her. I can't imagine our relationship breaking down however and her doing the dirty on us- we have our moments lol, like all mothers and daughters, but are the best of friends. She may buy the flat one day as she loves it there ... as much as we do

Last edited by Odile; 11.05.2015 at 16:48.
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Old 11.05.2015, 17:58
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Re: Insurance for flat in UK

Is it leasehold or freehold?
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Old 11.05.2015, 18:28
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Re: Insurance for flat in UK

Leasehold, hence the mention of ground rent above.
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Old 11.05.2015, 18:35
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Re: Insurance for flat in UK

http://www.directline.com/home-insurance/options
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Old 11.05.2015, 18:51
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Re: Insurance for flat in UK

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We have a flat in the UK and one of our daughters lives in it. So which insurance is best for building insurance- as we are neither 'landlordd', nor do we live there, nor is it a holiday property as it is occupied all the time. Any advice. Thanks. Her content's insurance will not do it as an 'ad on' as she is not the owner.
You need to explain to the insurance company EXACTLY the situation, if you don't the insurance may well not pay out as the contract is based on utmost good faith. UK insurers take this very seriously. It's also possible that most insurance companies will refuse cover as it's a non standard risk. A broker may need to find an underwriter at Lloyds of London who specialise in non standard risks.
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Old 11.05.2015, 19:02
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Re: Insurance for flat in UK

Absolutely- finding insurance is easy- they are always happy to take your Premiums and then use any excuse to wriggle out of paying, should there be a problem. Hence asking advice here to get it right.

I used to be with First Direct for my car- so will give them a go- explaining exactly what's what and checking the schedule very carefully.
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Old 11.05.2015, 19:10
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Re: Insurance for flat in UK

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Absolutely- finding insurance is easy- they are always happy to take your Premiums and then use any excuse to wriggle out of paying, should there be a problem. Hence asking advice here to get it right.

I used to be with First Direct for my car- so will give them a go- explaining exactly what's what and checking the schedule very carefully.
It's a specialist risk, you need to make sure it's quite clear on the proposal form, you need to use a broker, rather than buying a standard policy online.
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Old 11.05.2015, 19:36
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Re: Insurance for flat in UK

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Leasehold, hence the mention of ground rent above.
Well, my understanding was that for leasehold properties the building insurance is under the responsibility of the freehold owner? Leaseholders (even if they are thought to be "owners" of the flat as it's a long term lease) really only need to get contents insurance AFAIK.

I would check this issue with the management company first - they usually have info on the freeholder's insurance. Then talk to any insurance company - but most likely all you need is contents insurance in your daughter's name
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Old 11.05.2015, 21:35
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Re: Insurance for flat in UK

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We have a flat in the UK and one of our daughters lives in it. So which insurance is best for building insurance- as we are neither 'landlordd', nor do we live there, nor is it a holiday property as it is occupied all the time. Any advice. Thanks. Her content's insurance will not do it as an 'ad on' as she is not the owner.
It is not really a question of landlord or tenant, it is a question of who has what is called the 'insurable interest'. In this case it is clearly you as the owner, so you should not have any problem obtaining quotes from most insurance companies.
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Old 11.05.2015, 22:05
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Re: Insurance for flat in UK

Communal areas are covered- but I want cover in case of flood due to washing machine or boiler, etc, or a fire cause by one of our electrical appliances- both for our flat, but more importantly to damage to an appartment below. It's happened recently to the flat below- boiler problem flooded not only their flat but cause massive damage below- as the tenant was away on business. The landlord does not have insurance- so expects the tenant to pay. Made us think we had to make sure we are covered for such unfortunate accidents. Daughter has of course insured for contents and private possessions.
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Old 12.05.2015, 23:03
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Re: Insurance for flat in UK

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It is not really a question of landlord or tenant, it is a question of who has what is called the 'insurable interest'. In this case it is clearly you as the owner, so you should not have any problem obtaining quotes from most insurance companies.
Well, for leasehold flats the "owner" of the flat doesn't really own much of the building really - sometimes not even the internal walls. He just owns the right to live in the property for a (long) period of time. Most of the "interest" stays with the freeholder - the owner of the building who is responsible for insuring the building against fire, structural damage, etc. Leaseholders should only need to insure their own contents. Note they are already paying for the "building" part of the insurance as part of the maintenance fees which are usually part of a leasehold.

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Communal areas are covered- but I want cover in case of flood due to washing machine or boiler, etc, or a fire cause by one of our electrical appliances- both for our flat, but more importantly to damage to an appartment below. It's happened recently to the flat below- boiler problem flooded not only their flat but cause massive damage below- as the tenant was away on business. The landlord does not have insurance- so expects the tenant to pay. Made us think we had to make sure we are covered for such unfortunate accidents. Daughter has of course insured for contents and private possessions.
This I would clarify with the management company. For instance, in the case of a fire, you are responsible for what burns in your flat (contents) while the landowner is responsible for repairing the walls, windows, stairs, etc. So you only need to insure a much smaller amount. You don't need to insure yourself against the building and the contents of all the other co-inhabitants in the building.

Water damage is sometimes more problematic as there may be clauses in the lease that can make you liable... Sometimes content insurances offer more cover for this.

So get this clarified with the management company. To hear that "the landlord does not have insurance" is actually a legal case. The freehold owner is required by law to have insurance (I assume this is the person/company you refer to as "landlord"). In reality (often) freehold owners try do to as much as they can to avoid using their insurance and to push costs to the tenants.

Mind you, to complicate things, sometimes the "freehold" is owned by the tenants themselves who associate in a company - you should in principle already know if this is true in your case.
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Old 12.05.2015, 23:09
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Re: Insurance for flat in UK

P.S. Second the vote for Direct Line. Never used them but they're cheap. Norwich where quite OK when I made a claim (broken contents) but they're more expensive... Otherwise Lloyds used to have a good broker service (they provided a consistent policy but it was underwritten/serviced by a bunch of third party companies, mostly major ones). I'd get quotes from all 3.
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Old 12.05.2015, 23:26
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Re: Insurance for flat in UK

http://www.boshers.co.uk/let-property-insurance/

Hi Odile

I am very happy with these insurance brokers

regards

Annie
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