Owners of Coach Houses, are having a tough time finding Home Insurance for their property due to the fact that Coach House Home Insurance is not readily available. Insurers tend to back away from the risk because of the technicality of the liabilities surrounding the garages underneath property, leased on permanent leaseholds.
There are usually 1 or 2 garages leased on permanent leasehold to neighbours and this can cause all sort of disputes surrounding the Legal Liabilities of these shared access arrangements and lease hold agreements. The leasehold agreements tend to be on 999 year contracts, with the neighbours/tenants of the garages contributing to the cost of the buildings insurance.
If you own a Coach House – don’t despair! Whilst many insurers do shy away from the risk and will not offer cover – there are some Home Insurance Providers that are very tuned in to the legal liabilities of such arrangements and offer competitively priced home insurance.
A simple Google search will put you in touch with the right people who can offer you Home Insurance quotes at a reasonable price, without sacrificing on the Legal Liability protection needed to protect you.
Coach Houses are becoming increasingly popular to house builders, as they can build more homes in less space – so it is about time that more insurers looked into creating insurance policies to cover these risks – whilst insurance is available at affordable prices, it is not widely available, and choice of insurance provider is greatly reduced.
Something to watch for! When you purchase your insurance you will need a break down of the buildings insurance premium, excluding any additional extra’s you have included on your policy to suit your own circumstances- for example contents Insurance or home emergency cover. In order to claim a percentage of the buildings insurance back from neighbours leasing the garages – you will need to be clear about the cost of the buildings insurance element alone to avoid conflict. You can ask your insurer for a breakdown of costs for this purpose.
Finally, when it comes to buying any Home Insurance or Coach House Insurance, be as vigilant as always when it comes to reading the small print and understanding fully what you are, and are not insured for. Property Owners Legal Liability is the part of the policy especially critical for any home owners, but especially Coach House property owners, but this does not mean that you should sacrifice any other important elements of your Insurance. Stay focused, and take advice on what you should expect to be included!
Source by Hayley Connolly