Home Insurance

Ihtl

Registered User
Jan 19, 2016
82
0
My dad recently moved into a care home, my brother and I will for now at least, continue to live in the house that my dad owns.
The house insurance is up for renewal and going through a comparison website I'm being asked if I own or rent the property to be insured. I certainly don't own it and we won't be paying rent to my dad. What should I do?
 

Ihtl

Registered User
Jan 19, 2016
82
0
I'm having a look around I could, at least in theory, put the policy in joint names (it currently is, in mine and my dad's name), in my name and my dad's. That way at least one of the policy holders would be the owner and ethically as long as my brother and I pay for it.

But then the issue is, would that affect coverage if we were to make a claim and the insurance company found out that he doesn't live here?
 

arielsmelody

Registered User
Jul 16, 2015
515
0
I think it could affect the insurance if your dad doesn't live there - you should speak to the insurance companies directly to make sure you get the right cover. If you are doing it on behalf of your dad, you need to protect his assets so you can't really take out cheaper cover and hope it will be Ok.

But the other question is why aren't you and your brother paying rent to your dad? It would help his money go further when paying for the care home.
 

Ihtl

Registered User
Jan 19, 2016
82
0
I think it could affect the insurance if your dad doesn't live there - you should speak to the insurance companies directly to make sure you get the right cover. If you are doing it on behalf of your dad, you need to protect his assets so you can't really take out cheaper cover and hope it will be Ok.

But the other question is why aren't you and your brother paying rent to your dad? It would help his money go further when paying for the care home.

You're right, it's probably the best bet to consult the insurance companies directly.

Not currently financially viable after leaving work to care for my dad.
 

cragmaid

Registered User
Oct 18, 2010
7,936
0
North East England
Strictly speaking, I believe that the policy needs to be split into two parts...Dad being responsible for the Buildings cover and you and your brother being liable for the contents.
 

Ihtl

Registered User
Jan 19, 2016
82
0
Strictly speaking, I believe that the policy needs to be split into two parts...Dad being responsible for the Buildings cover and you and your brother being liable for the contents.

This makes sense actually and wasn't something I had thought of. I'll talk to the insurance companies anyway, but I imagine as I have POA I should be pretty straightforward for me to do.
 

Ihtl

Registered User
Jan 19, 2016
82
0
I thought I'd post an update as it may be useful for other people.

I spoke to our current insurers to update them and they were happy to simply reduce the number of people living in the property.

I spoke to another insurer who eventually said that as I have POA I could fill out an online application for a new building and contents policy as though I owned the house and put my dad down as a joint policy holder and call them with the quote reference so they could make a note of the situation with my dad.

All seems pretty reasonable to me. I may call round to a few other insurers for quotes but I doubt using a comparison tool would helpful given the circumstances.
 

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