Coach House Property 2018

 

A coach house property is a flat/apartment above usually 2 or 3 Garages or Carports. When you buy a Coach House property you would normally purchase the freehold, and so it would fall to you to insure the whole building. As a freeholder one of the garages or carports would be yours, and the rest on 999 Year Peppercorn leaseholds to neighbours.

 

Coach House Home Insurance


As the Freeholder the Insurance for the whole building will fall to you. You must Insurance the property as a ‘Coach House’. NOT as a flat or apartment. You are required to insure the garages and carports on behalf of the leaseholders – the Coach House Insurance you need is very specific and a niche product that is tricky to buy online as easily as you would ordinary Home Insurance.


Where Can I Buy Coach House Home Insurance?


There are a few Coach House Property Specialist Insurers around – you need to target your online searches and make sure you shop around. Due to the nature of the Coach House these insurances require specific underwriting and costs vary greatly between providers/brokers. You will also need to make sure you are not slammed with admin fees.


Is Coach House Home Insurance Expensive?


No! It will require some effort in terms of research to make sure you have the right policy but it is not expensive. It is not expensive providing you are speaking to the right Insurance Broker anyway!


Do the Garage Leaseholders have to contribute to the cost of the Coach House Insurance Policy?


This will be determined by what is written in the Title Deeds of the Coach House Property – and what is written in the Peppercorn Leasehold Document. It is common that there would be a small percentage of the Coach House Buildings Insurance payable by each Leaseholder – but this is normally a nominal contribution – and it is only applicable to the Buildings section of the policy. The cost of Coach House Contents Insurance would have to be deducted in order to calculate what is owed by the Leaseholders.


Coach House Home Buildings and Contents Property Insurance


You should have a joint policy for the two elements as this will control overall cost for you. In the event of a claim you would only have 1 excess to pay – instead of having 2 policies and 2 Excesses.


It would usually at least double the cost of Insurance if you were to have a Separate policy for the Coach House Buildings Insurance, and the Coach House Contents Insurance.


At Homeshield we have a whole panel of Coach House Insurance Providers. We are competitive if not very Low Cost! We don’t charge administration fees, and we are very knowledgeable as we have been established in the Coach House Insurance market since 2006.


Call us on Free Phone 0800 612 2007.


Or Get a quote online here today!

 

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