What is Coach House Insurance?
Coach House Insurance is a bespoke and niche type of insurance policy tailored to specifically include Freehold and Leasehold Garages underneath a residential, Coach House property. There are some slight, but crucial differences between Coach House Insurance and ordinary Home Insurance.
Standard Buildings and Contents Insurance Policies do not allow for leasehold garages - and therefor would not pay out in the event of a claim, so you must ensure your Insurance policy refers to the garages and your Legal Liabilities are included..
If you managed to set the policy up online, or by telephoning a call centre by referring to the type of property as a Flat for example, it is very likely that if you submitted a claim the insurer would simply refuse to pay out - because you do not live in a flat. It could be perceived you have failed to tell the Insurer of the true type of property, or that when you received your policy documents referring to the building as a flat - you failed to tell them that there was an error. This is classified by Insurance companies as withholding material fact. Having not paid the correct premiums to reflect the correct risk, your insurer would almost certainly end your cover, and refuse your claim.
The best course of action is to seek out a bespoke and specialist Insurer that insures Coach Houses as part of their business - and not as a one-off. You are more likely to speak to advisors who know and understand how things work - they know what a Peppercorn Leasehold is, they understand the liabilities of the freeholder. Your policy paperwork will be exact and you will have peace of mind that you are adequately insured for every eventuality! Your insurance premium is unlikely to be any more expensive that regular Buildings and Contents Insurance, so please do not worry about the potential costs involved – contact us!
Your policy must note all the garages which form part of the building, most high street Insurers, Banks and Building Societies, and online providers DO NOT insure Coach House properties. The Liability of insuring the garages is too complex for standard online policies and requires more and more in-depth underwriting, and claims handling. The cost of providing Coach House Insurance is too high and specialised for most insurers to get involved in. You must talk to a specialist to make sure that your liabilities as the owner, are fully covered.
Coach House Insurance must include but not be limited to:
* All Perils – these are things like Fire, Storm Flood etc.. including Escape of Water
* Impact and Collision – This covers the property should anyone hit the building with a car – for example a slight miss when driving into a garage!
* £2m Property Owners Legal Liability, which is the part of the policy that protects your legal liabilities to the leaseholders.
Contact us on Freephone 0345 257 3977 for a free no obligation quote today, or simply some advice - so that you can make informed decisions about your coach house insurance.