Online daily insurers do not usually offer a bespoke Coach House policy as the insurance world has been quite slow in accepting these properties being built at such speed. You can’t buy it online, unless you can find a specialist and you can’t buy it from major suppliers like Direct Line, Churchill’s, More Than etc. as it is today – 08/30/2017. It is a niche product and requires a specialized insurance provider.
Why? Quite simply, this is due to the responsibility of any garage that falls on the Freeholder property to insure, which is rented to the tenant who lives nearby. There are complex liability issues that most insurers are not interested in and therefore do not offer insurance.
The Owner must insure the garages if they are part of the Property Title of the property – otherwise, in the event of an accident (fire for example) the property cannot be rebuilt since the garages that form the foundation and base of the building, cannot be will be covered in the policy. You cannot issue a garage as an apartment, because it is not and you will be incorrectly insuring your property; again, this would mean that any claim would be denied as you will not have insured your property honestly and in good faith.
Coach House Insurance is therefore a niche product and not as widely available, but it is there! You must Insure the property as a Carport, and all Garages listed on the property’s title deeds must be listed on the Buildings Insurance Schedule.
When you initially purchase your Coach House, your attorney should inform you of this to ensure that the property is adequately and adequately insured, and that you cover your legal liabilities to the tenant of any garage. You must be informed of your legal responsibilities to all tenants and the fact that you must insure your garage as part of your property. Of course, you will not insure its contents, but you do need to insure the structure of the entire building.
As long as you insure the entire building, all valid claims submitted will be honored and your legal liabilities will be protected. Considering Coach House Insurance is usually not expensive, it pays to do it right. People expect premiums to be higher than ‘normal’ building insurance, but that is not the case.
