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| *The Commerce Journal>>>Insurance |
Moving house but renting old one what about insurance? |
We own a flat but we are about to emigrating, and we are keeping the flat on for 6 months just in case we don't settle there but what about the insurance? You need to keep buildings insurance and CI if you have it(obviously not if the flat is owned outright)contents (unless furnished) is down to your tennant, you would probably find contents on furnished prohibitively expensive, if renting out furnished you must check that all items comply with fire regs. It's probably cheaper and less hassle to store what you have if you intend taking/shipping it to Australia. If you don't, I'd suggest you sell what you can and rent your flat unfurnished - tennants tend to have their own stuff and they will not look after yours! You must have builings insurance cover as part of the mortgage anyway. If you own the building it would be foolish not to have it insured - and make sure you tell them that it is being rented out to a 3rd party. Cunny is spot on. You *must have* buildings insurance. If you are renting it as "furnished" there are special policies for that. Depends on whether you are renting it out furnished or not. If it's furnished, even partially, you'll need buildings and contents insurance. If it's just the empty flat you're renting out, buildings cover should be in place. Please post additional details making your question clearer - I'm not sure I understand what your precise question is. :~ If the flat will be occupied you need a policy for let property insurance. If it i to be unoccupied then you need a special policy for unoccupied property. |
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