A tiny house at the end of Chewton Commons Footpath. -Photo by Elaine Owen, Geograph Britain & Ireland Project
Insuring Your Tiny Dream
Last month we discussed some of the hurdles to overcome in obtaining financing for your tiny house, narrowboat or studio flat. Another daunting task is finding a company that will insure your unconventional dwelling place.
There is good news on this front in the form of Love Your Hut Insurance. This company based in Surrey, has over 15 years of experience in beach hut insurance. They are now offering a policy backed by Arch Insurance Company Limited of Europe (a leading specialist insurance company) which covers tiny houses, shepherd’s huts and beach huts, along with contents and rebuild costs.
Besides being fairly comprehensive and covering all the typical losses such as fire and water damage, the coverage is also relatively inexpensive. A chart on the website gives an approximate cost, which runs about £400 per year on a £45,000 structure. This should only be used as a guideline since the exact cost will be determined by the individual insured’s preferences.
The availability of affordable insurance is good news for all those wanting to build their own tiny home, since insurance is an essential requirement for all financed homes. Although insurance for tiny houses may be available through other agencies, there is a certain advantage to insuring your micro structure through a company that has an understanding of your goals and is supportive of them.
There are several insurance agencies which have sprung up in the US and Canada, specialising in tiny house insurance. This is certainly one of the first, if not the first, UK based insurance agency to fill this niche market.
According to Jonathan Kitchen of Love Your Hut, at present the structures they cover are insurable only as garden cottages, holiday homes and studios. However, the company is looking into the future of possibly insuring these structures as permanent dwellings as demand and property laws follow suit in the UK.
For more information, you may contact Love Your Hut Insurance at firstname.lastname@example.org, or call 01924 580990.