shop and house insurance

[Haille]

I am purchasing a shop unit and house for investment purposes.They are both in the same building same electricty supply and heating.When I go to insure it can I look for a quote for the house[giving total size of building to include shop.As I am not sure yet if I will re let the shop part or leave it as part of house.Do I have to insure shop under commercial insurance?
Is it viable to tell insurance company that I am changing shop area to living area and just get a quote for house? What is the best way to keep costs down?

 

[ClubMan]

Shop unit and House

 

[peteb]

You can get a quote for shop and house together on the same policies. I have seen insurers quote for a shop with flats/apartments above them so i dont see what the problem would be with this.

If there is a seperate entrance to the house and one to the shop, you could insure them as two seperate buildings. Its viable to tell insurers that you are changing the shop to a living area if thats what you are doing, if you are just saying that to get a cheaper quote and intend to keep it as a shop, if anything happened or the premises was ever surveyed by insurers you could claims repudiate or policy cancelled due to non-disclosure of a material fact so i wouldnt advise going down that route.

You basically need to decide whether you intend to keep the shop and then talk to a good broker about getting you the best price and what cover you need.