Tag Archives: unoccupied property insurance quote

An outline of a typical unoccupied property insurance quote

Here is a quick summary of some of the major points relating to an unoccupied property insurance quote:

  • why you may need it – the risk profile of your property may typically be seen to be significantly different between the states of being occupied and unoccupied with the latter exposing it to additional risks of cumulative unnoticed damage, burglary and vandalism etc;
  • when you may need it – there may be some differences between insurers but typically traditional home buildings and insurance or landlords insurance policies will cover an unoccupied property for a maximum of 30 consecutive days, after which standard landlords insurance may become invalid and continuity of cover may be maintained by starting with an unoccupied property insurance quote;
  • what it entails – a policy may typically offer you cover for your buildings and contents in a situation where your property is unoccupied but some policies may have different conditions that apply once the period passes a further threshold (perhaps 3 6, 9 or 12 months);
  • your obligations – it is always a good idea to carefully read the terms and conditions of any insurance document and in the case of unoccupied property cover, you may wish to note that you may be obliged to periodically visit the property to perform inspections, rectify immediately any internal defects that may lead to damage and to keep external garden areas in appropriate lived-in appearance (you may also find an obligation to ensure that you keep a journal of the days you visited the property and any work undertaken);
  • its necessity – keep in mind that if you make a claim under a standard landlords insurance policy and the insurer subsequently discovers that the property was unoccupied at the time the incident took place, you may find your claim will be refused and you may also become involved in fraudulent claim proceedings;
  • its ease – you may find it is very straightforward to pick up an unoccupied property insurance quote and that it is time well spent.

Looking for an unoccupied property insurance quote?

There may be a number of reasons why you are looking for an unoccupied property insurance quote:

Some reasons

  • the home you live in, or let out to tenants, might be undergoing extensive refurbishment and you are temporarily living elsewhere;
  • the property is on the market, in the process of being sold;
  • if you are a buy to let landlord, there may be a longer than usual interval between a changeover of tenancies;

The need

  • whatever your particular reasons, however, you are likely to be looking for an unoccupied property insurance quote because this is the special type of cover you need if the building is left vacant;
  • a dwelling that is left unoccupied is exposed to significantly higher risk than when there is someone at home. Empty buildings tend to be magnets for thieves and vandals, whilst the need for repairs and maintenance runs the risk of going unnoticed. For that reason, many standard home insurance policies, including buy to let home insurance plans, explicitly exclude cover, or elements of cover, when the building is left vacant;
  • whilst insurers’ definitions of exactly when the property becomes unoccupied may vary, but typically this is when it has been empty for longer than 30 or 45 days;
  • if this is likely to be the case with property which you own, therefore, you may wish to give serious consideration to unoccupied buildings insurance in order to ensure that sufficient protection is maintained;

Mitigating the risks

  • when considering an unoccupied property insurance quote, you may notice that many insurers typically expect you to help mitigate the risks to which a vacant dwelling is exposed and there are a number of ways in which you might help to do this:
  • regular inspections – by you or an appointed agent – for example, might help to spot problems and carry out necessary repairs and maintenance before serious damage is caused;
  • a record of those surveys, together with notes of the maintenance work and repairs carried out might need to be submitted to your insurer at regular intervals;
  • by draining down water and central heating systems, you might additionally reduce some of the risks of flooding and leakage from burst or fractured pipe work;