Unoccupied Property Insurance

There are any number of reasons why property you own might have to be left vacant for a while.

Empty and unoccupied property, however, attracts those risks and perils which have many insurers running for the door.

Typically, for instance, many providers of standard home insurance and landlord insurance make it a condition that the extent of cover is restricted or lapses altogether after the property has been unoccupied for a period of 30-60 consecutive days – the precise period varying from one type of insurer to the next.

What is unoccupied property insurance?

What is unoccupied property insurance?

Unoccupied property insurance – available from specialist providers such as us here at Specialist 4 Property Insurance – picks up from where your normal insurance left off, filling the gap, and ensuring that your vacant property remains as fully protected as when someone was living there full time.

What does it typically cover?

What does it typically cover?

Unoccupied property insurance is designed to make sure that your home or let property remains as comprehensively protected against such potentially major disasters as fire, flooding, impacts, storm damage, theft and vandalism as when it is continuously occupied and in use.

Because empty properties are vulnerable to greater risks that otherwise occupied property, however, you are likely to bear a special responsibility for taking all reasonable steps to mitigate any loss or damage.

Typically, this might include regular inspections of the property – helping to ensure that minor problems are addressed before they develop into major incidents – ensuring the property remains secure and taking commonsense measures not to advertise that the property is empty but to give the impression that it remains in use.

Who is unoccupied property insurance suitable for?

Who is unoccupied property insurance suitable for?

There are many reasons why the property you own may have to be left unoccupied:

  • you might be working away from home and the area in which you normally live for several months;
  • you might be taking an extended holiday to visit relatives or friends;
  • if the property is normally let to tenants, there may be a longish interval following the termination of one lease and the beginning of the next;
  • the property might be in the process of renovation or building works that render it temporarily unsuitable for habitation;
  • if you are moving house, your previous home might still be on the market for sale and remain empty until a buyer can be found; or
  • the property might be subject to probate, pending final decision on its sale.

For all these – and other reasons – the property needs to be left unoccupied and you might want to take the precaution that it still remains adequately protected with unoccupied property insurance.

Summary

Summary

To avoid the nasty surprise of the insurance on your property lapsing or becoming invalid once you have left it vacant for a month or so, you might want to take the precaution of arranging unoccupied property insurance to keep it fully and adequately safeguarded. 

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