Have you ever been declined an insurance claim after buying a house on auction? Here are some of the reasons why. When applying for the insurance we appreciate that it can be easy to forget some of…
If your property stands unoccupied for more than a maximum number of consecutive days, typically specified in the policy detail, any standard landlords' cover may become invalid.
There is a fine balance to be had when it comes to renovating or decorating your investment property.
As you may be aware, elements of your buildings and contents insurance may become invalid in situations where your property sits unoccupied for more than a specified period of time.
Both landlords and private property owners often want to insure themselves against all the risks that their properties may face in order enjoy greater peace of mind.
If you have a careful read through the detail of your property insurance policy, you'll typically come across a clause or condition relating to the occupancy status of the property.
The simple answer is that unless you have made alternative insurance arrangements, you are almost certainly not covered if the property remains empty and unoccupied for as long as four months.
Unoccupied property insurance is an area of cover that occasionally catches property owners out and at other times causes confusion.
It appears to be quite illogical that there is such a widely acknowledged shortage of housing in the UK whilst government statistics put the number of empty homes in England at 635,000.
Many property owners do not realise that they are not automatically covered when their property remains unoccupied for an extended period of time.
The small print of an insurance policy rarely seems to make very interesting reading, but here are a few reasons why you might want to break your normal habits and take a closer look.
Probably the most important consideration when buying any kind of insurance is to choose the policy that most closely suits your needs and circumstances.