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Contents cover available for unoccupied property
Unoccupied Property Insurance
Do I need Unoccupied Insurance?
Are you going away for an extended trip? Maybe you’re waiting for a new tenant to move into your property? It’s important to know that a standard home or landlord’s policy isn’t suitable for these situations. Don’t worry though – here at UKInsuranceNET we’re ready to help you decide on the best solution.
There are many reasons why your property could be empty. You've inherited the home, it's being renovated, you purchased it at auction or it could be your holiday home. There are many situations that can arise after the home has been vacant for 30 days. An empty home is more susceptible to break-ins, fire, vandalism and degradation.
Protecting yourself from such hazards should be a priority.
When should I get unoccupied home insurance?
You need to let your current insurer know when your house is going to be empty as soon as possible. The policy you have might cover your vacant property, but it’s better to be safe than sorry. Most owner occupied and landlord insurance policies have a specified period of cover. This is typically 30-60 days.
If you’re lucky and your current policy does cover you, you need to double check a couple of things:
- Is the cover comprehensive?
- Have you familiarised yourself with the exclusions?
Some policies also ask you to arrange someone to come and check on the property at regular intervals, usually around every 2 weeks.
Can you get insurance for homes that are unoccupied for a short term?
You can get unoccupied insurance just for the months that you need it. You’re even able to get unoccupied cover for as little as 90 days. Something to keep in mind is that some insurers might limit how many short-term policies you can take out.
How much is unoccupied home insurance?
Insurers base the cost of your unoccupied insurance premium on the following:
- Your address
- The security that is currently in place on the home
- The value of the property
- The reason why the property is unoccupied
- The condition of the property
- The length of time the property has been unoccupied
The cost of the unoccupied insurance can also depend on how long you need the cover. Premiums for short-term cover are likely to cost more. This is especially true when compared with a standard home insurance policy.
Unoccupied property insurance can be expensive because, if something goes wrong, there’s only a small chance that someone will be there to resolve issues quickly. It’s important to look into different policies and get the cover that’s right for you. Each property is different and the circumstances can vary for each individual.
Are there ways of making the unoccupied insurance cheaper?
The first thing to do is to shop around for your policy. This can be very time consuming, but here at UKInsuranceNET, we have a team with 20 years of experience to help you choose the right cover.
There are other methods of keeping the costs down, these include but aren’t limited to:
- Join a Neighbourhood Watch Scheme – vacant properties are usually targeted by burglars. If you have a sign it lets people know that neighbours are keeping a close eye on the house.
- Raise the excess on your policy – Raising your excess can bring the premium down. But it goes without saying that the excess should still be affordable. You shouldn’t have to struggle to pay it if something happens.
- Secure your property – always double check with your provider before adding extra measures. This is because they could need you to use a specific standard of locks or alarms.
- Pay special attention to your pipes – using a controlled heating system reduces the chance of pipes bursting in cold weather. You can make sure the utilities are completely switched off, draining the water system
What does unoccupied property insurance cover?
The level of cover will depend on the policy that you take out, but there are some hazards to keep in mind. Storm damage, vandals, squatters, theft, flooding and property owner liability are can be serious. As with most other insurance policies, there's some different cover options available:
- Buildings Insurance
- Contents Insurance
- Public Liability Insurance for Buildings
- Public Liability Insurance for Contents
If the unoccupied property is a commercial building, you’ll need a different policy. You can find more details about Unoccupied Commercial Buildings Insurance here.
Whatever your requirements, at UKInsuranceNET we have a team of experienced staff who are more than happy to assist you. Call our office today on 01325 346 328.
*75% of all customers receiving an online quote in May 2019 could have obtained a cheaper quote over the phone, based on the information they provided