IF your property is currently empty as you are between properties, or if you have inherited a property that you intend to sell, or you may be renovating or refurbishing a property – in all of these these instances you need specialist empty property insurance.
Why do you need specialist cover?
Standard home insurance policies usually exclude certain ‘perils’ such as theft, malicious damage and escape of water if you leave your property unoccupied for over 30 or 60 days. The risk for properties kept empty for extended periods is increased with no-one living in the property to maintain it or keep it secure. Escape of water is a significant problem in an unoccupied property and water leakage can cause significant damage if it isn’t identified and repaired. Empty properties are also at risk from to theft, malicious damage and squatters; in these instances claims can be expensive due to the amount of clearing up and repairs.
What cover is available?
Specialist insurance provides cover for fire, lightning, earthquake and explosion, other options (or add-on’s) include malicious damage, theft and cover for your contents, and you can usually get cover for a short period if you don’t need cover for the full 12 months.
Insurers will normally include property owner’s liability cover as standard; this enables you to meet any costs and damages if a member of the public suffers an injury while at your property.
How much will I pay?
Premiums will depend on a range of factors; Insurers take into account the reasons for the unnocupancy (e.g. refurbishment, imminent sale), and the security of the property will be a major factor and also whether it is checked at regular intervals. Proof of regular maintenance checks and servicing to appliances within the property may also be required
What next?
Here are our 3 steps to a great deal for empty property insurance: -
1) visit www.thepropertyinsurer.co.uk and click on unoccupied insurance.
2) Click on ‘Get a Quote’ and complete the online form, that only takes a few minutes
3) Providing your circumstances are straightforward you will get a competitive quote returned. If there are unusual aspects to your circumstances, such the property having a history of subsidence, or you’ve suffered previous claims then it may require a telephone conversation to finalise, in those instances our specialist provider will contact you and make the request.
Our empty property insurance solution is provided by one of the UK’s leading specialists providers, they will offer cover that meets your requirements and your budget, so you can be assured of a great deal from The Property Insurer.
Doug Phelan
The Property Insurer
