Unoccupied insurance
IF you own a property that is empty for more than 30-days consecutively then chances are you will need vacant insurance for it and this is your easy guide how to put that in place without spending a fortune.
Vacant insurance is different from a standard household policy because it has to cope with an empty property and the risks associated with it. Those risks are things like weather damage, theft, squatters and electrical fire. These risks are increased when the property is empty for a long period of time – an opportunist thief walking past the property will quickly clock it is empty and may fancy his chances at taking the 42-inch plasma screen he can see through the window. You can we how the risk is increased because he probably wouldn’t dream of breaking into a home that has people in it all the time or at least a large proportion of the time he walks by as he could be caught.
To get this unoccupied insurance can be difficult and do not make the mistake of hoping your standard home insurance policy will cover it because if there is an investigation and it becomes clear that the property is regular empty any claim could be refused and your ability to get insurance in the future will be seriously harmed and prices will rocket because you will have a history of fraud.
Less than 30-days unoccupancy is normally ok on standard home insurance – just check your policy. Anything more than that and you will need to get specialist insurance in place from a knowledgable provider.
A specialist unoccupied insurance broker will understand your needs and requirements, have a handle on the risk and benefit from insurance underwriting tailored for this. They will take your details and quote insurance to you against the real risk. Generally because they know what they are doing and are experts they can quote you a realistic price that may well be less than you imagined or your standard home insurance could ever hope to match. That is because they are specialists and that is very important – you need their expertise. And you can sleep secure in the knowledge that your property, buildings and contents is properly insured.
To get this insurance is much easier now than ever before thanks to The Property Insurer which can introduce you to a vacant insurance specialist that offers low prices on its comprehensive insurance products. Visit today and make sure you are covered.
Jason McClean
The Property Insurer
