IF you own a property that is unoccupied for more than 30 days then you may well need vacant insurance.
This is a specialist insurance product that covers properties that are likely to have long periods of un-occupancy or remain empty for whatever reason – holiday homes, rental properties without tenants, second homes or inherited homes.
Standard home insurance tends to allow a maximum of 30-days empty period and keep cover in place. This normally means things like London bolt hole flats for working in the week will not need specialist cover.
If you have a let property then check the clauses for void periods and empty property in your insurance. Let property insurance can allow more than 30-days and up to 60-days in some cases as the providers understand that it takes time to replace tenants.
Pure vacant insurance is for buildings that will not be inhabited for quite some time. It takes into account the unique risk that these buildings pose; risks like theft, burst pipes in winter, possible squatters etc. And it can do it all offering cover for 12-months without any limits on when you need to attend the property.
Vacant property is likely to be very valuable. Whether it is a small holiday cottage or an inherited mansion, the value is likely to be in the hundreds of thousands and you are going to want to make sure you have insurance in place to cover the asset and any contents within.
To get vacant insurance you really need to speak with a specialist provider such as The Property Insurer. It understands your needs and will offer a realistic price to match the real risk – something standard home insurance providers may not be able to do because the risk is anything but typical.
Standard home insurers may well try to win your business by forcing your needs into a standard home policy but be wary as it may not cover you adequately (not enough empty days) or simply charge a very high amount to cover the risk. You really want to avoid both cases and get the right cover at the right price.
So, visit The Property Insurer today for vacant insurance and you may be pleasantly surprised at the low cost excellent cover on offer.
