What is unoccupied property insurance?
You probably already have buildings and contents insurance, but did you know that these policies will not cover you if your property is unoccupied for long periods of time?
Most standard property insurance policies only provide cover for a 30 day unoccupied period at the most and after that time, cover will likely be reduced to Fire, Lightning, Earthquake or Explosion Perils (FLEE), so you would be unable to claim on your insurance policy if you were burgled after that period of time.
It is possible with specialist unoccupied property insurance to have increased cover added back in.
With no-one living in the property if a flood or fire happened, the damage could be worse as it would have longer to take hold.
Why do I need unoccupied property insurance?
There are many reasons why you might own an unoccupied property and therefore need to protect your home and belongings, including:
- You are enjoying an extended holiday
- You are awaiting a sale or probate
- You are visiting family abroad
- You have temporarily moved out due to building work
- You have a long stay in hospital
- You have to travel frequently as part of your job
- You move into an assisted care home
The odds-on your unoccupied property being damaged are higher than the average home, as it may also be more likely to be targeted and broken into, so specialist unoccupied property insurance is well worth having for your own peace of mind.
What are the different types of unoccupied property insurance?
No two properties are the same, so an unoccupied property insurance policy can be tailored to suit your own needs.
If your property has a thatched roof or it is a listed building you may need specialist insurance cover while it is unoccupied.
Unoccupied homes are not a permanent situation, so insurers will offer you different time periods of cover.
Life is hard to predict, so this is taken into account too and you can extend the set period of time on your policy if you need to.
Other property insurance information: