At any one time, it is estimated that there are between 700,000 and 800,000 unoccupied houses in the United Kingdom, and may people have difficulty arranging an appropriate insurance cover that is both affordable and offers the level of protection that is required.
Who needs unoccupied home insurance?
Anyone who owns an unoccupied private house should consider the policy along with anyone who regularly leaves their property unattended for a period of 30 days or more. Most UK home insurance policies contain an occupancy condition in the policy that states that the property should not be left unoccupied for a certain period, usually 28 or 30 days at a time.
What cover is available for unoccupied home insurance?
We offer unoccupied home insurance from a small panel of specialist insurers, who in many cases are able to offer the same cover levels as standard house insurance without any or significant premium increase. We are able to offer cover in many areas of the country that are avoided by insurers as poor risks for subsidence and landslip or flooding.
Is cover available for unoccupied properties undergoing renovation?
If the property is secure and not undergoing substantial renovations to the main fabric of the building “full cover” is generally available. In cases where there is major renovation works, we will generally be able to offer cover that is restricted to reflect the increased risk. This cover will often be Fire Lightning and Earthquake only.
The price you pay for your unoccupied home insurance will depend upon a few key risk factors including where the property is located, whether the property is undergoing any alterations or repairs and whether there have previously been any claims at the property.
That aside the actual cost of unoccupied home insurance for the majority of policyholders is generally approximately the same as the cost of a standard home insurance policy on the same property.
There is a standard policy excess under unoccupied home insurance polcies and depending upon the provider this may be £100 or £250.
In some circumstances underwriters may choose to impose and increased excess to reflect an increased in the risk from the “norm”.
The policy excess under an unoccupied home insurance policy is the amount that you must pay in respect of each and every claim that occurs under the policy.
The unoccupied home insurance policy is available on both an annual basis and a short term basis. You can buy a policy for a specific period, for example 3 months, but for many the best option is to buy an annual policy payable on a monthly direct debit which can be cancelled if you no longer require the cover.
Yes, if you no longer require the policy your can either cancel the cover or convert it to a standard home insurance policy. You should be aware that if you have an annual policy payable on a monthly direct debit and you have a claim in the current year of the policy, the insurance company are entitled to the full annual premium for the contract.
This is a very common requirement and a policy can be taken out by the executors of the estate to protect the estate under a standard unoccupied home insurance policy.
Not only is this prudent but should be viewed as essential as the executors owe a duty of care to the estate to ensure that it is properly protected.
When you apply for unoccupied home insurance you will be sent a full written quote that details the cover provided, the premiums payable and any excess that applies. This will help you make an informed decision about the cover before you buy.
Apply on-line now and compare unoccupied home and unoccupied house insurance quotes.
We are a firm of professional insurance brokers we also provide a full customer support service to all our clients.
Behind the scenes, a team of professional insurance brokers reviews every quote and will help you to make any changes that may be required to secure the best possible terms for your unoccupied property insurance.
We have been established for over 30 years as an independent insurance broker providing a business and personal insurance service to clients across the United Kingdom. Our advisers are on hand to assist you with any and all of your general insurance requirements.