Standard home insurance policies will not usually cover properties that are left unoccupied for more than 30 consecutive days, especially at new business stage. Properties can be left unoccupied for a variety of reasons, including awaiting sale or waiting for the completion of probate, building work and general renovations or things like health care e.g. A long spell in hospital. If your home is left unoccupied for more than 30 days, or sometimes 60 days, your standard home insurance policy will most likely no longer be valid and would not pay out if you had to make a claim. Not only would you then have to pay for any damages out of your own pocket, you will have wasted money on a policy rendered useless in the given circumstances.
Unoccupied or vacant properties are deemed to be of a higher risk in the eyes of insurers due to lower levels of security and lack of ongoing maintenance. Therefore, it is important to get the right level of cover in place. Your existing home insurance provider might look at covering the unoccupied period, but would likely restrict the cover, increase the excess or increase the premium. For those reasons and peace of mind, it would be very sensible to arrange unoccupied home insurance cover. As the old saying goes: “It’s better to be safe than sorry.”
Omni Davis have many years’ experience dealing with these types of policies and we can find you a policy to suit your needs. You won’t necessarily need to insure your home for the usual 12 months that is required by a standard policy. Most providers will look at covering you for 3, 6 or 9 months with an option to extend if necessary. This allows you much more flexibility. If the property is undergoing renovations, you may also want to look at extra cover to protect against liability or damage arising from any building work itself.
Once cover is in place, you should still make every effort to reduce the risk of your property being damaged in the first place. Removing portable valuables, securing doors and windows with British Standard locks, using a burglar alarm and keeping an eye on any necessary exterior repairs are all important whilst your property remains vacant. In addition, you should consider draining water systems to prevent burst pipes and escape of water claims in cold weather. However, most insurers will allow you to maintain the central heating system at a low temperature to negate this process during the winter months. Regularly inspecting the property is also good practice as an empty home is an easy target for criminal activity, vandalism and in rare situations, squatting.
If you would like to know more or make an enquiry about how Omni Davis can help find the best policy for you, please contact us on:
Tel: 01403 785775 or 01243 864018
Email: info@omnidavis.co.uk
