Insurance policies are renowned for having small print to catch out the unwary and one potential trap in most home insurance policies is no coverage is offered to a home that is left unoccupied for more than 30 days.
The logic is fairly straightforward since an empty property is more likely to attract burglars and vandals which means there is an increased risk to an insurance company.
However, there are specific policies to cover for leaving a home empty from specialist insurers.
Why do I need unoccupied property-insurance cover?
Many owners have good reasons for leaving a home empty –
- The owner may have moved into long-term care
- The owner has died and the home is part of an estate in probate
- The owners have moved out
- The owners are going on a long trip overseas
- The house is under refurbishment
Unoccupied insurance can also cover buy to let or holiday homes that are standing empty between tenants.
What types of property are covered by unoccupied insurance cover?
Essentially, there are two types of unoccupied insurance cover – one for your home and another for property where you do not live.
You will need to check the small print of your home insurance policy to see if the cover is given and source an insurance firm willing to take you on if not.
For unoccupied properties that are not your main residence, there is a range of factors which will be taken into account. As mentioned previously, the reason for a property being unoccupied will be vital in determining the risk. The insurer will want to know about the probate situation, whether the home is being sold – whatever the reason you will need specialist advice.