From renovations, to renting it out or even moving in yourself following some improvements, there are a number of things you can do with an empty property.
Empty homes present more of a risk than occupied homes. Without a homeowner or tenant present, an unoccupied property is at risk of theft and vandalism, fire or flood damage and damage caused by squatters.
There are a few different terms that you might use to describe a property as empty. The words “vacant” and “unoccupied” being two of them. However, when it comes to property insurance, the definition should be clear, as they actually mean different things.
In this guide to unoccupied home insurance, we explain why your standard home insurance policy may not cover an empty house, as well as scenarios in which insuring the property is a good idea.