Unoccupied Property Insurance

Unoccupied property insurance is insuring your home (by covering the buildings, contents or both) whilst there is no resident in the house itself. There are a few types of insurance that you can get for this circumstance ranging from insuring the property before a tenant moves in to insuring it as a property that you are going to renovate and then sell on.
Unoccupied Property Insurance

You may find that obtaining unoccupied property insurance is not straight forward and can be confusing as to what type of insurance you may need or what type of cover fits your requirements the best. Although unoccupied quite simply means the house is vacant or not lived in, there is actually a few different categories of unoccupied property that your home may fall into such as:

Unoccupied property that is to be let within 90 days

This is where you may have a house that is currently unoccupied but are already searching for tenants and they will be in the property within the first 90 days of the policy.

Unoccupied property that is to be let after 90 days

This is where you may have a house that is currently unoccupied but may need some work doing to it before it can be rented out so with this type of policy you don’t generally get a time limit of finding a tenant.

Unoccupied property that is to be sold

This is where you have an unoccupied property and you will either be renovating it to sell or it may already be on the market but you still want to insure it before the building is sold. With these policies it is important to be aware of cancellation charges as in most cases you will be paying for an annual policy and cancelling once the property is sold. This information is always made available before you purchase.

Unoccupied property that is to be owner occupied

You may have purchased a property that requires some work done to it prior to you moving in. Once the property becomes occupied, it is common for the insurer to allow the policy to continue to its annual renewal date when it will then be replaced by a traditional home buildings policy.
We deal with various insurers that can insure your vacant property under any of the circumstances but each one will come with its own terms and conditions about the property whilst it is unoccupied. Generally with unoccupied insurance you can get various levels of cover that will either cover just the basic cover or you can pay a higher premium to get a more comprehensive policy.

So if you have a house that is unoccupied and you want to insure it then you can get a quotation with a number of companies here that will be able to help you no matter what your requirements are.