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. The property may be derelict or boarded up, or could be ready to let out or sell. Although unoccupied quite simply means the house is empty or not tenanted, there is actually a few different categories of vacant property that your home may fall into such as:

Unoccupied property that is to be let to tenants

This is where you have a house that is currently empty but intend on letting it to a tenant. If you have a lease agreement already in place and the tenant is due to move in within the next few weeks then we would recommend taking out a landlord insurance for empty properties policy instead. If you are still seeking tenants or have some work that needs doing to it before it can be rented out, then an unoccupied property insurance is what you need.

Unoccupied property that is to be sold

If you have an unoccupied property that is currently on the market or you have the intention of renovating it before putting it up for sale, then having this type of policy is vital. Whilst short-term policies may be available, it is important to be aware of cancellation charges and in some cases an annual policy may be best with the option of cancelling once the property is sold.

Unoccupied property that is undergoing works

Some properties may require work which is best carried out while the property is vacant. This work may be planned for the near future or already in progress and may be anything from minor decorating and renovation, up to major structural alteration work. Once the work is finished and the property becomes occupied, we can usually change this to a standard buildings policy.

Unoccupied property that is to be owner-occupied

You may have purchased a second home 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 insurance 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.