Unoccupied property insurance UK is very much popular in the United Kingdom. There are many people out there who seek unoccupied home insurance for their property. If you still are not aware about what unoccupied property insurance is all about, then let me tell you that unoccupied home insurance is taken by people who have a property, which they have to leave vacant for a period of time due to any reason.
People seek unoccupied property insurance, when a property is left unoccupied for any time period. As per the statistics, there are nearly 700,000 empty houses in the United Kingdom and they are vacant due to several reasons. Most of the times, these unoccupied properties are awaiting probate or sale. Sometimes, the owners move out in order to extend or refurbish their house. Some people leave their houses vacant, as they have to go into sickbay or for some long term care.
Why do you need an unoccupied property insurance UK?
No matter what the reason is behind you leaving your house empty, you must get unoccupied property insurance. This will insure your vacant house against untoward accidents that cannot be foreseen. For example, your house can get damaged by a fire or flood. Or, it can also be targeted by vandals or thieves. This is why you must get an unoccupied home insurance.
What about your standard house insurance?
You may think that why to take an unoccupied property insurance, when you already have house insurance done. However, this is a misconception. Most often, insurers do not cover a property that has been left empty for over 30 consecutive days, which is often referred to as the 30-day rule. This means that your existing home insurance policy is not adequate for your vacant house. Therefore, if you are thinking to place a claim on your regular insurance, then you will possibly not get paid.
Know the risks involved
Most of the unoccupied home insurance policies cover a wide variety of risks, such as storm, flood, theft, and fire. Moreover, the property owner’s liability can also be covered in unoccupied property insurance policies. For instance, a slate blew off from the roof of your house and damaged the conservatory of your neighbor.
However, it is important that you must check all the exclusions in an unoccupied home insurance policy. For instance, some property insurance companies do not insure a vacant house against malicious damage. Moreover, there can also be limitations on any damage that is caused by water escape or theft of contents. Therefore, checking for exclusions is advised for applicants of unoccupied property insurance UK.
Take help from a specialist
Although, your current house insurance provider would agree to insure your house while it is unoccupied, it would most certainly limit the coverage. Therefore, it is wise to take help from a specialist of contents and building insurance, in case you are leaving your property vacant for any time length. Here, you will require an unoccupied property insurance UK.
Opt for a short term cover
Normal policies require you to insure a vacant property for the regular 12 months. However, you do not have to do this. There are many insurance providers that offer covers for 12, nine, six, or even three months, with an extension option if required. Therefore, you should rather opt for a short term cover, say for like three months policy coverage as opposed to a 12 months coverage. This will protect your house till it is sold off. However, if it is not sold within the expected time frame, then you can just extend the coverage plan as necessary.
Now that you know all about unoccupied property insurance UK, you can go ahead and buy one to secure your empty house.