Is your unoccupied property covered by your home insurance?

Talk of the financial turndown is somewhat repetitive at the moment – every time you open the paper or watch the news headlines hit you. Some commentators believe we are talking ourselves into a more severe downturn than it should be however there is no escaping that the most noticeable area is housing, and more specifically, house sales.

We are fully aware of the conditions causing this and it is a fact that people cannot sell their property with some buildings sitting unoccupied awaiting sale or let. Unoccupied home insurance is a real nessesitity in these circumstances, as normal home insurance will only cover properties if they are permanently occupied leaving property owners with out cover.

Specialist unoccupied property insurance is available and should be obtained which covers you for standard insured perils, and if you are selling or renting the property furnished, some unoccupied property insurance policies can also provide contents cover.

If your property is going to be unoccupied for a long period then some unoccupied home insurance providers may also insist on a minimum level of security such as 5 lever mortise deadlocks to all entrance and patio doors plus key operated window locks on all accessible windows – this will vary by provider.

Unoccupied building insurance polices may also request alarm and exterior lighting depending on the sums insured. This may seem overly cautious if you do not already have these in place however if requested, these requirements are good and proven security measures and are a small cost compared to the consequences of your property being broken into.