Why you may need an unoccupied property insurance quote

Posted: 3rd Jun 2014

As a landlord, there may be times when your buy to let property may be left standing empty. Understanding the implications of this on your buy to let home insurance is important, as you may find that you need an unoccupied property insurance quote:

  • for insurance purposes, your property may be designated as being unoccupied if it is empty for a period of 30 days or more;
  • you may be carrying out renovations or refurbishment of the property and even if there are builders or workmen around during the day, if there is no one actually living in the property, then it is still categorised as being empty and vacant home insurance may be needed:
  • you may be having trouble finding new tenants or just waiting for them to move in;
  • if you are an owner occupier with traditional home buildings and contents insurance, you may find that the same conditions apply when it comes to empty property, so you also may benefit from getting an unoccupied property insurance quote;
  • you could, for example, be working away from home on an extended business trip;
  • perhaps you are planning the holiday of a lifetime, which means that you will be away for more than 30 days;
  • your property may be empty pending the outcome of a divorce or it may be stuck in lengthy probate proceedings;
  • you and your partner may be setting up home together and you may be in the process of selling one of your properties;
  • this additional vacant home insurance for owner occupier and buy to let properties, is typically required because the risks that face an empty property are different to those that potentially exist when the property is inhabited;
  • small problems left unnoticed may get worse over time and cause greater damage, which may be more costly to repair;
  • thieves and vandals may very quickly spot a house which is unoccupied over a period of time and may be more likely to strike;
  • whatever the reason for your property being unoccupied, you may wish to note that your unoccupied property insurance quote may have terms and conditions that may be different to those attached to your general buy to let property insurance;
  • these may require, for example, that you arrange to have your property inspected on a regular basis and carry out ongoing maintenance, as well as attending promptly to necessary repairs;
  • you may also be required to keep a log of these visits;
  • from a landlord’s point of view, keeping the garden tidy and free from rubbish and litter may not only make your property look more attractive to potential tenants, it may also help to make the property looked lived in and so deter thieves and vandals.

If you are unsure about your requirements for your own situation, we will be only too happy to provide you with an unoccupied property insurance quote to supplement your existing buy to let insurance.