If your property – whether your home or a property you let – becomes empty, then it is important that you ensure you have the correct type of property insurance cover – i.e., Unoccupied property cover (also known as empty property insurance).
What does “empty” mean?
Buildings insurance for empty property typically becomes necessary when your property becomes officially unoccupied in the eyes of your insurer. This may be a question of degree. For example, if you pop out for a pint of milk, your house may be empty, but an insurer may not class that as being “unoccupied.” Likewise, having a two-week holiday is unlikely to meet their definition.
Instead, insurers may vary in their definitions of when a property becomes “empty,” but 30-45 consecutive days of being vacant may typically make a property “unoccupied”, depending on your insurer.
At this point, your standard buildings insurance may offer only restricted cover – or may even lapse – leaving your property vulnerable.
Why is unoccupied property insurance important?
Whether it is a buy to let property or your own home, empty properties may be particularly at risk from damage. For example, with no one there to notice on the same day that damage is being caused by a small leak that, left unchecked, brings the ceiling down, such damage cannot be dealt with as quickly as it might have been.
Another issue to consider is that you may not be the only person who has noticed that the property is empty. During this time, your property is at heightened risk of damage, theft, vandalism, or arson. Without the correct type of insurance, you could be left to cover significant costs yourself.
Unoccupied property insurance provides specialised cover for these risks, ensuring your property is protected even when no one is there to monitor it.
Examples of when a property may become empty
There could be any number of valid reasons as to why your property becomes empty. Some examples may include you:
- working away on business;
- living away from your home while it is being renovated;
- taking an extended holiday:
- having a probate property;
- being the owner of an investment property that is standing empty during refurbishment or because of a tenancy void;
- and so on.
And if your property is unoccupied, then empty property insurance can step in and replace the cover your current buildings insurance offered.
In fact, if you have a mortgage on your property, whether you are a landlord or owner-occupier, you typically may legally be obliged to have adequate buildings insurance on your property.
Check out our short video: Do I need a specialist unoccupied property insurance policy?
What does unoccupied property contents cover?
Product features and benefits can vary depending on the policy and the provider. Generally, however, unoccupied property insurance can cover:
- Buildings: Protects the structure of your property from risks such as fire, flood, and structural damage.
- Contents (optional): Covers belongings left in the property. This may be added to your policy or purchased separately.
- Liability: Offers protection if someone is injured on the property during its unoccupied period.
Additionally, some policies can be tailored for specific situations, such as properties undergoing renovations or those empty for extended periods.
Quick, practical tips for protecting your empty property
While insurance is essential, proactive steps can help reduce risks:
- Regular inspections: Arrange for someone to check the property frequently for issues like leaks or vandalism.
- Security upgrades: Install alarms, CCTV, or secure locks to deter burglars.
- Basic maintenance: Keep the property in good condition—set heating to prevent pipes freezing and remove any post or signs that the property is unoccupied.
- Inform neighbours: Let trusted neighbours know the property is empty so they can report any suspicious activity.
Our Guide to protecting your property goes in to this further.
Legal obligations and financial risks
As we mentioned before, for properties with a mortgage, it’s often a legal requirement to maintain adequate buildings insurance, whether occupied or not. Failure to do so could breach your mortgage terms and lead to penalties. Additionally, landlords should ensure compliance with any tenancy laws that may apply to vacant properties.
Do note that failure to notify your insurance provider that your property is empty could render your existing landlord insurance or owner-occupier buildings and contents insurance policy invalid. This means that in the event of claim, it will typically not be successful.
Finding empty property insurance
Unoccupied property insurance is a specialised product. At Cover4LetProperty, our unoccupied property insurance policies can cover residential empty homes, unoccupied commercial properties and homes that are undergoing renovations. So, please feel free to get a quote or call us today on 01702 606 301.
By ensuring your property is covered during unoccupied periods, you can safeguard your investment and gain invaluable peace of mind.
