My property is unoccupied, do I still need insurance?
It is quite normal for most homes to have some kind of insurance, usually standard buildings insurance which is something that, if your home is mortgaged, lenders often require. That said, if your home is unoccupied for longer than 45 days then you may not be covered.
You’re not legally required to have unoccupied home insurance if your property is vacant, but it is highly recommended if you want to insure against a comprehensive list of perils. Many things can happen to a property that if left alone could escalate into more serious issues that perhaps standard buildings insurance would not cover. When looking for unoccupied insurance you need to be sure that your requirements are met. Below is a short list of basic perils that you may want to consider, depending on where you live:
- Storms (including wind and hail)
- Smoke damage
- Volcanic activity
- Vehicle collisions
Other considerations that you may want to look for in unoccupied property insurance could be:
- Burglaries or break-ins
- Falling objects
- Freezing of the plumbing system
- Accidental water damage
Some insurance companies will even offer unoccupied insurance cover to properties which are undergoing structural refurbishment. Landlord Insurance Services is just such a company. Our scheme can cover full perils on properties undergoing minor refurbishment, as long as the contractors are on site. These schemes will even be offered at the same rates as occupied properties.