Insuring An Empty Property
Written on January 20, 2012 – 1:28 pm | by admin
There are quite a few reasons as to why a certain property would be left vacant and empty for an extended period of time. Indeed, the owners may have another home somewhere else and they might split their time between the two on a regular basis. Or, if you are a landlord, then you might be unable to find any suitable tenants or you may want to give the property up and it has been on the market for quite some time. That all being said, when it comes to home insurance then you would be surprised at how the rules change for empty homes.
Basically, your standard home insurance will not cover you if the property has been left unoccupied for an extended period of time. This is because vacant or empty properties (even if it is a temporary measure) are far more susceptible to be broken into or damage or vandalised etc… hence why insurance companies do not like to include the vacant property clause as standard in any home insurance policy. However if you are looking for a Property Quote Direct then it is not impossible to get insurance for an empty home.
Most insurers will offer and accept policies that are designed specifically for use over a vacant building or house however you will be required to pay extra for them.However, you can help to reduce the cost of the premium by installing things like time initiated lights that come on at certain times of the day to give the feel that someone is actually in the property itself. These may seem like a quite small addition and a small expense as well but security measures like these can go a long way to decreasing your premium when it comes to insuring and securing a vacant building.