Owning a property can come with unique challenges, particularly when it insurance. Whether you're a property owner with an empty home, delving into your insurance policy, or facing the daunting task of an insurance claim, understanding how unoccupied properties affect this is crucial.
In the UK, most standard home insurance policies cover an empty home for a period of 30 days with some extending to 60. However, this duration can vary, and it's essential to check your policy's specifics to protect your property adequately.
Unoccupied properties are susceptible to various risks. If regular maintenance is not partaken this can lead to water damage (Escape of Water, Flood damage) or issues with heating systems (frozen pipes). Additionally, empty properties often attract criminal damage, increasing the risk of damage.
Vacant buildings are potential hazards due to factors like deteriorating structures and the increased likelihood of squatters. For commercial properties, these risks can escalate, affecting insurance cover.
Specialist unoccupied property insurance becomes necessary when a property is left empty for an extended period. Standard home insurance may not suffice, leaving property owners vulnerable.
Yes, insuring an unoccupied property is typically more expensive due to the heightened risks involved. However, measures to minimise the risk, such as securing the property and regular checks, can help reduce premiums.
It is possible to insure a house that is not occupied. Insurance providers offer policies specifically designed for vacant properties to address the unique challenges they pose.
An unoccupied house, for insurance purposes, generally refers to a property left empty for over 30-60 days. The definition can vary among insurers, so it's important to confirm with your provider.
When facing the complexities of insuring an unoccupied property or making a claim, expertise is invaluable. Hiring a loss assessor, such as Oakleafe, can significantly benefit property owners. They provide expert guidance through the claims process, ensuring you receive fair treatment from insurers and helping to reduce the risk and stress involved.
Are you a landlord looking to safeguard your rental property and investment? Landlord insurance is a vital tool that provides protection and peace of mind against various risks and liabilities associated with renting out a property. In this guide, we'll explore everything you need to know about landlord insurance in the UK, including what it […]
Are you taking the exciting step of purchasing your first home? Congratulations! As you embark on this journey, one crucial aspect to consider is securing the right home insurance policy. Navigating the world of home insurance can seem daunting, but fret not – we've compiled a comprehensive guide tailored specifically for first-time buyers like you. […]
As spring approaches, the days become brighter and the weather warms. We look at ways to help prepare your home for the sunny season, ensuring it is in tip-top condition and helping to prevent winter wear and tear or spring showers causing issues that could result in you needing to make a Domestic Insurance Claim. […]
If you have been declined whilst trying to claim on your domestic or commercial insurance, we can help. We can also help with professional services, for example, Brokers, VAR Valuations and Managing Agents.
