Cheap unoccupied property insurance

November 22, 2011

Landlords Insurance

As we are now heading into winter, it may be a time of year when your property sits unoccupied from time to time while you take the opportunity to refurbish it for the year ahead.  Depending upon how long it remains unoccupied, you may be advised to consider finding out more about cheap unoccupied property insurance.

What does this cover do?

Typical landlord house insurance recognises that your property may stand unoccupied from time to time while you are engaged in things such as changing tenants, refurbishing your property or simply redecorating it.  It might also be the case that you have decided to leave a property unoccupied until you return from your annual holidays etc.

A typical let property insurance policy may cover unoccupied properties for anywhere between 30 and 90 days with the actual number of days depending upon a number of factors – not the least of which is the policy you choose.

After that covered period has passed, should your property remain unoccupied, all or part of your insurance may become invalid.

The reason for that relates to an unfortunate truth of life that unoccupied property may typically be at higher risk of some categories of problem than a property that is occupied.

A fairly obvious example of this increased risk arises in areas such as burglary and vandalism, where the perpetrators may be far more inclined to strike if they believe a property is unoccupied than if they think to the contrary.

That is why insurers typically require that you take out unoccupied property insurance for properties that are going to stand empty for longer than the specified period covered, as standard, by the policy.

Understandable as searching for cheap unoccupied property insurance may be, try to keep in mind that what is cheap for another landlord may not prove to be cheap for you, so ensure that the policy offers you the cover you require rather than simply selecting it based upon its price alone.

Cheap unoccupied property insurance, assuming it is also suitable for your needs, may provide you with reassurance, confidence and peace of mind, in the event that circumstances force you to leave your property unoccupied for a prolonged period.

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