IF you have ever wondered why you might need Unoccupied Insurance then this short article is here to help. Don’t dismiss it as an obvious answer and you don’t need to read it, because in insurance terms there is no really easy answer and if you ever need to make a claim this advice could help you.
You will need Unoccupied Insurance if you leave your property empty for a certain period of time. That could be anything from five days to 30-days depending on the insurance policy you currently have.
The first thing to do is dig out your home insurance and read the small print where it relates to vacancy. Most home insurance policies will allow up to and including 30-days vacancy. After that your insurance will be invalid and not pay out in a claim. So if you are going to be absent for 31 days or more at any one time, then you will need to change your insurance to suit. Don’t bother trying to cheat the system and think no-one will know or you will get lucky. You will not. Insurance companies operate large, sophisticated CSI style fraud departments in order to seek out people who have broken the terms of the insurance and they will refuse any claim you make if out of terms.
Other people checking their home insurance will find that their policy may only allow five days or another small number of days vacancy before going out of terms. Some may not allow any vacancy at all. These sorts of policies are normally at the cheap and nasty end of the home insurance spectrum. Most will have been sourced from the big price comparison sites where competition to win the top spot and your business is so high that brokers and insurers will exclude almost anything to try and get the price down. If you have one of these policies then you have went a step too far and cut costs to the point of rendering your house insurance policy semi useless. We suggest you check out the other terms that may be excluded as well – subsidence and flooding spring to mind immediately.
So if for either of the reasons above you need Unoccupied Insurance then you can speak to your current provider and see how much extra they will charge you to add it to your current policy. You can expect healthy fees and increases in most cases and that means cancelling the policy, getting a rebate and starting a new 12-month Unoccupied Insurance policy may be the best option.
Visit The Property Insurer to access the best Unoccupied Insurers in the UK in one quick quote form and compare prices and policies. Our Unoccupied Insurance normally costs very similar to standard home insurance but comes with full cover for when you are away.