Unoccupied property buildings insurance

ohbilmey

Hello
A bit like Optimist below I need to get buildings insurance for an unoccupied property which belongs to me, but it's permanenty empty although I go every couple of weeks to check on things - it's about 40 miles away from where I live. It's on the market just now so not sure how long I would need insurance for - have been Googling for a while but don't have a clue about organising insurance - how much do I need to insure for (it's a 4 in a block flat), what companies are reputable, don't know what the walls and roof are made of which some seem to ask. Has anyone got any recommendations for companies that might be able to provide insurance? Current insurance runs out next month and was arranged by a relative who died last year, it was for over 50s but company agreed to transfer it to my name for the rest of the term for an additional premium on this occasion, but I think their premiums for under 50s are pretty expensive and I don't know if they will even reinsure it.

dacouch

Does the block of flats not have one building policy for the whole block ?

scousemanblue

Most companies will restrict cover to FIRE, AIRCRAFT, EXPLOSION and LIGHTNING cover when a building is unoccupied.

I would be surprised to find one which will give full cover.

ohbilmey

dacouch
I don't think so - I haven't lived there for many years and have never had anything to do with any of the insurance arrangements. The block used to have a factor but doesn't any more. I wonder how that works for blocks like this - as if something happened for example because of lightening then who out of the 4 families in the block would have to claim on their insurance - the one whose house got struck? Mmmm, am getting more confused now. I wonder if the estate agent dealing with the sale would know about that sort of thing.

huckster

ohbilmey wrote: »

dacouch
I don't think so - I haven't lived there for many years and have never had anything to do with any of the insurance arrangements. The block used to have a factor but doesn't any more. I wonder how that works for blocks like this - as if something happened for example because of lightening then who out of the 4 families in the block would have to claim on their insurance - the one whose house got struck? Mmmm, am getting more confused now. I wonder if the estate agent dealing with the sale would know about that sort of thing.

Using the word 'factor', you appear to be in Scotland. My understanding is that arrangements vary. It depends on the legal documents related to the flats. Some Insure together as a block, others you Insure them as individual flats.

You would be best to speak to a local broker and get some advice about this. It is easier this way, as you can get at what policy would suit you best, by fully discussing your requirements.