Getting home insurance for fathers uninhabited property

THE_DOCTOR_4

My Fathers Bungalow is currently empty (he moved out to a Care Home), and I (his son), am struggling to get the Home Insurance renewed as the property is empty now, and I am not the Property owner (although am Power of Attorney.)
The existing Insurer has more than doubled their renewal quotation for the new Home Insurance now due, (when being honest, I advised them that the property was now empty and I was preparing it for sale!)

I can't get a new Quotation (from 'GO COMPARE' etc) as these sites online forms require you to be a Tennant or Housing Association (or similar), in order to apply for a Home Insurance quotation.
There's no facility in their forms for Power of Attorneys!
You can't seem to beable to get any on line new Home insurance quotes if like me, you don't own the property, and the property is currently empty.

Does anyone know a Home Insurance company who might give me a decent quotation for my fathers home, or a Comparison site that I could use for quotations that caters for people in my situation?

dogbot

Specialists like Towergate Household Underwiritng and similar brokers may be able to help - google. You will certainly not be able to use price comparison websites - they are for the "standard" risks. Have you spoken with the current insurer? Who is it? Some will reduce the number of perils insured to provide you with a more reasonable price, though you will still need to take precautions.

The problem is that an unoccupied properties are at extreamly high risk, especially at this time of year. Storm damage, malicious damage and escape of water are the most likley and frequent but also fire claims (accidental and arson). You will need to keep the property heated to a temperature prescribed by the insurer (probably 10-15 degrees c) to reduce the chance of escape of water claims, and need to ensure someone visits regularly and frequently.

I would make sure the property is secure as possible and have a neighbour checking daily if you can. Also and more importantly go round and check all the pipework you can for signs of wear, leaks or weak points. Then go to hombase/b&q and get pipe lagging (it's on offer at the moment!) and lag up any pipes and water tanks that currently bare (and you can get to). Those in the loft/colder areas are most vulnerable, particularly if the loft has been insulated but under the pipes. Switch off any electical items at the plug other than the boiler/heating systems and any alarm of course.

THE_DOCTOR_4

Many thanks Dogbot for your reply! Appreciated.

I am calling Towergate tomorrow (incidently, 'GOCOMPARE' whom I contacted also advise talking to Towergate.)
I have spoken already to my current Insurer, whom I believe may place this type of uninhabited Home insurance with a company called 'Prestige?' (I have no other details.)
As I said, they basically doubled the renewal premium, hence me now looking for better quotations!

I visit the Bungalow every day (am there redecorating it for sale), and do put on the heating and check the property each time I'm there (as you have advised.)

Speaking to my Bank today, they believed that they could get Home Insurance for me, because they would class the property as being (to a degree) 'occupied', but after making a call to their Insurance people, the Bank had to decline providing me with a quotation as their Insurers told them that my visits would not after all be classed as 'occupied.' They advised me to get a Broker who might then arrange a suitable insurance. (as per your advice!)

Many thanks again for your help on this. Your time is appreciated.

Mikeyorks

You're in the same position, I'm afraid, as someone dealing with Probate. And will get very restricted cover + much enhanced premiums.

Occasionally the existing insurer will be the best option. But if you look at the companies that offer cover on holiday homes (frequently empty over the winter period) .... you might get full cover ... at a cost.

But you're likely to finish with reduced cover (no storm damage / property heated to 15C or water systems drained etc / visited frequently) and at least doubled premiums.

huckster

If you no longer have to pay the council tax as the property is unoccupied, you can use some of the money saved from this towards a policy that is suited to the risk.

A broker like Towergate should be able to arrange cover, but also check with the Insurers of the your own main residence. Sometimes, Insurers will cover another less attractive risk, if you have other Insurances with them. You could also try AgeUK(age concern) to see if their Insurers Ageas (nee' Fortis) can arrange cover in this circumstance.

Take advice from local estate agents regarding how quickly you can sell. My experience with a relatives property a couple of years ago, is that you will only get a quick sale from a cash buyer, who will try with an offer 20% or more off the sale price. But if you are prepared to wait, particulary for a bungalow which is attractive to older buyers, you might catch someone who is looking to buy such a property in the Spring. Take advice about the financial position re using any savings to renovate the house, as some buyers will want a house they can move straight into without having to renovate. If you struggle to sell, if you have renovated, it might make it easier to let out. The problem with having any savings above £20k is that you have to pay for the full care home fees and below £20k you have to pay a percentage after liasing with the local authority about financial position. If there is equity in property you have to sell to help with the fees. This rules may have changed, but you need to make sure you are aware exactly what the score is, so you can make the right decisions at the right time.

noelphobic

huckster wrote: »

The problem with having any savings above £20k is that you have to pay for the full care home fees and below £20k you have to pay a percentage after liasing with the local authority about financial position. If there is equity in property you have to sell to help with the fees. This rules may have changed, but you need to make sure you are aware exactly what the score is, so you can make the right decisions at the right time.

The figure is now around 23k above which you are charged the full costs of fees and below that it is on a sliding scale down to around 14k. You DON'T have to sell the property to pay the fees. You can enter into a deferred payment agreement with the local authority. They place a legal charge on the property and this is repayable when the property is sold, which can be after the death of the owner in some cases.

You can also apply for NHS fully funded continuing care. It's hard to obtain this in most cases but it does cover the full cost of care or nursing home fees.

THE_DOCTOR_4

Many thanks indeed to all of you that replied and gave me excellent advice! Thankyou all for your time.

I tried Towergate as suggested, but unfortunately, their quotation (for my fathers property), was significantly higher than the increased renewal amount requested by my current insurer, so will renew again with the existing Insurance Broker. (who have given me full cover again, with no restrictions, so all in all, not too bad a result.)

The bungalow should be on the market within 3 weeks, after which (hopefully!) will sell reasonably quickly, then I should beable to get some refund back for any home 'insurance months' unused.

Many thanks again guys! Appreciated.