Unoccupied Property Insurance

LeadHead_2

Hello all,

I'm hoping you can help. Due to a family bereavement my parents have inherited a house that is now unoccupied.

As the property is now unoccupied the current house insurance have cancelled the policy.

Can you suggest things to be aware of when searching for unoccupied insurance?

Can anyone suggest a good company to get a quote from?

Many thanks in advance.

Hoof_Hearted

In my limited experience, it is quite expensive and they don't cover much. Google it and you will find a number of companies or perhaps, in this case, you may be better off going to a broker.

withabix

Call an insurance broker. They will sort you out.

ceegee

Same situation here re empty house, following my Mum having passed away.

I am very surprised though, that the insurers cancelled the insurance just like that. Were they instructed to do so? If so, by whom?

My Mum's insurers agreed to continue the insurance whilst the house was being sold. This took over a year, but as long as we took sensible precautions re things like pipes/tanks in the freezing weather (think last Winter!) then basically the insurance stayed in place. There were a few exclusions though, but the main risks like fire and flood were still covered.

As a matter of interest, when we renewed the insurance, I did a bit of research and only found one company who would insure the empty house as new business. The premium they wanted was more than double that of the existing insurers and the terms and conditions were onerous (think a full weekly inspection and written report of the whole condition of the house for their inspection).

If I were you, I would go back to the previous insurers of the house and ask them to re-instate the cover.

LeadHead_2

Thanks for the fast responses all.

The insurance company (SAGA) cancelled the policy as the house was not going to be up for sale. I believe they would of continued to insure the property if it were going to be put on sale.

My parents are planning to redesign the inside of the house to how they want it and still live at there current address whilst it's being worked on.

Are most brokers like one another or do particular ones stand out? We have until Thursday to sort this as this is when the current policy expires.

G_M

You need to check the definition used for 'unoccupied'.

Different insurers use different criteria.

30 consecutive days; 45 days; 60 days etc

Additionally, some insurers will say if the property is visited, say, 3 times a week to check security, heating leaks etc) and/or slept in once a week, then it is not 'unoccupied.

Might even be worth calling Saga to discuss what they would require to re-instate the policy.

LeadHead_2

The house is visited at least 5 times a week to check for mail and general condition of the house. It's not left unkept and the central heating is left on a low heat to ensure it doesn't burst any pipes.

I think I need to discuss with a broker and discuss the terms for unoccupied. - thanks.

ceegee

LeadHead wrote: »

My parents are planning to redesign the inside of the house to how they want it and still live at there current address whilst it's being worked on.

Are most brokers like one another or do particular ones stand out? We have until Thursday to sort this as this is when the current policy expires.

Two ideas...

1) get your parents to ask their own home insurers if they will cover it. If not.....

2) No, not all brokers are the same. One major difference is that some are Lloyds brokers and some are not. If they are Lloyds brokers, then they have access to the Lloyds market in London. (FWIW , I used to work for a Lloyds brokerage). The Lloyds market is a different kettle of fish from a "normal" insurance company, and can often be better for non-standard risks.


Existing insurers, as in 1) above are generally the best place to start, though.

Firebird

I used a broker. I asked for a quote online and they called the next day with a quote then it was all done over the phone. Their conditions were to check the property once a month and have the heating system drained so no risk of frozen pipes.
I was insuring property for a relative who had been in hospital over 30 days so own policy was no use. I have since had to alter the policy and change address etc after my relative passed away. The broker was very accommodating and yet again contact by email then posted new documents.