Home Insurance Discussion

dacouch

I assume from your post that the builders have handed over the property to your friend, it's empty awaiting buyers and it is an investment eg they have built it with the sole intention of selling it.

£1000 a year for an unoccupied property is about the going rate for an unoccupied home with a sum insured of circa £320k.

The fact they live next door may help the case so its a good idea to communicate this when you get quotations. Their best bet would be to speak to a local broker and also the Insurer of their main home.

One thing to take into account when buying cover is what the charges will be when they cancel the policy when the property is sold. The costs can vary dramatically and could mean the cheapest quote could end up costing more in the long run than a slightly more expensive policy.

If they put tenants into the property (Some people in these situations use family members) they may be able to get cover for circa £540 for the year. If you go down this route you need to check whether the Insurer needs a tenancy agreement to be in place.

flossy_splodge

dacouch wrote: »

I assume from your post that the builders have handed over the property to your friend, No. not yet. Problems with builders so friend wants it covered in case anything happens and builder has not infact taken out insurance.it's empty awaiting buyers Yes and it is an investment eg they have built it with the sole intention of selling it.Yes

£1000 a year for an unoccupied property is about the going rate for an unoccupied home with a sum insured of circa £320k.Sum assured is about £500,000

The fact they live next door may help the case so its a good idea to communicate this when you get quotations. Thanks for this.Their best bet would be to speak to a local broker will get them to do this asap. and also the Insurer of their main home.Main home insurance apparently with Saga who say they don't insure unoccupied houses.

One thing to take into account when buying cover is what the charges will be when they cancel the policy when the property is sold. The costs can vary dramatically and could mean the cheapest quote could end up costing more in the long run than a slightly more expensive policy.Absolutely didn't know this so thanks a lot.

If they put tenants into the property (Some people in these situations use family members) they may be able to get cover for circa £540 for the year. If you go down this route you need to check whether the Insurer needs a tenancy agreement to be in place.

They can't really do this as it really is an empty shell apart from fixtures and fittings such as kitchen fitments and sanitary ware etc. Nothing else in it.

flossy_splodge

And now it seems that the cover at this exorbitant sum of money does not even cover accidental damage and specifically excludes contractor damage which is particularly what they need! Help!

dacouch

£1000 for £500k of cover for an unoccupied property is actually a very cheap premium.

These types of policies normally exclude damage caused by a contractor as the contractor should have Liability Insurance.

The chances are that the policy is also limited to FLEA Cover only which is Fire, Lightning, Explosion / Earthquake, Aircraft and Property Owners Liability

moomin_white

got a renewal letter a week ago from my insurers (Direct Line) saying they are going to renew my insurance automatically. The price has gone up £80 from last year. So i went online got a loads of quotes way cheaper, then phoned up Direct Line to say i didn't want to renew and they matched the lowest quote (which was 40% cheaper!) and gave me ID fraud cover for free!

Lausanne_2

Hi There, I wonder if anyone might be able to advise me.

I would like to change my home insurance provider to get a better deal, am I allowed to do this prior to the 12 months ending? We usually renew in March but i'd like to change now If I can.

I have seen the Aviva deal, free content insurance with buildings insurance, does anyone know if this is any good?

Many Thanks

k.enzo

If you are lost with all the insurance policies, I have found an interesting website News-Insurances. There are guides, tips and advice to help consumers choosing the right home insurance policies.

Shambler

Hi, I wonder if anyone else has had this issue?

I went to insure our house with Direct Line and they asked are there any rivers within 150 yards of the property.

When I said yes there was one 120 yards away they would not insure me, full stop!

It seems strange because on the enviromental flooding website the nearest the river has come to our property is...120 yards, i.e. it hasn't come any closer for as long as records exist.

Are any other insurers this picky? we ended up going to morethan because they didn't even ask about rivers.

deedee71

I followed MSE Martin's advice and spent last Saturday trawling all the comparison websites and the independents.

Finally got combined Buildings and Contents for £112....down from £300 (separately), from Directline. I'm so pleased :j.

Directline's original quote was for £65 but I set the excesses a bit lower. I'll now be insured for an additional £20k more contents than I was before too.

Just had to share....x

deanos

Shambler wrote: »

It seems strange because on the enviromental flooding website the nearest the river has come to our property is...120 yards, i.e. it hasn't come any closer for as long as records exist.
.

Yet

I presume as it could potentially they don't want to insure that risk