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Landlord / unoccupied property insurance
martin1959
Posts: 363 Forumite
Firstly I looked at both this and the insurance forum, and felt I would get better advice here.
I have a landlords policy on a property with tenants in, who will be moving out in the next month.
We have planning permission and building regs don already on the property, with a view to a builder starting a large extension in April which will take about 10 weeks, then we plan to move in. Alongside this we will be selling our current home and hope to tie the move in with completing on the sale of current home.
I would like to insure the property while it is empty and also when builders are working there for normal perils including fire, subsidence, and vandalism (in case anyone breaks in and rips out plumbing etc)
Insurance companies I have tried which specialise in unoccupied properties will only cover for fire and nothing else while building is going on at the site.
I have also noticed when checking my current landlord insurance that it states it does not cover properties that either have planning permission, or you are in the process of obtaining planning permission!!! WHY? I can almost understand not wanting to insure while a build is going on, but why not a property with planning permission that you may never actually use.
Has anyone on here any experience of insuring a property whilst unoccupied and work is being carried out?
Thanks
I have a landlords policy on a property with tenants in, who will be moving out in the next month.
We have planning permission and building regs don already on the property, with a view to a builder starting a large extension in April which will take about 10 weeks, then we plan to move in. Alongside this we will be selling our current home and hope to tie the move in with completing on the sale of current home.
I would like to insure the property while it is empty and also when builders are working there for normal perils including fire, subsidence, and vandalism (in case anyone breaks in and rips out plumbing etc)
Insurance companies I have tried which specialise in unoccupied properties will only cover for fire and nothing else while building is going on at the site.
I have also noticed when checking my current landlord insurance that it states it does not cover properties that either have planning permission, or you are in the process of obtaining planning permission!!! WHY? I can almost understand not wanting to insure while a build is going on, but why not a property with planning permission that you may never actually use.
Has anyone on here any experience of insuring a property whilst unoccupied and work is being carried out?
Thanks
20 plus years as a mortgage adviser for Halifax (have now retired), and I have pretty much seen it all....:D
0
Comments
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Have you phoned your current insurer and asked?
I spent a while getting quotes to cover my house while it was unoccupied and having an extension built - I only found very limited cover at a high price
Asked my current insurer and they said they would adjust my current policy to note the property is unoccupied and suspend some elements of the policy such as contents cover, vandalism etc... In my case this didn't affect my existing premium.0 -
No more thoughts?20 plus years as a mortgage adviser for Halifax (have now retired), and I have pretty much seen it all....:D0
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