Unnocuppied property insurance - can i pay month by month?

DippityDooDah

I am selling a property and it will be empty for about 2 months whilst the sale is going though. does anyone know if any insurance companies do a policy on a month by month basis? don't want to pay for 12 months if I don't need to...


thanks for your assistance


DDD
x

bigfreddiel

It's bl!!dy expensive. Is it currently occupied and insured?

If yes, does that insurance go on for more than the two months you need?

If yes, just leave it running and tell the insurance company the exact situation.

Cheers fj

G_M

Yes you can get monthly unoccupied policies - search for insurance brokers.But it costs!

You'd do better to get an annual policy but choose one with a minimal cancelation fee, and which will refund pro rata if you cancel early.

What do you mean by 'unoccupied'? If empty, no one living there, and no visits it's costly. If you visit and sleep there 1 ( or 3 whatever) night a week/month, it might be cheaper - again, you need to read precise conditions/use a broker.

You'll also find things like burglary excluded or with high excesses, and you may have to drain down the water, or guarantee to leave the heaing on. Always read the small print.

DippityDooDah

thanks, it is currently empty as we have just moved to a new house. we have accepted an offer on it, but don't have an entry date yet, shouldn't be more than a few months. I will have a look online. I found one that does a 3 month policy, the quote for 3 months was the same amount as our renewal for 12 months - the fact that it is unoccupied really pushes the price up.

dgtazzman

I'm abroad for 6 months a year, leaving my house empty for 3 months at a time. My home insurance policy is usually around 3 times normal market price because of this, so yes, the policies are out there, just expect to pay a premium for them...

teddysmum

You really do want a watertight policy ie one that specifically recognises that the property is empty..


A couple in the news, a few years ago, bought a house to do up and did sleep there some nights. While away one night , the house burned down and they were featured because of the battle they had for a payout.


The insurers said that random nights of occupation didn't count and that they would not have offered a policy (even to cover an empty property) if the full situation had been declared.


I think they made some kind of payment, but probably because of pressure /bad publicity from the media.

bigfreddiel

Empty or unoccupied houses are very costly to keep.

Insurance, rates, standing charges for the utilities.

Reckon on at least £300/month

Hermia

G_M wrote: »

You'd do better to get an annual policy but choose one with a minimal cancelation fee, and which will refund pro rata if you cancel early.

That is what I did and it was definitely the cheapest option at the time. I went with Swinton when I sold my mum's house after she died. She had house insurance with them so I essentially carried on the policy, but told them the house was unoccupied. It was more expensive than normal insurance, but not massively so. I think I had to agree to stay over once every 30 days and keep the heating on the frost setting or something like that.