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Unoccupied buildings insurance - recommendations?
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LB1985
Posts: 427 Forumite
We are hopefully going to be exchanging contracts to buy a property that is currently vacant. Clearly we need to have buildings insurance in place from the point of exchange (for up to four weeks, until completion when we move in), but the choice in providers for an unoccupied property seems quite limited. Does anybody have any recommendations?
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Its very expensive, but if you find a policy thats upto 28 days empty be better. We used a broker called magnet for empty when sellingDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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4 weeks is nothing.
Different insurers define 'unoccupied' in different ways. 30 days. 45 days. 60s are all common.
So should be easy to by a standard policy so long as you read the small print.0 -
We are hopefully going to be exchanging contracts to buy a property that is currently vacant. Clearly we need to have buildings insurance in place from the point of exchange (for up to four weeks, until completion when we move in), but the choice in providers for an unoccupied property seems quite limited. Does anybody have any recommendations?
Have you tried your current insurer? Mine (Saga) is covering both properties until the sale of my current/previous property completes.(Nearly) dunroving0 -
Have you tried your current insurer? Mine (Saga) is covering both properties until the sale of my current/previous property completes.
This for us too, our provider, legal and general, provide building cover only for our new property between exchange and completion. I think the lady on the phone said the cover on the new property was free! Although it was a while ago I made that call and it is all a bit blurry.0 -
This for us too, our provider, legal and general, provide building cover only for our new property between exchange and completion. I think the lady on the phone said the cover on the new property was free! Although it was a while ago I made that call and it is all a bit blurry.
I'm with L&G as well, but their website states they do not cover unoccupied properties. I will try to call them again.
Thanks for all the other replies. Will try some of your recommendations. Prices quoted so far for a short term policy are more than an annual policy will be once we have moved in!0
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