House Insurance Comparison

It makes financial sense to protect your property even if it is standing empty at the moment. This is where unoccupied property insurance may be searched for.

Typically suitable for landlords who have an empty let; properties awaiting probate; people who work away from home for long periods of time; properties undergoing refurbishment; and other similar circumstances where a property is left standing vacant, an empty property insurance policy can give the peace of mind.

A typical unoccupied property insurance policy will provide protection against damage caused by storms; flooding; earthquake; lightning and fire damage, plus other unexpected hazards. If you did not have insurance to rely on you might be faced with some considerable expense if you had to payout to remedy situations yourself.

What perils are usually insured?

The events that are covered within an unoccupied property insurance policy may differ amongst one another. This is because policy features and benefits usually vary, with one hazard being automatically covered or available as an add-on with some insurers, while not being available at all with others. However, you might typically have protection including:

· damage caused to the property due to the result of collision by a vehicle;

· breakage or collapse of any television or radio aerials and satellite dishes on the property and their fittings;

· damage arriving from trees, lamp posts or telegraph poles that have fallen onto the property (unless these have been cut back or cut down on your premises);

· if the building is destroyed then the insurance may cover the removal of debris if the destruction was brought about due to one of the events insured;

· protecton for some legal costs (though do note there are varying levels of cover and some policies will not cover eviction of a tenant or recovery of outstanding rent).

It is also important to bear in mind that the insurance provider also typically adds in some exclusions and limitations to the policy and you need to check these in the small print. You typically have obligations to the insurer as the property owner, which will usually include the necessity to keep the building in a good state of repair at all times and carry out certain security measures. If you intend to alter the property in any way or add onto the property then it is essential that you inform the insurance provider.

Therefore, when considering any insurance policy always check the wording and the summary of protection, which the provider should typically make available.

In summary, an unoccupied property insurance policy can prove invaluable if you own an empty property, protecting your investment and often at a surprisingly affordable cost.