Empty house insurance

Empty house insurance

Empty house insurance refers to cover of a property that is unoccupied/vacant for a specific length of time. A house is a valuable asset and even when uninhabited presents an investment that needs protecting.

Properties can be left vacant for a number of reasons, including:

• Awaiting probate (administering the estate after the loss of a loved one)
• Awaiting a sale
• Awaiting rental / re-occupation
• Awaiting refurbishment

Homes that are left unoccupied have a higher risk of theft and/or damage and as such, are often not covered under a standard home insurance policy and will necessitate the need for additional empty house insurance. Higher risk means more expensive premiums but also in this case, a more reduced cover. Much like third party insurance for cars, everyday risks brought on by human interaction may be lessened but not having anyone there to vigilantly safeguard the property, especially if it is left vacant for 30 days or more, could increase the risks of potential hazards or break-ins. Therefore, this type of additional insurance will typically cover an unoccupied home for third party damage such as theft and also fire, explosion, lightning and earthquakes. If the property remains fully furnished or needs any increased cover, you will need to check with your insurer to see if that option is available.