PROPERTY 118, the landlord tax consultation specialist, is offering its readers a free landlord insurance…
WHETHER it is for renovations, an extended holiday, a let property awaiting tenants or going through probate, The Home Insurer can help you get the Empty Home Insurance you need.
This is an insurance product that is tailor made to protect your property when it is unoccupied. Most standard policies give you 30-days before they reduce cover to fire, lightning, earthquake and aircraft cover when unoccupied. Our policies can give you full cover when they are empty.
What is full cover Empty Property Insurance?
It offers almost exactly the same full cover as a standard occupied house policy. That means flood, subsidence, theft, escape of water, malicious damage and all normal perils. We can offer lower levels of cover that exclude escape of water or more. But in our opinion those policies cost savings are not worth it. If you need to make a claim and the insurance doesn’t cover it then the policy is worthless.
Are there any terms you need to be aware of?
Our unoccupied property insurance policies normally require you or your agent to visit the property every seven days and to make a record of when you do. This is to catch any problems early and reduce any claim costs.
You also need to keep your central heating on at 15 degrees Celsius all year round to protect against frost damage. Do this and your excess for and escape of water claim is £2500.
Drain down your water tanks and switch off the mains water and your’ excess for escape of water reduces to £500.
Can you cancel these policies and get a refund?
If you cancel an Empty Property Insurance policy you will usually get a pro-rata rebate less a £35 fee. If you update and keep the policy with The Home Insurer, then the £35 fee will be waived. These are flexible insurance policies.
Is Empty Home Insurance Expensive?
Not in our opinion. Prices start from around £150 for 12-months cover with a pro rata refund on cancellation. Short term policies for 3, 6 or 9 months are available. Whilst cheaper up front, they normally offer no refund and lower levels of cover.
What to do next
Get in touch with us on 01832-735388, tell us what your insurance requirements are and normally we can tailor a policy you can trust to cover your property and financial asset. Alternatively, visit our website and fill in the information on the quote form and we will be in touch with our best terms or a few more questions if needed.