Unoccupied Property Insurance

Let’s face facts; there are many reasons why your property may be empty, whether you’ve recently inherited this from a parent (or grandparent) or this is a second home that you want to leverage as a way of securing rental income.

However, unoccupied properties can be costly to maintain over time, while they also remain vulnerable to any number of risks including fire, flood, theft and vandalism. With this in mind, investing in unoccupied insurance may offer a viable way to protect your home in the modern age.

The short answer is yes; so long as you own a home or investment property that’s likely to be vacant for a period of three months or more.

This is definitely key if you intend to rent out a second property as a holiday home, as this will most likely leave the property empty for considerable periods of time throughout the year.

Similarly, you may have inherited some real estate or have moved out of your home once it has been listed on the market, and in these instances securing house insurance for the unoccupied property can help to provide some much-needed asset protection.

Who sells personal guarantee insurance?

Personal guarantee insurance is sold by many types of businesses, brokers and insurers.

At Falcon Insurance, we provide specialised, tailored insurance which makes us an insurance broker worth talking to – particularly when it comes to personal guarantee insurance providers.

Our young, energetic and entrepreneurial team will take time to understand your unique requirements and provide the best possible personal guarantee insurance for you and your business.

This type of cover has significant personal impacts if it’s taken out at the wrong level or misunderstood. This is why it’s always better to work with a recognised, trusted insurance broker whenever you need to take out personal guarantee insurance.

How Do You Secure an Unoccupied House?

The good news is that you can access empty property insurance across a wide range of homes, so long as they’re completely vacant and likely to remain this way for a period of longer than three months.

Make no mistake; if you intend to leave your home vacant for less than three months, you may find that you’re already covered by your existing policy and therefore won’t need contents or building insurance for an unoccupied property.

When taking out empty property insurance, however, you’ll also need to take steps to secure your home and avoid the risk of voiding your coverage.

For example, specialist policies of this type will require you to ensure that all doors and windows are locked and secured, and any damage or theft that arises as a result of a door being left open could well render your unoccupied building insurance completely invalid.

This may sound like a relatively easy objective to achieve, but it’s important to understand the terms of any insurance coverage for unoccupied houses and adhere to these as closely as possible.