Terms such as vacant and unoccupied property insurance can cause some confusion to those who have never come into contact with them before, but there are some important differences that should be noted. Crucially, if you don’t choose the right cover for your property (and more specifically for how you use that property) you may find that in the event of a claim, you are not covered.
Unoccupied home insurance policies were designed for homeowners who leave their homes unattended for periods of thirty days or longer. Many people whose lifestyle sees them away for such periods don’t realise that their standard home insurance does not cover them while they are away.
An unoccupied home is very different to a vacant home, which has no one living in it, and is therefore much more likely to be at risk from burglars or even squatters. Policies for this cover are sometimes difficult to obtain from mainstream home insurers who like to battle it out for the best occupied risks, such as property in good areas with low crime rates. You will therefore need to seek experienced specialists offering unoccupied property insurance. Policy cover is understandably more restrictive as this reflects the higher risk associated with covering these types of property, but should cover the major perils such as fire, flood and explosion to name a few. If you are having renovation work undertaken then do expect cover to be even more restive, but once again this is understandable due to the higher risk of claims. Having cover is the crucial aspect of purchasing this type of policy. It may slightly more expensive than standard home cover, but as with any insurance policy, in the unfortunate circumstances when you need to call upon the policy, the benefits should outweigh the costs.
Choosing the right policy is very important, so read through the terms and conditions of any policy you are considering before you take it out. For specialist unoccupied home insurance contact click4quote.com