Absent homeowners and landlords urged to ensure their properties are covered
A specialist insurer is urging homeowners and landlords to check that their buildings insurance covers their property when it is unoccupied for a number of days. Richard Burgess, Director at Cover4LetProperty, says: “Many property owners - both owner occupiers and landlords – are unaware that their existing buildings insurance will have a clause relating to un-occupancy.
“In cases where the owner-occupier or, in the case of a rented property, the tenant, has an extended absence from their property for a number of consecutive days, their existing buildings insurance may become invalid”.
Mr. Burgess explains that all buildings insurance policies have a clause that excludes – or severely limits – cover for a property when no-one is living there for a number of ongoing days. This is usually 30 or 45 days for a residential property and will depend on the individual provider.
He says: “Note that when an insurer refers to a property as being “unoccupied” it means that no-one is living there - and not that the property is empty of furnishings and fittings.
“Policyholders should also be aware that whether covered under their existing policy or a new unoccupied property insurance policy, they will have obligations that need to be met in order to keep the cover valid”. These typically include:
- regular, logged visits made to the property (sight of these logs will be required in the event of a claim);
- things such as setting the heating to a certain temperature in order to avoid frozen pipes in the winter, and/or draining down the water system etc.
“While there may be some very rare exceptions to the 30 or 45 consecutive day rule, in most cases, property owners will need to invest in additional protection for this period of un-occupancy” says Mr. Burgess.
He adds: “Landlords and homeowners alike should check the un-occupancy clause within any buildings insurance they have, or speak to their insurer so they fully understand when additional, unoccupied cover, will be needed.”
Ends
Contact:
Richard Burgess, MCIM, Director at Cover4LetProperty, telephone: 0845 863 9558 or email: richardb@alanblunden.co.uk
About Cover4LetProperty:
With roots going back to 1946, our clients can benefit from 68 years’ of experience in the landlord insurance marketplace. We are award-winning independent intermediaries and act on behalf of our clients in arranging their buy to let and unoccupied property insurances. Our service includes advising clients on their insurance needs, arranging insurance cover with insurers to meet those requirements and help with any ongoing changes that have to be made to their landlords insurance policies.
In 2011 we were proud to beat off some stiff competition for the award for Best Landlord Insurer in the prestigious The Money Awards.
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