Getting total unoccupied property insurance for your properties

Insurance focus: insurance for unoccupied properties

Insurance is, and will always be a grudge purchase because the insurance policy only has value to the consumer when something bad happens. It is therefore a catch 22 situation because lack of cover could be far more expensive.

Unoccupied property insurance is not the same as normal property insurance. In fact, many property insurance companies will not pay for a claim if a property has been unoccupied for a certain amount of time if the owner did not have unoccupied property insurance.

Unoccupied property insurance is far more expensive than normal property insurance, and often does not include the same comprehensive cover. As you may be paying far more with less cover, it will help to be proactive with your vacant property to save money and reduce the risk of incident.


Standard cover usually includes protection against fire, windstorm, smoke, hail or explosions. This means that your claim will pay out for your house as well as any other structures on the property such as a detached garage, shed or fence should the property have suffered damage due to these risks.

Some insurance companies will also pay for:

  • Reasonable repairs which need to be made to prevent any other further damage from occurring.
  • Debris removal.

Additional cover could be taken for:

  • 3rd party liability where individuals may be hurt on your property or where accidents on your property could cause damage to neighboring properties.
  • Builder’s risk where improvements, repairs or alterations, attached structures and limited theft are covered during periods of renovation.
  • Vandalism.
  • Personal property

It is therefore recommended that owners with a vacant property reassess their insurance needs to avoid disappointment. Here are some useful tips that will save you money:

Minimize the Risks:

If you have an empty standing property it is best that you make sure that all obvious risks are minimized. This could result in huge money savings on your insurance premiums as it will minimize the chance of having an incident which are not covered for.

Security: Have deadbolts on doors and locks fitted to windows as this will deter thieves and vandals, and is usually a prerequisite for any unoccupied property insurance policy. By having a burglar alarm installed you can reduce your insurance premiums, and at the same time increase the value of your property.

Make the property appear occupied by not having unopened mail piling up or using light timers. Periodic visits or inspections will increase the security and decrease the chances of theft or vandalism.

Getting the Best Cover for the Best Price

Unoccupied property insurance can be expensive but there are a few things that can be done to reduce the cost.

  • Opting for a higher claim excess will reduce the monthly premiums. Being proactive about security measures is a great way to get cheaper insurance and lower the chance of a claim.
  • Take basic cover for acts of god, fire and explosions. This is a good idea if the structure is empty and all other contents have been removed from the property.
  • Compare pricing: The Internet has made shopping for insurance quicker and more value added as a number of quotations can be compared almost instantly
  • Get occupants as quickly as possible: As mentioned before, any vacant property is costing more on insurance and with occupants you can change your insurance cover.

The most important aspect of insurance it to have the right protection cover for you property. Unoccupied property insurance is more expensive as there is more risk, but with proper planning and being proactive it is possible to save money and get the correct cover.