There may be times when your home or rental property is left vacant for an extended period. Perhaps you’re in between tenants, going on an extended holiday or you’ve inherited a property that’s in probate.
Whatever the reason, it might seem overkill to take out a 12-month Unoccupied House Insurance policy. Especially if your property is only likely to remain empty for a few months at a time. So what’s the answer?
It’s really quite simple: short-term Unoccupied House Insurance. At UKinsuranceNET, we offer policies spanning three, six and nine months (as well as traditional annual policies) to give you greater choice and flexibility.
The bottom line is that you have options. You don’t have to be tied down to a 12-month policy or, worse still, risk going without cover. Keep reading to find out more about our cost-effective, convenient short-term policies.
When might you need short-term Unoccupied House Insurance?
There are various scenarios when your property could be left unoccupied for longer than normal. For instance, maybe you’re planning to take a sabbatical and travel the world or perhaps you winter abroad every year.
Then there are practical instances that might render your property unoccupied, such as if you’re carrying out major renovations, selling your house, in between tenants, or have inherited a property in probate.
Whatever the reason, it’s important to note that standard homeowner’s insurance policies often exclude cover for unoccupied properties after a certain number of days. This is normally around 30-60 consecutive days.
If you fail to take out specialised insurance beyond this cut-off point, you could leave yourself exposed. Without adequate cover, you’ll have to pick up the bill for unforeseen events like vandalism, theft, or weather damage.
What are the benefits of short-term Unoccupied House Insurance?
The scenarios we mentioned above are precisely where short-term Unoccupied Property Insurance comes into its own. Here are just a few more benefits of investing in a short-term policy to mitigate any periodic gaps in cover:
1. Flexibility
Short-term Unoccupied House Insurance offers customisable options. Depending on your needs, we can provide policies that cover you for three, six or nine months. You simply choose the plan that best suits your needs.
2. Cost-effectiveness
Short-term Unoccupied House Insurance policies offer significant savings, especially for vacancies lasting a few months (think 3-month Unoccupied House Insurance). This makes them a budget-friendly solution.
3. Reassurance
During a period of vacancy, your home is more susceptible to certain risks. With a short-term policy in place, you can rest assured knowing your property is covered for unforeseen events, minimising stress and financial losses.
How much short-term Unoccupied House Insurance do I need?
As with any buildings insurance, your Unoccupied House Insurance cover should be based on the rebuild cost of your property, rather than its market value.
The rebuild, or reinstatement cost is typically lower than the sale price because the value of your home is based on wider factors, such as crime rates and school catchment area.
However, if your home is constructed from non-standard materials, is a listed building or has special architectural features, the rebuild cost may actually be more than the market value. If that’s the case, you may want to get a professional assessment from a chartered surveyor through the Royal Institution of Chartered Surveyors.
For standard brick properties, the Building Cost Information Service’s house rebuilding cost calculator provides a free and simple rough estimate of your property’s rebuild cost (a surveyor can also help).
Armed with these figures, you can ward off the likelihood of being underinsured or overinsured and paying over the odds.
UKinsuranceNET: Your short-term Unoccupied House Insurance broker
As leading Unoccupied Property Insurance brokers, UKinsuranceNET can be an invaluable ally when navigating the world of short-term insurance.
Not only do we have access to a wide range of insurers, allowing you to compare quotes and find the most competitive rates for your needs, but our experts can talk you through your options.
We understand that every situation is unique, which is why we offer flexible short-term policy options spanning various durations – 3 months, 6 months or 9 months – to best suit your needs.
So, no matter the reason for your period of unoccupancy, we can provide a tailored policy that is as cost-effective as it is convenient.
Short-term unoccupied house insurance offers a flexible and cost-effective way to protect your property while it’s vacant, providing peace of mind and financial security.
Don’t risk leaving your home vulnerable during periods of vacancy. Getting a quote and securing the right cover for you is simple and straightforward with UKinsuranceNET.
Get an instant online quote or speak with one of our experts on 01325 346328 to discuss your needs.
