Insurance for empty buildings is a specialised area of the building insurance market, most standard home insurance underwriters are not prepared to accept the risks involved. Unoccupied buildings are often unattractive to insurers in view of the increased chances of theft and malicious damage and without adequate heating in place the threat of burst pipes increases as well.
Empty properties fall in to several classes, some are domestic dwelling houses, on the market awaiting sale, often unoccupied property insurance is only required for a short period of time, short term insurance is not particularly attractive to insurers because of the relatively small premiums involved in return for the cover offered. Mostly though, properties are unoccupied whilst undergoing repair or renovation and cover is available with the perils offered, ranging from insurer to insurer.
Many But to Let buildings are unoccupied when first acquired. Often letting agents will not place properties on their books until such time as they are ready for habitation. Many need cosmetic works, such as new bathrooms and kitchens ect.
When selecting an insurer for unoccupied building insurance is important to disclose all material facts, always tell them exactly why the property is unoccupied and provide them with an exact schedule of any works you intend to carry out at the property.
With unoccupied property insurance, it is absolutely essential that you study the "key facts" document and policy wording. This type of cover will almost certainly come with a range of restrictions and conditions. Typical restriction on an unoccupied building include the following;
-Insect the property on a regular basis - usually every 14 days
-You will have to keep the property tidy and prevent any build up of post or paper - some insurance companies will require you to seal up the letter box.
-You will have to keep the building free from wastes materials
-Drain down all the water systems and turn off your stop cock
-Switch off all electrics
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