Who insures an unoccupied house? Any ideas?

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Posted: Sun Jul 15, 2007 1:23 pm

We're looking for a company that'll insure my wife's grandmother's house while it's on the market to be sold. The problem we're having is that most places will only insure an occupied property. Does anyone have any idea who would insure an unoccupied property for the duration of it's being on the market? Any advice greatfully received as it's driving us nuts right now.

Baiting Guru Joined: 08 Jul 2004 Posts: 11857 Location: UK

Loads on Google if you search for unoccupied home insurance, for example:

http://www.blackfriarsgroup.com/house_unoccupied.htm

Quote:

This product offers unoccupied home insurance and unoccupied home insurance. Unlike other home insurance policies there is no requirement under this contract for the property to be occupied on an occasional basis.........

Posted: Sun Jul 15, 2007 1:50 pm

It's a pretty common need, between the death of someone and their estate being sorted out, to insure their house and other property. If that is the situation, the executors of the estate are obliged to take steps to safeguard the property. A local solicitor specialising in wills and estates should know if you get no joy from SP's suggestion.

Posted: Sun Jul 15, 2007 4:21 pm

This is one of those situations where you might do best to go to an insurance broker, rather than phoning the big companies. The big companies only want mainstream business - you probably need a specialist. Call three brokers and get uotes, then take the cheapest.

The insurer will be concerned by the fact that the property is unoccupied, ie, undefended. If there are any mitigating factors that will put their minds at ese, you need to emphasise these. For example, is there a burglar alarm?, are neighbours keeping an eye on it?, do you visit it regularly?

Another thing - make sure that you are clear what sort of refund you will get if the house is sold before the policy expires.

Posted: Sun Jul 15, 2007 8:09 pm

Zen wrote:

The insurer will be concerned by the fact that the property is unoccupied, ie, undefended.

The insurance company will compensate for this based on raising the rate.

Here is a google search for unoccupied home insurance in the US... good luck!

http://www.google.com/search?hl=en&q=insure+unoccupied+home+united+states&btnG=Google+Search

Posted: Sun Jul 15, 2007 9:08 pm

A good reminder to check your policy document or call your insurance company before going away on an extended holiday or the like. Some policies will not cover you if the house is unoccupied for 'x' weeks even if it is a permanent residence.

Nothing worse then going away for a 3 month holiday, having all your stuff stolen, and the insurance company saying you were not covered at the time of the event.

Posted: Sun Jul 15, 2007 11:40 pm

An insurer you already have a relationship with may be able to help - either the company who insured the property prior to it becoming unoccupied or perhaps the company that insures your own property.

They are likely to impose a higher premium and/or a higher policy excess and/or reduced level of cover but will sometimes offer better terms than the unoccupied property specilialists.

Posted: Mon Jul 16, 2007 3:06 pm

Thanks folks. All the info has been passed on to my MIL, and hopefully she can get it sorted now.

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