It may require a little bit more of a focused search, but if you're looking for vacant property home insurance you should still be able to find a number of different home insurance quotes.
The reason why a standard policy will not usually be adequate for a vacant property is that most home insurance policies do not continue to provide cover to houses that have been vacant for 30 days or more.
There are three fairly common situations in which these standard policies will not provide the cover people need:
- If a vacant property is waiting to be sold
- If there is extensive building or maintenance work being carried out on property
- The property is going through the probate process
- It is a second home
The reasons why insurance companies may be more cautious about extending home insurance to vacant properties are:
- Flood, storm or subsidence damage may not be noticed until it is substantial
- Vacant properties may be more prone to vandalism or break-ins
- Lack of regular maintenance can lead to faulty pipes and fixtures, as well as problems such as damp
There are measures that you can take to potentially lower the premiums involved with home insurance for your vacant property:
- Make sure that the property is fitted with strong locks
- Make sure a working security system is installed
- Insure that the property is regularly checked