Because vacant property insurance is a fairly specialised area of insurance, it is important for you to receive specialist insurance advice. There are many insurers that can help you to tailor a policy that adheres to your individual requirements. Whether your property is pending occupancy or sale, landlord insurance for your vacant property is easy to find.
Because of the higher level of risk attached to vacant properties, landlord insurance will probably be higher than usual. Your unoccupied home is considered to be at greater risk from:
- Fire damage
- Theft
- Vandalism, malicious damage or squatters
- Water damage
- Amassing damage as a result of something being untreated whilst unoccupied
Because of these risks, landlord insurance for vacant properties might cost more than standard cover. However, there are still many companies that can help, and often they design their policies around you and your needs.
If you are looking for landlord insurance for your vacant property, then you may want to consider the type of cover you want. If you are only looking to insure your property for a short period of time, then a temporary insurance policy may be a good idea. For example, if your resident(s) have had to move out so that you can make repairs, you may only need vacancy insurance for a little while. If the property is empty of furniture as well as tenants, you might only need buildings insurance.
Comparing a number of different quotes can help you to find the best deals. Use our free service to compare deals and apply online.