If you have purchased a derelict property, renovation property for sale or even a rural property that you are not currently living in you may wish to investigate some form of unoccupied property insurance. We all dread some form of accident happening such as floods, landslips, fire or vandalism and in most cases unoccupied house insurance can help insure your property against such events. There are, however, often restrictions by the large house insurance companies regarding their cover and your property. For example, they may insist the property must be sealed or locked which can be very difficult with a derelict property you have purchased for renovation.
Unoccupied Property Insurance Quotes
The golden rule when looking for a reasonable house insurance quote is to shop around. Do not settle for the first insurance quote you receive, instead go to at least six property insurance companies and ask each of them to prepare a quote for you. Don't be afraid to tell them you are actively shopping around and intend to give your business to the insurance company that provides the best cover at the most reasonable rate.
Another common mistake is only receiving house insurance quotes from larger insurance companies. If you own a derelict property, renovation property or a rural property that is currently unoccupied it may be your best option to deal with a local company in order to obtain the best possible cover. Remember some of the larger companies may be reluctant to insure a derelict property with no security measures so do everything you can to make your property as safe as possible.
Unoccupied Property Insurance - Safety Measures
After you purchase your property take every measure you can to make it as safe as possible. This will assist you greatly when shopping around for the best unoccupied property insurance quote. For example, fit doors if there are no doors on your property, make sure all doors and windows lock if possible. you can also disconnect any electricity supply from your unoccupied property as well as any gas, water and other services.
Summary For Insuring Unoccupied Properties
Derelict property or renovation properties can pose a problem if they are actually a ruin. There may be no doors to lock or no windows in the property if the walls are not standing. In this case look at the possiblility of erecting a temporary security fence around your property. As long as you have taken as many measures as reasonably possible the insurance company should look on your application favourably and provide you with adequate cover and unoccupied property insurance.