Unoccupied Buildings Insurance Explained
Whether you’re a house builder, developer or own multiple properties, you’ll likely hold standard home insurance cover to protect your assets. But these policies don’t usually cover properties when vacant for prolonged periods of time. That’s where Unoccupied Property Insurance comes in.
Unoccupied Property Insurance is a flexible policy that protects vacant properties such as empty rentals, new builds and holiday homes. It’s designed to cover you for any loss or damage that happens during unoccupancy.
What does Unoccupied Buildings Insurance cover?
You might be a developer with a vacant property undergoing renovation, or you might be a house builder with an empty new build while you’re trying to sell to potential homeowners. Whichever situation you’re in, Unoccupied Property Insurance could be necessary if your property is set to be empty for more than 30 days, as the risks from flood, fire, burglary or vandalism damage rise significantly.
In most cases, this type of insurance policy can cover:
- Property damage caused by fire, flood, storms, subsidence or water leakage
- Contents for properties that are furnished
- Theft and vandalism
- Owner’s liability if someone hurts themselves on your property
- Accidental damage
There are so many reasons for properties to be left empty for a long period of time. By working with a range of leading insurers, we can offer high-quality protection for:
- Homes undergoing probate
- Vacant commercial properties
- New builds
- Properties undergoing renovation
- Properties that are on the market and the owners have moved out
So, while there’s no legal obligation to insure an empty property, a tailored policy can give you that extra peace of mind and save you money in the long run. At FMB Insurance, Unoccupied Property Insurance is flexible, with the option available to take out short-term or long-term cover depending on your situation.
Speak to a member of the FMB Insurance team on 01353 652760 to discuss your policy, email [email protected] or request a quote online here.