Unoccupied landlord & property insurance

It is a fact of life as a landlord that, sometimes, a rental property stays empty for longer than you might like. You may be waiting for tenants to move in, be between lets or waiting to sell a buy-to-let which has previously been rented out. For whatever reason, it happens.
For most landlords, dealing with the cost of a burst pipe, fire damage, theft, vandalism, flooding or similar can be stressful at the best of times. Where a property is vacant – however long or short that period may be – such situations can become critical.
Indeed, a building which stands empty for an extended amount of time can be considered at greater risk from thieves who may view it as an easy target, or significant harm from weather damage which has the potential to remain undetected for some time.
Home insurance
Most standard home insurance policies do not cover a property which is empty for more than 30 days - sometimes less – which makes specialist unoccupied landlord insurance a must if it is likely one or more of your properties looks set to remain unused for a considerable amount of time.
A specified unoccupied property insurance policy protects a buy-to-let for a specified amount of time selected by you, the landlord, to cover your individual needs.
As empty homes often don’t stay that way for good, the majority of insurance providers won’t make you purchase unoccupied cover for the usual 12-month period, however, with most offering three, six, nine or 12-month policies for vacant properties instead.
Optional policy extensions
Optional extensions are also a common feature which can prove useful to landlords whose property takes longer than expected to sell, for example, or when the arrangement of a tenancy falls through for any reason.
The cost of your cover will otherwise vary depending on the value of your property, its location, how well secured a building is, the reason it is unoccupied and more.
Protect Your Bricks can help you pin down a policy that will suit your property and your budget so you aren’t left out of pocket should something happen if the property is left unoccupied for any length of time.
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Did you know?
If you have a mortgage on your property it's very likely that your lender will require you to take out insurance before you take on tenants.