Buildings Insurance for empty property from Prosura.
No matter whether commercial or residential, if you have a property that is going to be vacant for an extended period – typically 30 days – a standard property insurance policy won’t provide the protection that you need.
Getting insurance for empty properties is something we here at Prosura can help with. Our experienced team off friction free advice and access to a choice of products from a range of leading insurers.
Why might you need specialist empty property insurance?
There are a range of reasons why a property may be left unoccupied for an extended period of time. Whatever the reason, from an insurance perspective, it changes the risk profile. Vacant properties are at greater risk of being broken into or vandalized. If something were to go wrong – a leak for example – it may be that it goes unnoticed for longer than it otherwise would with a tenant in place.
Unoccupied Commercial Property Insurance
If you own a commercial property, it could be that your previous tenant has vacated and you are putting it back on the market. You might be doing renovations between tenants. Whatever the situation, where a property is left vacant for more than 30 days, it is likely you will need to buy unoccupied commercial property insurance.
Unoccupied home insurance
Homes can go unoccupied for a number of reasons. You may be a residential landlord with a property out for let but not yet filled. It could be that a property is left empty following the death of its owner, and is awaiting probate. As with a commercial property, you will need specialist cover where a home is left unoccupied for an extended period.
What protection does empty property insurance offer?
Empty property insurance will protect you from a range of risks where a building is unoccupied for more than 30 days. As standard they tend to only cover Fire, Lightning, Explosion & Aircraft (FLEA), however an increasing number number of insurers are offering “Wider Perils” options. These can include theft, Accidental Damage, and Subsidence cover.
Although the property is vacant, it may have contents in it. You should consider the value of these contents and can look to have them including on your empty property insurance policy.
Why choose Prosura to buy empty property insurance?
We’re here to provide friction free access to expert advice and high quality insurers. We’re on hand with professional advice as your property portfolio evolves and expands.
We also give all our Property Insurance Clients free access to PROSURA Digital Lawyer, saving them hundreds of pounds a year on Legal Fees.
For your empty property cover requirements, contact the specialist brokers at Prosura today.
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