If you own a property that is currently empty and no one has lived at the premises for thirty or more days then you will most likely require an unoccupied property insurance as most home insurance providers do provide cover for premises that have been vacant for 30 or more days. Always check with your current house insurance company to see if they still will provide cover as some insurers offer full cover for up to 90 days on unoccupied properties.

Due to the nature of this type of risk the insurers level of cover, terms and conditions will vary considerably on a vacant property insurance as opposed to that of a standard home insurance policy. The risk of theft, malicious damage and vandalism increases considerably on properties that are empty. Also if the property catches fire or there is an internal water leak, this may not be picked up by the property owner for some time and as such can result in thousands of pounds worth of damage.

The level of cover available on unoccupied property varies from insurer to insurer but in general most specialist empty house insurance brokers will provide the minimum cover of what is commonly known as the ‘FLEEA’ cover. The ‘FLEEA’ cover provides protection for an unoccupied property for the following perils, Fire, Lightening, Earth, Explosion and Aircraft, hence the acronym FLEEA.

Some vacant buildings insurance companies will also provide full perils including cover for theft, malicious damage, escape of water, flood, subsidence and property owners’ liability. Usually the excess on the policy tends to be higher than that of a standard home insurance policy.

Most property owners will not want to part with any money on a property that’s vacant. However it is still an asset that should not be left unprotected. By going online and shopping around for unoccupied property insurance quotes you still should be able to find a deal that will provide adequate cover for your empty building. Also if the property has a mortgage then the mortgage provider will insist on some form of insurance cover to protect their interest.

Active Insurance offering advice and quotations for unoccupied property insurance for landlords throughout Great Britain