Protection for empty residential and commercial properties
Perfect for properties being renovated or those empty between tenancies
Unoccupied property insurance is designed to provide a layer of protection for landlords and property owners who have properties or a property that currently lies unoccupied. As a landlord of an unoccupied property there are numerous reasons as to why your property might lie unoccupied. You might be carrying out major renovations requiring the property to be untenanted for a significant time period. Or you may well be in-between tenants. But while the builders or decorators are in, or while you’re waiting for new tenants you’ll still understand that it’s worth ensuring the properties you own that lie unoccupied maintain an adequate level of cover.
At The Insurance Octopus, insurance policies are flexible enabling you to add, remove, increase and decrease covers when needed. We ultimately aim to make the process of insuring your unoccupied properties as easy as possible and our insurance specialists will always seek to design an insurance policy specific to your rental business.
For peace of mind, make sure you have unoccupied property insurance in place, and know that your business is financially protected.
Remember: Reducing your premiums can sometimes be available by clearly stating the reasons for the property being vacant. Let us know how long you expect the property to be empty, and make sure security is as efficient as possible.
What your unoccupied property insurance policy includes
This cover includes protection against risks such as fuel leakage, falling trees, loss of oil or unauthorised use of utilities.
An optional add-on, subsidence happens when the soil on which a house is built shrinks or swells and dependent on the weather conditions. This type of cover protects your property against such damage.
Benefits of having unoccupied property insurance
At The Insurance Octopus, we have a selection of UK insurers providing the widest choice of unoccupied landlord property insurance. Landlords Public Liability Insurance or Property Owners Liability Insurance is essential for renting out properties for residential purposes.
Legal bills and compensation pay-outs associated with these kinds of cases can be costly, so it’s important to protect yourself. Public Liability insurance will provide financial support if a court case is brought against you. As part of your landlord insurance quote provided by The Insurance Octopus, you can be ensured that it includes this for peace of mind.
Things to know
When you’re considering taking out a policy, one of The Insurance Octopus Landlord Insurance experts will discuss your business requirements with you and compare personalised quotes from a number of major UK insurance providers. You will get a bespoke policy that ensures you only pay for the cover you need.
Range of payment options
We can provide you with your business insurance and documents on the same day in most cases, offering a range of flexible payment options, including Direct Debit. Speak to us today to get a quote.
How it works
Examples of Unoccupied Property Insurance in action
The £5,000 storm damage to the garage
Your property is vacant for several months while you find a new tenant or are renovating the interior. Stormy weather causes the tree in the garden to fall onto the roof of the property, meaning it will need £5,000 worth of repairs before you can rent out the property again. Unoccupied Property Insurance Buildings Cover supports you in fully funding the repairing of the garage as soon as possible, so you can soon rent out the property again.