Other Any need for insurance on unoccupied apartment ?

[twofor1]

I have an apartment rented, tenants are moving out at end of month, given the hassle involved in being a landlord and falling rents I have decided it’s no longer worth it. I will use it myself occasionally and at some future date when/if things improve, I will try and sell.

I have always had contents insurance mainly because public liability for tenants was included, when I tell my insurers that the apartment will be mostly unoccupied I would imagine my premium will increase substantially, if they will cover me at all.

I’m prepared to carry the risk of break-ins and contents, so given there is a block policy in place for fire/ water damage is there now any need for contents or other insurance ?

 

[kkelliher]

If the property is unoccupied for generally more than 30 days (check your policy) your insurance company will not cover any claim therefre yes it does not make sence to have it if your going to leave it empty.

If you tell them they wont generally increase your premium, they will simply cancel cover as they generally dont cover unocopied buildings

 

[jay82]

No insurance is required for an unoccupied property that has been vacant for over 30 days. If you are not concerned with break-in then there is no need for any other insurance as such

 

[Sue Ellen]

given there is a block policy in place for fire/ water damage is there now any need for contents or other insurance ?

But will this block policy maintain cover if the premises is unoccupied? Best to check this out with insurance company/management company and get copy of policy to confirm this or something in writing.