Vacant Property Insurance

peteb

Frequent Poster
Messages
1,650
what are you considering decent cover? You are only going to get fire lightening explosion with property owners liability.
 

AlbacoreA

Frequent Poster
Messages
3,261
I was hoping someone else has some experience of this, and can advise what is decent cover.

I'm expecting I won't get much cover.
 

peteb

Frequent Poster
Messages
1,650
That is the only cover you will get on vacant building. There's no point in looking any further on it. The market is extremely limited. Kidd Insurances (now Arachas) had a scheme for this.
 

Jetblue

Frequent Poster
Messages
159
Have you considered Holiday Home insurance?
Would this be an option for your property, I believe it costs much less.
 

AlbacoreA

Frequent Poster
Messages
3,261
Its substantial property, owner died and all the children own their own homes so can't get anything other than vacant property insurance. Its only to cover until its decided what to do with it. There's almost always someone in it most of the week. But insurances companies don't let you split your primary residence between two locations. How do wealthy people with multiple homes manage?
 

Derry

Frequent Poster
Messages
46
Was the house insured before your relative passed away? If it was then the company it was insured with should still cover it for Fire only even if it remains vacant. My late Uncles house was insured with Axa, when he went into the nursing home, Axa still covered it but with Fire cover only. Now that he has died Axa are still covering it with fire cover only but at least its better than nothing and w will keep that cover until his house is sold.
 

twofor1

Frequent Poster
Messages
1,279
My experience with Allianz, every year before renewal Allianz write asking if the property is occupied and by whom. If the property remains unoccupied, they want to be advised of the intended use / occupancy of the property.

Every year my relation writes back stating the house remains unoccupied and would like to renew cover while options being considered. Letter also points out the house has monitored alarm and is checked regularly. Cover was recently renewed for a third year on a fire only basis. No idea though if it will be renewed next year.

Another relation in similar circumstances replied to Allianz confirming the house was still unoccupied, said nothing about considering options, monitored alarm etc and was refused any cover after year 1.
 

AlbacoreA

Frequent Poster
Messages
3,261
As it turns out they will keep the existing cover until renewal then it will be fire only.

These days on properties I say no alarm etc even though it has one etc. They make difference to the premium and it's something they can use to wriggle out of.
 

Leo

Moderator
Messages
10,266
If you or your relatives stay there for a week or two once a year is it not a holiday home?
We all know how keen insurance companies are to find a reason to refuse a claim. So I'd advise anyone anyone using holiday home insurance to be 100% certain they remain within their insurance company's definition of a holiday home, and maintain evidence that they meet all requirements such as utility bills showing consumption.
 

peteb

Frequent Poster
Messages
1,650
If you or your relatives stay there for a week or two once a year is it not a holiday home?
And if someone stayed there and wasnt paying rent and broke up the 30 day unoccupancy condition with some insures it would be considered owner occupied but.......
 

DirectDevil

Frequent Poster
Messages
620
Interesting question.

My uncle is the sole owner of and was the sole occupant of his family home.
Due to a stroke he does not reside there so he lives in a nursing home for the present.
No issues of mental competence arise.

Several of his grandchildren are now in occupation of the house in a simultaneous and or a rotating fashion such that the house is virtually never unoccupied.

How does he stand from a household insurance perspective in terms of cover ?
Should he notify the insurers at renewal of the situation - i.e. is the situation a material fact to be declared ? I am beginning to suspect that it might.

P.S. No rent is being paid by the occupiers so they are not there as tenants.
 

AlbacoreA

Frequent Poster
Messages
3,261
The problem is if you have to make a claim, and they want to talk to the uncle and then they discover hes been not been at home for years.

Unfortunately with the situation I was talking about earlier, the children trying to get insurance all had home insurance with the same company. So you can't claim two properties as primary residences. if no one can do that, then you can only get vacant house insurance.

Even if the house is rented, you have to declare someone is there there whole time. Even though you have no idea if the tenants are away for long periods.
 

peteb

Frequent Poster
Messages
1,650
Interesting question.

My uncle is the sole owner of and was the sole occupant of his family home.
Due to a stroke he does not reside there so he lives in a nursing home for the present.
No issues of mental competence arise.

Several of his grandchildren are now in occupation of the house in a simultaneous and or a rotating fashion such that the house is virtually never unoccupied.

How does he stand from a household insurance perspective in terms of cover ?
Should he notify the insurers at renewal of the situation - i.e. is the situation a material fact to be declared ? I am beginning to suspect that it might.

P.S. No rent is being paid by the occupiers so they are not there as tenants.
Devil is in the detail. It will come down to the unoccupancy wording in the policy document and the interpretation. Dont forget its contra proferentum. But you'd want to be sure. Each insurer will differ. You could declare it and will probably cause issue just because someone in the insurers now decides it should be and makes it that way. But agan if you are strong enough on your argument on the wording of it.
 
Top