How to Lower the Price of Unoccupied Property Insurance?
A vacant house is an ideal target for burglars, and the most dedicated criminals tend to keep tabs on when homes are occupied or not. Of course, even empty properties require insurance, but you may be left wondering how you can get a cheaper insurance premium for your vacant property.
Recently in Portishead, suspicions have been raised concerning a ring of burglars who appear to have been keeping a watchful eye on empty properties to target, and they do this by marking each home with a small bundle of white stones on the driveway or under the wheel of a car.
Nick Gough, an area coordinator for Portishead Neighbourhood Watch, confirmed that he and fellow Neighbourhood Watch members believe particular roads are “being targeted by burglars”.
These reports swiftly followed an investigation by the Sun which revealed police in the UK on average have solved only 1 in 10 break-ins in the last 6 years, with the suspect being caught and belongings rightfully returned to the victim happening rarely. Bedfordshire has the lowest percentage of solved burglaries, at 6% out of 45,397 crimes, whereas Nottinghamshire has the highest success rate at 10% out of 52,635 crimes.
A mere 7% of the £2 billion goods stolen by theft in the UK are all that was recovered by police during the years of 2011-2016. With such statistics, perhaps it is worthwhile to consider looking into a protective home insurance policy which will cover your home and contents whilst you are away.
Why do You Need Unoccupied Property Insurance?
Unoccupied property insurance is a type of non-standard home insurance which protects your home or business premises whilst you are away.
Other types of non-standard home insurance include cover for properties made out of atypical materials. This includes houses constructed out of glass, corrugated iron and concrete for example, or houses with abstract roofs which may require insurance due to potentially failing to withstand extreme weather conditions.
Your home may be vacant for a number of reasons, such as:
– Going on a holiday for an extended time period.
– Relocating due to having building and decoration work carried out.
– The property belonged to the recently deceased and you have inherited it.
– It is a holiday home.
– You’re a landlord and currently in between tenants.
Typically, an average home insurance policy will not cover your property if it is left empty for longer than 30 days, so if you are planning on going away for longer than this you should look into getting extra protection.
What does Unoccupied Property Insurance Cover?
An empty house may not just pose as a welcoming target for burglars, but also squatters and anti-social behaviour (e.g. graffiti or drug use), however, an unoccupied property insurance policy will cover you from all of these issues, as well as severe weather damage.
In the situation of a fire, a storm or a flood, we will have you covered. Insure 24-7 also offers extra protection if you wish to arrange an insurance policy that extends to cover the contents of your home.
Many people forget the importance of checking their current home insurance policy before they go away, and they tend to learn that they are not protected should something go wrong.
What Can Lower the Cost of Vacant Property Insurance Premiums?
There are many factors which will affect the price of your unoccupied property insurance premium, but the biggest aspect is undoubtedly the level of security which you already have in place.
If you haven’t got an efficient security system installed in your home and its surroundings, this will likely increase the price of your premium. Additional features such as motion-sensory lighting and fitting new locks where necessary should be considered, and if possible, request that a local trusted friend or neighbour performs frequent check-ups on your property.
If you have someone who can carry out these checks for you, it is advised that they go to extra measures such as opening blinds and curtains, managing the build-up of post and parking their car on your drive if this is a possible option. Some of these actions may sound unnecessary, but it makes your property appear engaged in an attempt to deter any watchful thieves. The price of your insurance premium will likely decrease too if you prove you have these kinds of plans in place.
It is also vital that not one window or door is visibly boarded up, that the property looks tidy and is as secure as possible.
You may believe it is more cost-effective to completely turn off all central heating systems, however, if you plan on vacating during the winter, you may want to consider leaving it on to avoid the potential stress of pipes freezing and leaking. We recommend keeping every room at an even temperature of 13C to prevent this from happening and taking this extra precaution will likely reduce the price of your insurance premium.
Additional factors such as the location, value and nature (residency or commercial) of the property will also be taken into account, as well as considering the reason why the building is empty and how long for will also determine how much your premium will cost.
Get a Quote for Empty Building Insurance with Insure 24-7
Insure 24-7 understands the importance of having a safe and secure home to return to, with all of your belongings untouched and as you left them. We aim to eliminate the worry you may feel about leaving your home vacant, as well as offering competitive prices to give you financial peace of mind.
Contact one of our specialised insurance brokers today for a free no-obligation quote, and we can discuss finding you a tailored policy which covers all of your requirements.