Is it more expensive to insure a vacant home?

Because unoccupied and vacant homes often pose a greater risk, vacant home insurance is expensive — averaging about 1.5 to 3 times more than a standard insurance policy for an occupied home, according to insurance.com.

Can you insure a house that is empty?

Unoccupied home insurance is a specific type of insurance policy for when you leave your home unoccupied for longer than your regular home policy allows, usually 30 days. With a specific unoccupied policy, you can leave the property vacant until your policy ends.

What happens when a house sits vacant?

Vandalism and Theft – Vacant properties attract trespassers, criminals and other thieves without proper security measure in place. Without proper supervision, the houses can become easy targets, and damages range from broken appliances to vandalism to stolen copper, and even to structural damage.

What constitutes an unoccupied house?

When it comes to insurance, an unoccupied property is a property that no-one is currently living in, and potentially has been left empty for a prolonged period of time.

Can you insure a house that is not occupied?

Generally, your home is considered vacant if it’s left empty for 30 to 60 days or more. Most typical homeowner policies won’t provide full coverage for the property once it’s been vacated. Vacant home insurance can be purchased to help.

How long can I leave my house empty?

Generally, there are no set-rules in place that state how long you can leave your unoccupied property vacant for. However, it is important to note that most standard home insurance providers will only cover an empty property for 30 to 60 days.

Do you still pay rates on an empty house?

If you own or rent a property that becomes empty and unfurnished, you can apply for a 100% council tax discount for one month from the date it first became empty and unfurnished. If the property remains empty and unfurnished after one month, the full council tax becomes due and you will have to pay the full charge.

Is house insurance cheaper if the house is empty?

When there are residents in the house it’s much safer and less of a risk for insurers as there’s someone to limit damage from accidents and prevent vandals from striking. For these reasons, unoccupied property insurance can often be more costly.

What does unoccupied mean in insurance?

Even if it is not vacant, a building is unoccupied when people are absent. The wording in many property insurance policies limits reduces or entirely eliminates coverage when a building has been vacant (or, in some forms, vacant or unoccupied) for a designated period of time such as 45 or 60 days.

Do you pay water charges on an empty property?

You only pay charges if your property is occupied, water use is being recorded through your meter, or you receive services from us (for example, renovating your home, cleaning and heating).