Unoccupied & Probate Property Insurance

What is Unoccupied Property Insurance

Most general home insurance policies (buildings and contents) state that if a property is left vacant for more than a set period of time – anywhere from 30 to 90 days depending on the policy – then cover will be reduced or even withdrawn. In this eventuality, it is generally advisable to take out an unoccupied property insurance policy.  This is essential in the case of a Probate property.

Why is Empty Property a Specific Insurance Risk?

The short answer is that empty buildings represent a higher risk. No-one being around makes them more susceptible to break-ins and vandalism, and if a fire or flood strikes it can go undetected for longer and the ensuing damage can be much worse and costlier to put right.

Unoccupied Property Insurance for Probate

When an individual has died, an executor or administrator has the responsibility for collecting together the deceased’s assets and distributing them.

A key asset is any Property that the deceased owned. Any existing property insurance is unlikely to be of use because of:

  • The death of the policyholder and
  • The fact that such properties are often left unoccupied for an extensive period rendering standard home insurance invalid.

 

It is the responsibility of the executor/administrator to protect the deceased’s assets and they must put in place appropriate probate house insurance. This needs to be a specialist cover, often referred to as Unoccupied Property Insurance.

In what Circumstances is Cover Required

Cover is typically needed where a property forms a part of a deceased’s Estate. It is the responsibility of the Executor or administrator of the Estate to protect the assets and arrange appropriate insurance.

 

Product Features

Under the specialist LawSure Unoccupied Property insurance, THERE IS NO INSPECTION NEEDED, properties are automatically insured for a rebuilding cost of up to £1M (more available on request) and basic contents of up to £10,000 (again, increasable on request.) and as sometimes it is difficult to know the precise construction date of the property, an estimate is all that’s required. This makes the application process very simple and straightforward and can be completed by the executor/administrator without needing to know the precise history of the house. The form takes less than 2 minutes to complete and a quote is available within the hour.

Cover can be arranged for three months, six months, nine months or twelve months and is typically arranged on a flexible basis either for a three-month period at a time or for an initial period of twelve months with a refund in the event that the property is sold sooner.

Information Needed

  • Name of the Executor/Administrator
  • Address and postcode of the Property
  • Type of Property
  • Approximate year built
  • Number of Bedrooms

 

Unoccupied Property Insurance Form

You can download and complete an Unoccupied Property Insurance form online and email it back to us by clicking here.  Please note: you have to download the form in Adobe Acrobat before the automatic email link on the form will work in order to return the form to us.  The form takes 2 minutes to complete.

 

For further information about Unoccupied Property Insurance or to get a quote, call our team on 0345 557 0845  or 01293 880700 or email us at enquiries@lawsureinsurance.co.uk or use the online chat at the bottom right of the page.