Do you need to insure your unoccupied house?

Getting house insurance for your unoccupied property is important

17:21 27 November 2012

If you recently moved to a new house to get closer to your family, work, or your children’s school, or if you suddenly inherited a house, you may find yourself with an empty building.

 

Empty houses are more prone to burglary and vandalism compared to occupied houses. It is for this reason that house insurance is important.

However, house insurance companies are usually hesitant to sell policies for unoccupied houses because of the said reasons. The risk of filing a claim is increased as the house would become an easier target for burglars.

To get house insurance cover and to also lower the cost of insurance for your unoccupied house, you can rent it out or to get a caretaker. Having somebody who will collect the post and take care of the house will make your house look safer to the eyes of insurance companies.

Installing safety devices such as sprinkler systems, smoke alarms, monitored security systems, and video surveillance will also help in lowering your house insurance premiums.

Should your current insurance company refuse to insure your unoccupied house, or decide to increase your premiums, shop around for better rates by getting quotes from different house insurance companies.