There may come a time when you have to leave your property unoccupied, whether it be for a long travel trip, renovations, or for a second home. Most full term insurance policies do not cover homes when they are left unoccupied for longer than 30 days. In this case specific unoccupied home insurance is needed to protect your building, and if required your contents. You should consider short term home insurance in the following cases:
- Your property is awaiting probate.
- It is undergoing renovation or refurbishment.
- You are awaiting the sale or occupation of your property.
- You are away from your property for a long time.
Short term home insurance offers a similar range of cover that long term home insurance offers, which depends on the type of policy you choose. You can arrange cover for damage and repairs, theft and burglary, fire, flood, and other natural disasters, and you can also have your contents insured.
Quotes for Short Term Home Insurance
Different companies offer a different price for their insurance, and may differ on the specifics of their policies. It is imperative to shop around and find the best deal. Price comparison websites can help you to do so with relative ease. When you find a company that seems to offer a great deal, do not be afraid to ask for an obligation free home insurance quote. A little time and effort now could save you a lot of money.
The premiums for short term home insurance are often higher than they are for ordinary home insurance. This is because the property is often left unoccupied, making it more of an ideal target for theft, and also making it a higher risk of serious damage when something goes wrong. A small problem can easily escalate if nobody is around to resolve it. Insurers see this as a higher risk, and this means that you pay more. This makes it even more essential to make sure you get the best deal.
It is possible to drive down your premium by ensuring certain safety and security measures. One way to do this is to have security camera systems on the building, which massively reduces the risk of burglary, and therefore the price of the insurance.
Holiday Home Insurance
If you have recently purchased a second home, a nice holiday home by the sea for example, then you might be too excited to have even considered holiday home insurance, but your second home needs to be insured for the same reasons as any other home. Building insurance covers the cost of damage and repairs to the building, and some policies offer further cover too, even finding you alternative accommodation you in the event that the building become uninhabitable.
Some companies offer specific insurance policies for holiday homes. You may also have to take other factors into consideration that would not apply in the UK, depending where your holiday home is located. For example, natural disasters are an issue in some places and, although the price is high, insurance policies can still cover it. Shop around to get the best deal, and remember that if you are visiting your holiday home for longer than 30 days, you should consider short term home insurance for your first home.