Whatever the reason for a property to become unoccupied – be it due to renovation or rebuild works, a sale, working away from home for an extended number of days or indeed as a landlord waiting for the next tenants to move in - it is crucial your customers are protected with the right cover in place.
Generally, if a property is unoccupied for more than 30 consecutive days, then the validity of the existing property insurance policy may become restricted or indeed invalid, leaving your customer exposed should anything happen to their property.
Should this be the case your customer will likely need to consider a more tailored Unoccupied Insurance solution. In addition to getting the appropriate level of insurance cover in place, it is important that customers take the appropriate steps to protect and secure the property thoroughly, unoccupied properties can be exposed to a number of increased risks, threatening them when not in every day usage.
As we recently launched our new unoccupied product, Head of Broker Development, Tim Baxter discusses the key risks covered by Prestige Prism Unoccupied, the second product in our suite of Prestige Prism offering.
We are seeing a significant increase in enquiries from our brokers relating to unoccupied properties, in particular risks with unique circumstances in addition to the occupancy status.
We cater for a wide variety of unoccupied residential properties, whether they are pending sale, undergoing renovation, lengthy, short term, reduced perils, full perils, under probate or a development. We have developed a solution in response to feedback from our brokers that not only utilises our established trading portal designed with the specialist quote journey in mind, but provides the flexibility required for unique risks that may require a more tailored approach over and above the occupancy status.
We recognise the importance of both online and offline solutions throughout our partnerships and being able to offer our brokers choice and unique cover for their customers is at the core of everything we do.
View some tips and advice to help prepare and protect unoccupied properties.