Toggle Main Menu A look at Nelson Policies at Lloyd’s product for Unoccupied Property Owners Unoccupied property, both domestic and commercial, can be susceptible to potential issues, such as break-ins and theft, vandalism, fire, malicious damage, escape of water, and flood damage. For property that may be left vacant for a longer period than what is covered by standard insurance, it is important the owner has unoccupied property insurance to cover the property and its content if a problem was to arise. Typically, standard property insurance policies cover a vacant property for 30 to 60 days. However, the timeframe can be longer or shorter, depending on the individual policy. Unlike standard property policies, unoccupied property insurance covers an empty property for a longer duration, typically between three, six or 12 months. Properties can be left unoccupied for a number of reasons. Some of the most common include: Awaiting sale or tenancy Awaiting probate The property is a second home and the owner is away Undergoing renovation or refurbishment While not limited to, Nelson Policies at Lloyd’s product covers the following property type: Residential house or bungalow Individual flats Shop and Offices Care homes Restaurants Industrial Units Chapels While not limited to, our product covers the following occupancies: Awaiting Sale Awaiting let New Purchase Undergoing Renovation inc. some structural Probate Awaiting planning permission The non-standard features our unoccupied property owners’ product include are: Previous Convictions, Bankruptcy, IVAs Refused or declined Insurance Adverse Claims Experience Non standard Construction (Ex Thatched) The cover includes: Buildings Contents Property Owners Liability The limits of the cover are: Up to £2,000,000 sums insured any one risk / location. £1,000,000, £2,000,000 and £5,000,000 POL available. Short Term Policies – 3 and 6 months Covers are: Level 1 – FLEEA only Level 2 – Wider Perils Extension includes: Professional fees, the cost of removing debris and making the building safe – Up to 15% of the Building Sum Insured Damage to buildings caused by emergency services – Up to £1,000 Purchase Agreement – sale of property Each enquiry will be reviewed and underwritten on its own merits, with terms provided on the same day. For more information on our product for unoccupied property owners, get in touch with the Nelson Policies at Llyod’s team. SHARE: Back to Blog © 2019 All rights reserved. 2nd Floor, Knightrider Chambers, 12 Knightrider Street, Maidstone, Kent, ME15 6LP Registered in England and Wales. Company Number: 1825766. We are authorised and regulated by the Financial Conduct Authority (Firm Reference Number 305456). tel. +44 (0)1622 681243 info@nelsonpolicies.co.uk PrivacyCookie Policy Website designed by IVC