Empty Property Insurance - an increasing need for Commercial and Residential
Landlords alike.
If a tenants business fails or a tenant losses their job, the keys will be handed
back to the landlord. As a result, properties become unoccupied, often without
notice. Empty properties can attract the unwanted attention of thieves, arsonists
or squatters, the current financial climate is leading to a rise in the number
of empty properties being vandalised and robbed of fixtures and fittings.
Thieves will remove anything of value: electric cable, copper gas pipe, lead
and many other things costing £1000’s to replace. In many cases
empty properties become subject to specific policy conditions, which can include
the
need for regular inspection or additional security.
Landlords should not ignore their property even when empty by keeping a documented
record of inspections of property you can often avoid any problems should
a claim arise. Regular inspection of any empty property can identify any
problem
before
they start to become expensive.
Properties become empty for many reasons it could be between tenants or waiting
to be re let. In which case your existing landlords insurance policy may
not be adequate to cover the period the property is empty. For insurance
purposes, landlords the level of Empty Property Insurance also known as Unoccupied
Property Insurance should cover the full reinstatement
cost of the property, including architects, professional fees and the removal
of debris
from the site.
The value of empty house insurance to landlords with property standing
empty cannot be overstated. The sensible landlord, therefore, will continue
to
protect against the risk of loss or damage to the empty property. Empty
house insurance
can provide comprehensive level of cover and can often be extend to such
risks as theft, malicious damage and vandalism. With a little forward
planning, landlords
and managing agents can avoid potential problems exacerbated by today's
unprecedented financial turmoil. Peacock Insurance tailors Empty Property
Insurance for
landlords renovating property or has residential or commercial property
that is between
lets. Call our Landlords Insurance property line to obtain a quote.
We have low cost specialist empty property Insurance schemes avaliable to landlords and home owners with unoccupied properties. We also offer 3 months polices on both residential and commercial properties.
Click 'Start a Quote' to find out how much you could save.
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