Property empty and being renovated- what is appropriate insurance?

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    Property empty and being renovated- what is appropriate insurance?

    My long term rented house is vacant for the first time in about 20 years and requires extensive renovation. New kitchen, bathroom, flooring etc. Landlord insurance on it has run out, what would be most appropriate to purchase at present? It is empty of all furniture. I don’t imagine it will be let out for another 3-4 months at least. Thanks in advance.

    #2
    Speak to your previous insurer and/or a broker specializing in this area... e.g.

    https://www.landlordzone.co.uk/suppl...tory/insurance

    Different insurers have different products...
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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      #3
      Yes, speak to a specialist broker. Knowing your intentions to renovate then let to tenants we would insure this under an unoccupied property insurance policy that has the option to change mid-term to a normal landlords insurance policy.

      Would definitely need to start as an unoccupied property insurance but worth checking for the option to change once its let or whether there are cancellation/adjustment charges as this may affect your decision in taking out the policy.
      Steve Smith - Company Director at a leading Landlord Insurance broker with 20+ years experience in the industry
      LandlordZONE Verified Poster and Topic Expert for Landlords Insurance since 2009
      See my profile for contact details

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        #4
        You need 'Empty Property Insurance'. Specialist brokers offer this over 3,6 or 12 months & is basically FLEA cover which is much reduced cover at a higher price but necessary if you don't want to lose everything!

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          #5
          Check out towergate website which offers for cover for unoccupied property for 3 months. ( Not a recommendation but you can ask for a quote)

          https://www.towergateinsurance.co.uk...erty-insurance

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            #6
            Just tell your broker, they will probably exclude malicious damage and wet perils and tell you to seal the letterbox

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              #7
              I think Towergate are expensive - google it and get 2 or 3 quotes. You will only get basic cover so no point paying through the nose.

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                #8
                Thanks everyone, in the event I went back to my landlords insurer ( Endsleigh) explained the situation and they sold me cover for vacant and renovations, £390 p.a. This can be terminated when tenants moved in , with the unexpired period refunded, and moved back onto standard landlords insurance, or so they tell me.

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                  #9
                  I have just paid £197 for a similar deal - perhaps you should look around for a cheaper insurer - I have never found Ensleigh competitive and that is money straight off your bottom line.

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                    #10
                    Obviously depends on the area, value, rebuild costs etc but £390 seems a bit expensive. I pay £238 through Adrian Flux for empty property insurance. When tenants move in the cost will be recalculated and any difference refunded.

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                      #11
                      Thanks for letting me know guys. On this occasion I guess I should have shopped around more.

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