Running on empty – The costs of leaving a property empty may be higher than you imagine

Running on empty – The costs of leaving a property empty may be higher than you imagine
12th October 2007

By David Lawrenson
So what are the increased risks, how can you protect your property while it's empty, what will insurers do and not do and what should you look at on your insurance policy if your property is empty?

The greatest worries for landlords other than getting a bad tenant are probably the risk of having no tenant at all as there will be no income to set your costs against.
To ensure that it does not get any worse, however, it is important to check how your insurance will be affected if the property is vacant and to know what steps to take to protect the property from damage when it's empty.

If you have a property vacant for more than a few days, look at your insurance policy to see how they define "unoccupancy"

Different policies

Each insurer has slightly different policies on this - different insurers will consider a property to be unoccupied if it has not had anyone living in it for a period of seven or 14 or 28 days.

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