Home insurance unoccupancy periods.

[Brian Kirby]

Our renewal invitation from our existing insurer came with a notice that the unoccupancy period (i.e. the number of days your insurance terms are fully maintained when you are away from your home) had now ben reduced from 180 days to 60 days. The renewal invitation was sent as a series of e-mail attachments, and it would have been very easy to overlook the notification of reduced unoccupancy allowances among the other bits. Fortunately I opened it, but it seems that extended unoccupancy periods are becoming more difficult to source.

 

So, two warnings. First, check carefully when you get a renewal invitation that the unoccupancy has not been changed (and if you hadn't realised there is one check what it is! :-)) Second, be prepared for a frustrating search for alternative insurances that do not penalise periods of absence exceeding 60 days.

 

The next issue is that many insurers ask you to specify the rebuild cost for your home if it were a total loss. In some cases they will suggest values as being suitable. In either case, be very, vary careful what value you settle for. Not having had to tussle with home and contents replacement values for a number of years, and knowing that current building costs are particularly volatile, I eventually found the BCIS building costs calculator. You have to quote the gross area of you house, measured over the external walls for each floor, but once entered you get coat estimates base on construction and location. This is a commercial service, but individuals can register to use it free up to 4 times per year.

 

Inevitably the estimate is hedged by high and low range costs. For instance, what i got back was: "The rebuilding cost is estimated to be £453,000 based on the information and assumptions (provided). .................. While the figure above is a reasonable estimate of the likely cost for a good quality house with typical facilities, a basic quality house of the same size with minimal facilities might be rebuilt for £391,000 while an excellent quality house might cost £583,000 to rebuild." See what I mean? :-)

 

However, what really staggered me was the huge variation in premiums on offer for the same house, in the same street, in the same town. The renewal quote was based on "standard" rebuild and contents values of £1,000,000 and £100,000 respectively, with an annual premium of £450. The lowest I got was for £170, and the highest just over £600! One insurer suggested that an appropriate rebuild value for a typical 2 storey 3 bed semi would be in re region of £325,000, with about £30K for contents. Be careful out there - be very careful! :-(

 

If your house burns down, or suffers severe damage, and your insurer decides that the rebuild cost cost you have agreed/accepted is inadequate, they will be liable to declare you under-insured and refuse to pay the full cost of repair. If your house is burgled while you are away, and your insurer becomes aware that you had been away longer than their permitted unoccupancy period, you are liable to find that you get no (or minimal) cover for your losses.

[vindiboy]

My Bungalow is insured via the CCC , as a member, I get 180 days un occupancy with it really good cover ,contents, accidental cover too goods away from home etc highly recommend any one to try them, every time at renewal I shop around but cannot beat their cover or premium .

[webby1]

Thanks for that heads up.............................of course we are all going to be paying more for less.

 

So it's a good reminder to check all those things (ie the small print )that may well have changed

[Brian Kirby]

vindiboy - 2022-07-13 9:57 PM

 

My Bungalow is insured via the CCC , as a member, I get 180 days un occupancy with it really good cover ,contents, accidental cover too goods away from home etc highly recommend any one to try them, every time at renewal I shop around but cannot beat their cover or premium .

Yes, but check the conditions of the unoccupancy period if you travel between 1 October and 1 March, as they told me they need the heating to be left running at min 15C, or the system to be drained. They also require weekly inspections of the property while unoccupied, with the inspections recorded. That put them out of the running for us.

[vindiboy]

Brian Kirby - 2022-07-14 9:38 AM

 

vindiboy - 2022-07-13 9:57 PM

 

My Bungalow is insured via the CCC , as a member, I get 180 days un occupancy with it really good cover ,contents, accidental cover too goods away from home etc highly recommend any one to try them, every time at renewal I shop around but cannot beat their cover or premium .

Yes, but check the conditions of the unoccupancy period if you travel between 1 October and 1 March, as they told me they need the heating to be left running at min 15C, or the system to be drained. They also require weekly inspections of the property while unoccupied, with the inspections recorded. That put them out of the running for us.

Yes well aware of those conditions no problem there I always fully drain our Central heating and water systems on our long trips , also Gas OFF and neighbour has keys as do my Grandsons and they keep an eye on things , So a happy bunny with the cover I get, I have however just moved away from the CCC for my van Insurance, the renewal price was OK but they had moved me away from AVIVA to another company with a lesser degree of cover and only 90 days in Europe so I am now with AIB and get 180 days in Europe and better breakdown cover as well I guess my age and 10,000 miles a year put them off ? try not to get old hee hee