All Property Insurance Policies contain clauses that restrict coverage on the property when the property has been unoccupied for an extended period. Typically that period will be 30 days or more. Different policies have different restrictions but in some instances once the period has passed coverage can reduce considerably, sometimes to Fire only. During Covid 19 some Insurers are extending their covers to allow greater periods of unoccupancy.
As every policy is different and the circumstances of every premises are different we would ask that you contact us if your property is going to be Unoccupied for any period during this Crisis.
Typically Insurance Companies will require you to undertake measures to protect an unoccupied property even where cover is reducing. These measures can include the following,
1.Carry out a thorough inspection of the Premises on at least a weekly basis and carry out immediately any work necessary to maintain the security of the Premises.( Assuming that this can be done within the restrictions now in place)
2.Ensure all services are disconnected at the mains except electricity where needed to maintain any fire or intruder alarm systems in operation and all water pipes/tanks and heating systems are drained down.
3.Remove all refuse and waste materials from the premises
4.Ensure the premises are secured against unlawful entry
5.Maintain a written record of such inspections
6.Ensure that all burglar alarm, fire alarms and sprinkler systems are operational and set.
During this period we would ask all property owners affected by this Issue to contact us to undertake a review of their business circumstances and any steps that need to be taken to ensure the continuity of coverages if they are affected by Unoccupancy. This may require us to consult with your Insurer.
Some Insurance companies are agreeing to extend Unoccupancy periods on their policies to 60 and even 90 days however to confirm the exact position applying to your covers you should contact a team member to discuss.