What is Unoccupied Property Insurance?

If you have a property that will be left without residents for a considerable period of time, regular home insurance may not cover all the potential pitfalls that can happen to uninhabited properties, such as water leaks. A recent report by the European Federation of National Organisations estimates that one in six properties in Europe are vacant, which is around 38 million empty homes. Although this number may seem surprising, it’s likely that some of these properties won’t be unoccupied in the long term. In 2023, Malta was said to have almost 82,000 unoccupied, seasonal or second homes. In light of this figure, it seems a good time to think about what is unoccupied property insurance and how it protects homes that are empty. 

Contents

• What is unoccupied property insurance?
• What is covered in unoccupied property insurance?
• Typical exclusions from unoccupied property insurance.
• Full property insurance policies with GasanMamo.

What is unoccupied property insurance?

First of all, what is property insurance, also known as landlord insurance? Property insurance provides protection for property owners against financial or legal liability in the event of damage to their property or incidents of theft in the same location. This is useful when there is someone living in the property. 

When no people reside in your property for a longer period, then this would generally be classed as an unoccupied property. Your usual property insurance is likely to cover your property if it is uninhabited for approximately 30 days, although this can vary depending on your insurance provider, so it’s helpful to check your policy.

If you’re thinking of leaving your property unattended for more than 30 days, it’s probably reasonable to let your current insurer know. They will be able to guide you as to what to do next to make sure your property is covered in case something happens. 

If you research rental property insurance explained, you’ll no doubt find that the same rules apply to rental properties as it does to homes.

Unoccupied property insurance covers your property being left uninhabited for a certain amount of time, generally taken at three-month intervals. So you could take out unoccupied property insurance for six months if that’s how long you think no one will be living in the home. 

This type of insurance cover is useful if you’re planning to leave your property empty as a result of a lengthy trip away, if tenants have vacated and you’re struggling to replace them, or if you’re selling the property at some point in the near future. 

What is covered in unoccupied property insurance?

Similar to other property insurance policies, unoccupied property insurance varies from provider to provider. That’s why checking your current policy and researching alternatives will help you find the right deal for your situation. 

Usually, unoccupied property insurance covers:

• Weather events or natural disasters like floods, fires or storms. 
• Theft of contents or belongings from the property.
• Criminal damage or vandalism to the building or its contents. 
• Water damage, such as from burst pipes.
• Liability cover if there are legal issues related to the property. 

Typical exclusions from unoccupied property insurance

Any insurance policy will have some standard exclusions you’d expect to see in the paperwork. Unoccupied property insurance will be different with every provider, but routine exclusions may include the following:

Neglected property damage

If your property is damaged in some way due to neglect or poor maintenance, then it’s unlikely that your insurance provider will cover this damage. An example might be that mould has taken hold within the home, but you haven’t taken steps to reduce or eliminate this. 

Your insurance policy will detail such elements, but claims may not succeed if there has not been sufficient property maintenance. 

Renovation or structural works

If you’re having major renovation or structural works at the property, your unoccupied property insurance likely won’t cover damage caused by contractors or builders. Instead, building renovation insurance is more appropriate for this type of project. 

Full property insurance policies with GasanMamo

Your home needs complete protection and smart insurance policies that adapt to your needs. At GasanMamo, we’re known for our professional experience in all types of insurance, especially property insurance. Plus, we have a full range of property insurance premiums to suit every situation. 

Let us help you protect your property with a policy designed just for you. Contact GasanMamo today or get a quote online to enjoy peace of mind and first-class service.

GasanMamo Insurance is authorised under the Insurance Business Act and regulated by the MFSA.

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