SHORT TERM HOME INSURANCE

When short term home insurance may be needed

Have you ever thought what would happen if your home was left empty for a long period? You might, for example, spend several months at a holiday home, or maybe even in hospital. What if you have moved out of your house but it has not yet been sold, or you are awaiting probate on a property? You could also decide to find alternative accommodation while you carry out extensive building work or renovations on your home.

Whatever the reason, an empty house still needs insurance. After all, the property could be damaged by fire, flood or storm. The contents are also vulnerable to theft if there is no one at home, so adequate cover is essential. 

Most home insurance policies do not, however, cover the property if it is left unoccupied for more than 30 consecutive days. So, if there is a fire or a theft, the insurer will not pay out. 

There is also little point in buying insurance for 12 months, if you only need cover for six. Short term home insurance could therefore be the answer.

What does short term house insurance cover?

A short term house insurance policy gives you pretty much the same protection as a standard policy - the key difference is that the house does not have to be occupied. 

Most insurers are flexible and will tailor short term cover to suit your personal circumstances.  However, some firms will limit the number of short term policies that you can take out each year.

Policies also vary so it is always important to check the terms and conditions before you buy any insurance. Some insurers might, for example, exclude loss or damage as a result of unforced entry, or damage caused by contractors.  

How much does short term insurance cost?

Short term home insurance tends to be more expensive than standard cover because an unoccupied property is considered a bigger risk to the insurance company. An empty home is more vulnerable to thieves. Plus, there is no one on hand to deal with an emergency such as a fire or a burst pipe.

Try not to stint on cover though, even if you have to pay higher premiums. Short term buildings insurance covers the bricks and mortar of your property, plus any permanent fixtures and fittings. It should pay out the total rebuild cost of your home if the worst should happen.

And you should have enough contents insurance to cover everything you would take with you if you were to move home. Many people underestimate the value of their belongings, so it's important to draw up an exhaustive list. If you have temporarily moved out of your property, you might be able to do without short term contents insurance. Just make sure that you have some protection in place for your personal possessions.

How to save money on short term home insurance

You can often save money if you shop around for short term cover. Moneysupermarket.com makes it easy to compare quotes online from a range of different insurers.

You can typically reduce your premiums by taking out a bigger excess, which is the amount you pay towards any claim. But make sure you can afford to pay the larger excess if necessary.

You may also be able to negotiate cheaper premiums if you have installed approved security measures, such as a burglar alarm and window locks.