Vacant property is more vulnerable to vandalism, burglary and squatting
Anyone who owns property should take action to protect unoccupied premises, Towergate Insurance
has warned. There are now over 738,000 empty homes in England and it is thought that the UK’s current economic situation may prompt owners to leave property uninsured.
Jonathan Walker, CEO of Towergate Insurance, says: “In these tough economic times vacant premises are likely to become an easy target for light fingered burglars or even opportunist squatters seeking a new home. It’s easy to forget that most policies have a limit to the amount of time a property can be left vacant”.
In addition to taking out insurance, property owners must remember to inform their insurers if premises become vacant. If they do not give notification, claims may become invalid.
Home owners, landlords and commercial property owners should all take note – it is estimated that millions of pounds in damages is caused each year by fires and vandalism.