The challenge of finding cheap probate insurance has long been an issue. Its a fairly emotive issue and fraught with difficulties. If losing a loved one is not enough, there are a multitude of issues that need to be addressed – buildings insurance is one but an extremely low priority.
Very few people even realise that the moment a property becomes empty one must notify insurers, even fewer know that when a property becomes unoccupied most insurance policies will revert to only a few perils and often do not cover escape of water or subsidence. It is not exciting to scour through historical policy documents to make sure an empty property is adequately insured but there are many examples of property owners finding out when its too late and, invariably, the claims are of of significant value.

Here are a few tips to ensure that there is the right cover in place, at the right price.

1. Check with the existing insurers to see if they are happy with the property being unoccupied with full cover
2. When getting quotations, try not to be tempted purely by short period policies. They can be expensive proportionately and poor value if the house is not sold before expiry
3. Always check the excesses and the various levels of cover. The cheapest empty property insurance policies are always a good starting point
4. Always check associated conditions such as how often empty properties are required to be inspected. Always keep a log of visits. Some insurers will not count gardeners visits etc as valid inspections
5. Think about draining the water system completely to cut out the risk of water damage claims

The cheapest probate buildings insurance policies still have a basic level of coverage but it is always preferable to seek solid advice before committing. Grafton Insurance Risk Solutions can assist if you would prefer to speak to an expert – 01932 450154.