The perils of 'Standard terms'

When an estate practitioner reports to a household insurance company that the insured property is unoccupied, he will be faced with one of a few responses from the insurer, who will normally do one of the following:

1. Reduce the cover to Fire, Lightening, Aircraft & Explosion
2. Exclude theft, malicious damage & escape of water
3. Cancel the policy
4. Confirm that they are happy to continue cover on standard terms

Warning - Standard terms does not mean the insurance policy cover is unaffected
​If you were advised by an insurer that they are continuing cover on standard terms, you could be
​ forgiven for breathing a sigh of relief, and after making a note of the next renewal date, filing the insurance papers away with a feeling of accomplishment after a job well done.

However, all is not well.
A read of the 'standard terms' which apply to a household insurance policy throughout the period of cover, will reveal that after a specified period during which the home is not occupied overnight, the 'standard' terms to which they refer will severely restrict the cover provided by the policy, leaving your client (and therefore your practice) exposed to risk of dramatic losses should an event occur.

Unless you have a written endorsement from an insurer which changes the policy wording in respect of an unoccupied period, the exclusions above will be in effect, even though you have advised them of the change in occupancy. If you haven't advised them, you might have no cover at all.

Our Solution

We can offer you an insurance policy which provides cover for standard perils on an unoccupied property.

Cover for:

• Fire, lightening, earthquake, explosion
• Storm or flood
• Escape of water from any fixed appliance, pipe or tank
• Escape of oil from any fixed appliance, pipe or tank
• Theft or attempted theft
• Riot
• Malicious damage or terrorism
• Collision by aircraft, animals or vehicles
• Falling trees or branches, lamp posts or telegraph poles
• Breakage of collapse of satelite television receiving equipment or TV/radio aerials
• Subsidence, ground heave or landslip of the site on which the property stands

Additional cover for buildings

• Accidental damage to underground services
• Trace and access cover - up to 10% of amount insured
• Damage caused by emergency services
• Fire extinguisher cover - cost of refilling after emergency use in insured event
• Accidental Damage to closed circuit TV
• Removal of debris
• Property Owners Liability up to £5,000,000.

Additional cover for contents

• Employers Liability cover for accidents to domestic staff up to £10,000,000

Obviously, underwriting criteria apply and you should call us or enquire online for a quotation to confirm what terms we are able to achieve.