Coronavirus has impacted many areas of peoples lives in 2020 in many unexpected and one way which many home owners may not be aware of is to do with their prized holiday homes.
Homes are most likely the most valuable asset that a person owns and as such, needs to be insured in case something happens to it. What many people don’t realise is that some insurers require that your home is not unoccupied for an extended period of time to remain covered by insurance. Some insurers may refuse to insure your property and others like CommInsure raise the excess greatly if your home is unoccupied for extended periods of time.

Most insurers require your home to be not unoccupied for any greater than 60 to 90 days. With the current strict lock downs in parts of the country, it is almost impossible for many holiday home owners to visit their properties that may be in another state. Most insurers are understanding of the current situation home owners face however you should make sure you contact your home insurer to confirm that they will provide you some leeway with the current situation. Often this is a negotiation with the insurer and your individual situation so it is important that you have it on record that they will allow you to leave your home unoccupied for longer periods.

Unfortunately there is not a common consensus across all insurers so it is important for you to check with your insurer.

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