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15 February 2021

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Unoccupied Properties: Covid-19

With the government restrictions continuing as a result of the Covid-19 pandemic many businesses or property owners may find their premises become unoccupied.

When a property becomes unoccupied it can have serious implications on the insurance cover offered by the insurer. Most policies will maintain full cover for a specific timed period from the date on which a property first becomes unoccupied but the time allowed can vary between insurers. It is vitally important that all policyholders check the specific requirements around unoccupied property in their policy conditions.

Once this timed period has passed, insurers may restrict cover to reduced perils or impose additional conditions that must be complied with for the policy to react in the event of an insured loss. If a policyholder does not notify an insurer when a property becomes unoccupied it may be considered as a breach of a general policy condition. It is therefore important that a policyholder notifies us immediately that they become aware that the property has become unoccupied in order that we can advise the insurer and can then confirm any additional requirements or changes to policy terms or conditions.

In these unprecedented times some businesses or property owners might overlook these important requirements.  If you are unsure about the conditions in your policy surrounding unoccupied properties, please do not hesitate to contact your usual Centor Insurance advisor who will be pleased to assist you further.