Unoccupied property insurance

[thenortherner]

I'm looking to take out a specialist buildings and contents insurance policy on behalf of my mum - I've power of attorney - to cover her home. Unfortunately earlier this year she's gone into a care home with Alzheimers.

Oddly enough it looks like the best decision financially is to leave the property empty and unlet and not to sell, so it's likely to remain empty for a few years to come.

I've dealt with a couple of brokers and both have come back with policies with Prestige Home Insurance - their office looks to be based in an ex-war zone in Belfast, and Midas Underwriting. Both are backed by major underwriters though.

Both insurance companies are littered with damning reviews online so I'd rather avoid. The brokers say that this sort of policy is so specialist that these are the only real choices.

Has anyone any recommendations for a decent insurer which would cover this sort of need?

Thanks in advance

[thenortherner]

Thanks all.

We'd appointed a solicitor to complete the deferred payment agreement etc with us, and also look through which benefits she'd be entitled to or not depending on whether we rented, sold or left unoccpied. By selling and having cash in the bank or by letting and having an income, we'd lose out as many of the entitlements are means assessed in terms of income or cash in the bank but do take into account the home.

The whole thing is a nightmare and I'm convinced set out to be as confusing as possible so people just give up and probably end up making the wrong decision out of bewliderment.

Just got a quote from Towergate on behalf of Royal Sun Alliance - £900 vs around £250 for the other mentioned insurers.

But what do you do? Peace of mind is worth another £650 a year?

[thenortherner]

Grandad Gaz said:

thenortherner said:

I'm looking to take out a specialist buildings and contents insurance policy on behalf of my mum - I've power of attorney - to cover her home. Unfortunately earlier this year she's gone into a care home with Alzheimers.

Oddly enough it looks like the best decision financially is to leave the property empty and unlet and not to sell, so it's likely to remain empty for a few years to come.

How does that work then. Don’t you have to sell to pay care home fees?

My mum is in a care home with dementia. If anything happened to my dad, who is just about managing at home, then we would have to sell it to pay for her care.

There's a deferred payment agreement set up against the home for each week of care.

You can avoid a deferred payment scheme by paying each week, presumably through the funds from a house sale.

Or you can let the property with permission when taking out a deferred payment scheme.

Benefits and independence payments etc are means tested dependant on type. We were advised that when carrying out the affordability test when it came to the deferred payment agreement, that cash in the bank and / or income from a rented property would be taken into account and lead to an increased personal contribution/deferred payment.

So the house will remain empty in our case.

[thenortherner]

Thanks for the replies everyone.

Insurance is one of those things in life that in my experience - including a recent flood to my home (my fault) - isn't to be fked with or skimped on.

We'll be going for Towergate's recommendation of a Royal Sun Alliance policy despite the additional cost.

Fair point about the bad reviews though. That said, many were just critical of poor communication/phones not being answered/general heal dragging etc.

This is the office of Prestige Insurance. An ironic location.

[thenortherner]

Freshprince said:

You may also be liable for additional unoccupied property CT at 100%.

I thought so but apparently it's exempt from council tax because of the cirumstance.