The population is getting bigger, but housing the growing population is more challenging – so much so that the Labour government is planning new towns to meet demand.

Meanwhile, probate properties continue to stand empty while the administration of the deceased estate is underway. Even once the grant of representation has been received and a sale can, theoretically, proceed – a slower housing market may well mean the property remaining empty and unsold for longer than expected.

More than 700,000 homes are empty, government figures show; with 264,884 of those classed as long-term empty – unlived in for at least six months. Many are empty because the owners have gone into residential care. Whatever the reason behind a house standing empty, the risks associated with an unoccupied residential property are heightened when the warm weather ends.

We’re now firmly in the wet and windy season when the risks of flooding and weather damage to unoccupied properties significantly increase. Extreme weather and rapid changes in temperature raise the risk of burst pipes and significant water damage to the property.

Other potential problems linked to empty probate properties are squatters taking over, criminal damage, electrical faults, general disrepair and the presence of pests. Thousands of pounds of damage can be caused by any of these factors, and if executors and others legally responsible for the property fail to reasonably protect the property, they could be liable for losses to the estate.

Unoccupied property insurance

With winter approaching, probate lawyers are reminded of Watchman’s unoccupied property insurance product which is designed specifically to cover the risk of unoccupied residential properties.

Watchman offers bespoke and robust unoccupied property insurance. Reassuringly, it is simple to arrange, cost-effective and geared specifically to cover the risk of residential properties left unoccupied after the owner’s death (or where the owner has gone into care).

Importantly, unlike many similar policies, Watchman’s policy usually covers risks including malicious damage and subsidence. The property will need to be checked every 30 days, but this is less onerous than other policies that require a check every 7 days.

Many other unoccupied residential property insurance policies also demand payment of an upfront premium, which can add to any potential cashflow problems. However, with the Watchman policy there is no such requirement – only a small initial deposit is required for cover to be in place. Cover is calculated at a fixed daily rate; and the full insurance premium is then paid on completion of the sale or (if earlier) within 12 months. Cover can be arranged on the same day by telephone from a friendly and knowledgeable team.

Transparency is an important element of the Watchman policy, with no hidden charges or cancellation fees.

Arranging adequate insurance is an important first step, but not the only action that should be taken. Those responsible for the property would be wise to arrange and keep a record of regular practical checks of the property and turn off water, gas and electricity as appropriate.

For more information and a quote, contact us here. Watchman cover can be arranged on the same day by telephone from a friendly and knowledgeable team.