COVID-19 and lockdown – have you considered your property insurance?

We consider important steps to take in this lock down period in relation to your property insurance.

As the lockdown period continues, it is important to think about the impact it may have on the terms of your insurance cover. You should check individual policies for exact details.

Most insurers are being flexible about periods of unoccupancy and non-trading arising from current Government restrictions in place to limit the spread of COVID-19.  However, this is in most cases subject to the insured taking steps to mitigate the risk of damage to the property during lockdown.

As a landlord, you should notify your insurer if any of your tenants leave their premises unoccupied or cease to trade. Check if you need to take additional steps to keep your cover valid during this time. For example, putting additional security measures in place and carrying out more regular checks of the property. Tenants may want to contact their landlord to ascertain what steps the landlord has taken to maintain cover. 

The key is to maintain communication with insurers and to notify them of any change in circumstances to be sure that future claims are not deemed invalid due to any extended period of occupancy or non-trading.