Home cover catch-22

By THIS IS MONEY
Updated:

 

I have just bought a new home but have been told by my insurance company that I must move in within 30 days or my policy will be invalid. However, I have still not sold my current home and if I move into my new home and leave my current home empty the policy on that will be invalid after 30 days. Is there a way out of this? HH, Halifax

Peter Staddon of online broker insuresupermarket.com says: Interesting question. Many policies have an unoccupied condition, which means that if it is left without occupancy for thirty days then different terms would apply.

This may mean that a person has to sleep overnight at the premises to comply with the terms of the policy. Moreover, the property has to be fit for habitation, i.e. carpets, beds, settee etc.

If you're not in a position to move in then you should advise the insurance company who may ask for the property to be visited on a regular basis to ensure all is OK. Plus as the weather is getting cold they may insist that the heating is kept on or for the water system to be drained down.

This is Money says: We published a detailed report on this very subject not long ago. Click here to see it.

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