Buildings insurance for an unoccupied property is the same indemnity on different terms, and the terms are where the whole product lives. The sum insured is unchanged, the perils are fewer, the excesses are larger and the conditions are real obligations rather than general advice. Reading the schedule as four numbers and a list of tasks is the fastest way to understand what you have bought.
The excess, which is usually larger and sometimes layered
Unoccupied wordings commonly carry a higher standard excess than occupied ones, and frequently a much larger separate excess for escape of water, which is the peril they are most exposed to. Some carry a separate subsidence excess as well. Reading the excess table rather than the headline excess is the difference between expecting a small claim to be worth making and discovering it is not.
The peril list, which is shorter
Fire, lightning, explosion and aircraft always. Storm, flood and impact usually. Escape of water sometimes, often seasonally restricted or at a large excess. Theft and malicious damage subject to the security conditions. Subsidence frequently excluded. Accidental damage rarely included. Two quotes that both say buildings insurance can differ on five of those nine.
The inspection interval, which is a task with a date
Weekly and fortnightly are the common intervals, monthly on lower risk properties. The record is what matters, because a condition met and not recorded is a condition you cannot evidence. A dated note with a photograph, kept in one place, is enough, and it is what an insurer will ask for first when a water claim arrives.
The sum insured, which does not fall
An empty building costs the same to rebuild as a full one and often more, because deterioration during the vacancy adds work. Reducing the sum insured to reduce the premium triggers averaging on every claim, which is the most expensive saving available in insurance. Index link it and leave it alone.
Questions people ask about buildings insurance for unoccupied property
Why is the escape of water excess so high?
Because a leak in an empty building runs unnoticed. It is the peril most likely to produce a claim and the one insurers most want you to prevent, which is why the excess and the heating conditions go together.
How often do I have to inspect the property?
Commonly weekly or fortnightly, monthly on lower risk buildings. The interval is in the wording and the record is what evidences it.
Is subsidence covered?
Often excluded on unoccupied policies. Where it matters, ask specifically and expect a separate excess if it is available at all.
Can I lower the sum insured while it is empty?
No sensible insurer would advise it. The rebuild cost is unchanged and underinsurance reduces every claim proportionally.