Owners and investors who may be leaving their properties empty in the current Coronavirus crisis risk having their insurance invalidated.
High-end property consultancy Aykroyd & Co says this may apply to well-heeled individuals who have chosen to stay in one of their own properties, or to investors yet to find tenants.
“We have had a number of calls from people worried about leaving their London houses, or – in cases of those who live abroad – concerned about being cut off from their London properties” says the firm’s head of property management Natasha Willis.
“Many people don’t understand the risk they take leaving their valuable properties vacant” she continues.
“If something happens and it can be shown the property has been vacant and unmanaged, there’s a very real chance insurance won’t cover the damage. Depending on the value of the contents, the policy will state how often someone needs to visit the property if it’s left unoccupied for long periods of time. It’s normally about every two weeks.”