General (main property discussion here) - Buildings Insurance

I have recently added a property to my portfolio. This is a property requiring modernisation and will be Let out after completion. I am struggling to obtain buildings insurance due to the fact that it is unoccupied (even though we will be there daily until completed)

I only require cover for the period of modernisation. Will take out a Buy to Let policy with eg Letsure afterwards.

Does anyone know of an insurance company that specialises in this sort of thing.

Regards

Ash

ps, Have now been finally quoted £250.00 for 6 Months. The re-build costs for insurance (as per valuer) £111000.00. This seems high.

Hi Ian, I bought 2 props in Feb both in need of Re-furb/Modernisation (but just habitable). which i done and just took out a normal buildings insurnace.With my policy and i know some of the other policies i have you have between 35-50 days where it can be vacant but after this you need to tell the insurance company that it is not let tenant etc as it will invalidate your insurance.You will need buildings insurance once the prop is completely Re-furbed so why not take insurance out that you will keep straight away? As for £250 for 6 months this is high as i am paying £116 per year for £124k re-build cost.Email me and i will give you the name of my broker i'm pretty sure he will be able to sort it out for you. Cheers Damian

Damian, The premium rates you quote are much better than I'm paying on my BTL's - any chance you could post the contact details of the broker?

Thanks

Steve

Hi Steve

Email me at leedamians@yahoo.co.uk and i will be happy to pass the details onto you.

Regards Damian

Sorry my origianl reply should of read £161 not £116 for £124k