For those of you who cover Business Items under your craft insurance policy (stock, materials, equipment, tools) there is currently an exclusion for damage to any business item or money stored in any building or vehicle which has been left unoccupied, unattended or not in use for more than 30 consecutive days.
We’ve been contacted by concerned clients, who are unable to access there products as a result of Covid-19 Lockdown.
We have now been advised by Hiscox that in light of Covid-19 they are extending the unoccupancy terms to 90 days.
What happens if my premises are left unoccupied?
We normally ask you to tell us if your property is going to be left unoccupied for more than 30 consecutive days. Given the exceptional circumstances at the moment, we are extending this period to 90 days. We recommend to shut off the water supply to the premises, and ensure that any measures to prevent thefts are taken, such as locking away equipment and setting intruder alarms.
As always, if you have any queries on your policy, we are here to help, so please feel free to drop us an email, or give us a call.
Keep yourselves safe and Healthy,
Naomi, Samantha and Ian