The Cost of Winter on Vacant Properties

With cold weather fast approaching, leading insurance firms are urging customers to prepare for the cost of winter on vacant properties.

It is reported that 1 in 1000 properties will fall victim to burst pipes this winter. An average claim reaches a massive £25,000. A total insurance bill of over £1bn.

Leading insurer AXA has recently published statistics* stating that during the previous two winters, customers were three times more likely to claim against an escape of water claim than theft.

The average cost of a claim is reported to reach £25,000. This highlights a significant risk to property owners. The threat is increased for landlords of vacant properties.

DEX Property Management is warning landlords with vacant property to ensure they are well protected this winter.

As daylight hours and temperatures drop, now is the time to prepare, says Rogier Donkersloot, Managing Director of DEX. “Vacant property is at significantly more risk over the winter months. As cold weather sets in, it can cause water systems to freeze, resulting in burst pipes. The damage can be significant. And the clean-up bill can run into thousands. Not to mention, it can also cause major delays for plans of the property.”

Rogier continues, “One of the most effective ways to prevent such a catastrophe is to place property guardians into a property. Bringing the property back into meaningful use reduces the chance of pipes freezing in the first place, as water and heating systems are in constant use. If, in the unlikely event, anything minor should occur, guardians are on hand to report the issue as soon as it happens. And a member of the DEX maintenance team will be on hand to resolve the issue before significant damage is caused.”

“It’s not the only benefit”, continues Rogier. “Darker evenings often bring an increase in crime and anti-social behaviour. Property guardians are an extremely effective and low-cost deterrent.”