What is difference between vacant and unoccupied insurance in Australia is degree of emptiness, with vacant meaning no furniture and no one living, unoccupied meaning furnished but no one living overnight, both requiring specialist cover after 60 to 90 days. Vacant home is empty of furniture, personal belongings and occupants, such as new build never occupied, renovation stripped, or house emptied after sale, considered higher risk, so many standard insurers will not cover vacant after 60 days, requiring vacant insurance $1,500 to $2,800 per year for $500K building from Terri Scheer, QBE, with reduced cover excluding theft and water damage, requiring weekly inspection. Unoccupied home is furnished with furniture and belongings but no one living overnight for 60 to 90 days, such as holiday home, deceased estate with furniture, or between tenants, considered lower risk than vacant as looks occupied, so some insurers like AAMI, Allianz, NRMA may extend standard building insurance $1,200 to $1,800 with extra premium 20% to $1,500 to $2,500 if weekly inspection and mail collection, with theft cover may remain if inspected. So difference is vacant has no furniture and higher risk, needs specialist vacant insurance, unoccupied has furniture but no occupants and may be covered with extension and weekly checks, with both costing 20% to 50% more than occupied $1,200 to $1,800, with vacant more expensive and harder to insure than unoccupied.
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