Many insurance companies don’t like to cover a vacant home because it is vulnerable. Vacant homes are more likely to suffer certain kinds of damage, such as a break-in, or damage that grows to a large scale from something like an unattended water leak.
When a home becomes vacant, a standard Homeowners Policy may give the carrier the right to cancel mid-term, lower coverage levels, or even deny any of your claims.
That’s why you need a policy specifically written to protect you from the risks of owning a vacant property. Including some of these common circumstances:
- You own rental property and are between tenants
- You’ve moved to take a new job, but your house is unsold
- A property is undergoing renovations
- You are preparing to sell the home
To learn some of the key terms for insuring the place you live, view the vocab list on our Homeowners Insurance page.
Can this policy cover my personal belongings inside the home if it is vacant?
Yes, there are a couple of options we can walk you through, like doing a Vacant Property Policy that includes Personal Property Coverage. Talk to one of our agents today to get a quote.
How long does the coverage last?
We typically offer 3, 6 & 12 month options. However, all policies are customizable, so give us a call to talk about what you have going on.
Do I have to Notify You When I Move Out?
Yes, as demonstrated above, you must notify your agent when you change residents so that your current property policy can be converted from “Owner Occupied” to a “Vacant Property.” Plus, we can then look into what you will need for your next dwelling.