Published at Wednesday, April 04th, 2018 - 19:50:36 PM. Unoccupied Home Insurance. By Durand.
Homeowners companies are reluctant to offer insurance coverage on a home that is considered unoccupied or vacant. More than half of the homeowners companies we surveyed will not even take the risk on a vacant dwelling by offering insurance, even for "customers" that have been insuring with them for many years. Coverage will end, not be renewed, or will be drastically reduced after a home is not occupied for as little as 30 days in many instances. In almost all cases we have seen, a regular homeowners' insurance policy will not provide full coverage after 90 days of vacancy. In some instances, all cover can be lost. A vacant dwelling policy will need to be put in place.
You need a vacant home insurance policy. The best place to start is to ask the agent that wrote your homeowners insurance policy to write a vacant homeowners insurance policy. If that agent cannot help, you will have to contact an independent insurance agent that offers these types of insurance policies. Over the past few years insurance carriers have developed policies specially designed for a vacant home. Most of the companies that will underwrite a vacant home are not household names, but little known specialty insurance companies. These companies offer insurance products that are not written by your main stream property and casualty insurance companies. These type policies are offered through independent agents. Okay so how do you proceed?
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