Insuring Vacant Properties
Are losses to your home covered if your home is vacant?
The answer? It depends. Most homeowner policies contain exclusionary language for losses that occur when a home is deemed vacant. Typically a home is considered vacant if unoccupied for more than 30 to 60 days. The definition can vary by carrier.
Why? A vacant home is more susceptible to a loss because no one is there to prevent or mitigate it. Simple tasks associated such as making sure your pipes are protected in the winter months and not subject to bursting, fixing broken windows and maintaining security systems that could deter vandalism are three ways that homeowners can help prevent loss or control damage when a home is occupied.
If your home is going to be left vacant for the short, or even unintended, long term, there are simple steps you can take that may make your vacant property more appealing to insurance carriers.
If you take some specific actions, such as leaving personal property in the home, regularly checking on or having someone check on the home at regular intervals, your carrier may determine that your home is not vacant as defined in their policy. If not, you may need a separate insurance policy.
You have options.
Koenig & Strey Insurance Agency works with a variety of insurance carriers who may be able to offer you a homeowner’s insurance policy that includes coverage for the times that your home is left unattended. Call us today to discuss your options.