What Is Vacant Property Insurance?
Vacant property insurance, also known as vacant home or unoccupied home insurance, is a specialty type of insurance that can provide financial protection from damages or loss to a home that is uninhabited.
It is important to have a dedicated vacant property insurance policy as a typical homeowners insurance policy will not cover vandalism, fires, liability and other claims on a property that is unoccupied or vacant. This means that if you leave your home for several months and a fire breaks out, vacant property insurance could provide coverage where a standard homeowners policy would not.
Our Vacant Property Insurance Coverage
You can purchase vacant property insurance as a separate policy or an endorsement.
It will typically cover damage from perils such as:
- Fire
- Wind
- Hail
- Lightning
- Explosions
- Vandalism
- Theft
Our vacant home insurance policies come with flexible terms so you can get coverage for the amount of time that you need.
Who Needs Vacant Property Insurance?
If you intend to leave your home unoccupied or vacant for a period of 30 days or longer, you’ll need vacant property insurance. That’s because most insurance companies will deny any claims that are made if a home has been left alone for longer than 30 days.
Here is a look at some of the scenarios where vacant property insurance makes sense:
- You regularly travel for weeks at a time
- You have just purchased a home but will not be able to move in for several weeks
- You are remodeling a home and cannot live there while renovations are taking place
- You normally rent out the home but are currently between tenants and don’t expect to find one right away
- You own a vacation home that you only use a few times per year
- You are selling a house to close an estate
- You are on active-duty military service
- You’re traveling for an extended time
How Much Does Vacant Property Insurance Cost?
Vacant home insurance policies can be more expensive than traditional home insurance policies because a vacant home represents a greater risk than one that is occupied year-round. With no one there keeping an eye on the property, there is a higher chance of damages related to vandalism and theft. In addition, without anyone performing regular upkeep and maintenance, the risks of fire and water damage also rise.
Get In Touch With The Property Insurance Specialists At Burton & Company
Your property might be uninhabited, but that doesn’t mean it has to be unprotected. Talk to the property insurance specialists at Burton & Company today by calling (888) 652-1325 or requesting a quote online to find out how we can protect your vacant home from the unexpected.
