Don’t Be Left With an Empty Insurance Policy

If you haven’t read your homeowners policy or never experienced owning a vacant home, you may not be aware of an empty insurance policy. A better illustration may be Swiss Cheese…because an empty home can have some large gaps in a homeowners policy.

Properties can be uninhabited for a number of reasons:

• You’ve moved and the home is for sale with a Realtor.
• You’re cleaning and making repairs in-between tenants.
• You or a relative have moved into residential care.
• Divorce
• Death

It’s unfortunate, but an idle home can attract the wrong attention. Consequently throwing a wrench in your plans or costing you money.

If your home sits vacant for 30 days (60 days with some insurance companies) you will lose coverage in some areas.

Some of the common issues with deserted homes can equate to exclusions in your home insurance policy if it has exceeded the number of days it’s been vacant.

Every home insurance company may have different limitations/exclusions when it comes to empty homes. You will need to talk with your agent or read your policy to know the specifics that apply to you.

Vacant or Unoccupied?

What about the couple that spends the winter in Arizona? Or the person who frequently travels for work?

There is a differecet between a vacant home and an unoccupied home.

A vacant home is one where the owner is not intending on living there anymore. Furniture has been moved out (or in the process of being moved out).

An unoccupied home is one where the owner is planning to come back. They have an intended time frame they will be home. The home is still furnished and utilities are on.

Worry No More

We work with owners of vacant homes often. Allowing you to focus on what matters most in your life.