Vacant Home Insurance
Insurance Companies have significant coverage limitations once a home or building becomes vacant or unoccupied for specific time periods. Unless you have a policy specifically developed to insure vacant homes, you may be seriously limiting your available coverage. We can provide Vacant Property Insurance in most States.
What is Vacant Property Insurance and What can it Cover?
- You have the option to have Replacement Cost Coverage or Actual Cash Value Coverage
- Deductibles usually start at around $500-$1,000 and go up to over $10,000 in some cases
- Be sure to include Vandalism and Malicious Mischief Coverage (VMM)
- Water Back Up of Sewers and Drains Can be Included with Select Insurance Companies
- When endorsed, coverage for renovations can be included on the vacant home policy.
- Vacant Insurance can include homes deeded to ‘The Estate of’…
- Unoccupied Homes and Homes that are listed for Sale may need Vacant Property Insurance
- Many additional coverage considerations are available.
Double Check Your Vacant Property Policy Coverages and Limits
Unlike some of the better home insurance policies available, an unendorsed Vacant Home Policy could leave much coverage to be desired. Below you will find a list of some common items to consider when looking into or purchasing Vacant Property Insurance.
Every time our agency has seen a total loss due to a fire, 100% of the time the base building limits of insurance are completely depleted, used up entirely. Be sure to understand the difference between Replacement Cost Coverage and Actual Cash Value Coverage and which one is included on your vacant property insurance quote or vacant home policy.