Vacant Home Insurance

Insurance companies use different formulas when deciding what you pay so the price on a policy will vary a great deal among providers.

Vacant home insurance. Whether you re waiting for a home to sell looking for the right tenant or doing renovations owning a vacant property comes with special risks. For example if you leave your home for a few months and there is a fire unoccupied and vacant home insurance would provide coverage where your standard homeowners policy wouldn t. Vacant home insurance costs anywhere from 50 to 150 percent more than traditional homeowners insurance premiums for the same property.

We accept vacant homes valued up to 1 million and there is no restriction on the age of the home. In addition to basic vacant home insurance coverage you can add coverage for attached structures or personal property such as lawnmowers and snow blowers used to maintain the property. The us assure vacant property insurance product offers coverage for unoccupied homes and commercial vacant buildings.

We also sell homeowners and owner occupied policies that cover the following kinds of properties. In fact some insurers won t cover them at all. The best way to save on home insurance whether you re looking for coverage on a vacant home or buying homeowners insurance standard policy is to comparison shop.

Vacant home commercial building insurance. Homes in the name of an estate. What you need is a policy that is specifically written for the risks.

A little known fact is that most homeowners insurance policies do not extend coverage on a vacant home for more than 30 days. The increase in premium is directly related to the increase in risk homes left unattended face including the high probability for vandalism vagrancy theft and weather damage. Business investors landlords and other owners of residential and commercial property often find their investments unoccupied during tenant or ownership transitions or even renovation.

Some companies offer insurance for vacant homes as an addendum to an existing homeowners policy other insurance companies are hesitant to provide coverage to vacant homes due to the many risks they face so you may need to shop around for specialty coverage. Don t wait for a vacant home to be vandalized before checking your insurance policy. But farmers offers insurance options and features that can provide coverage for vacant property.