Vacant Home Insurance
What is Vacant Home Insurance?
Vacant home insurance policy is coverage for individuals who are looking for additional financial protection against unexpected events like storms damaging the property while it's empty. Whether or not obtaining this kind of policy is suitable for any particular individual depends on their needs and budget constraints. Ultimately, the decision has to be made by each customer after carefully considering what would be best overall for them and their residence in terms of protection and affordability.
What Does a Vacant Home Insurance Policy Cover?
Our agency places vacant home coverage through a carrier it is appointed with. Coverage options can include property, liability, and loss of rents protection for vacant properties, depending on the carrier and policy.
What Are the Benefits of Vacant Home Insurance?
How Much Does Vacant Home Insurance Cost?
Is A Vacant Home Policy Right For Me?
Frequently Asked Questions
When is a home considered vacant for insurance purposes?
Generally, a home is considered vacant if it sits empty for 30 to 60 days or more, though each policy defines it a little differently. A typical homeowners policy may not fully cover a home once it has been vacated, which is why owners selling, renovating, or settling an estate often need a vacant home policy.
How long does a vacant home policy last?
Policy terms depend on the carrier and policy. We place vacant home coverage through a carrier our agency is appointed with, and we can explain the policy term, what happens if the home becomes occupied before the term ends, and your options when a tenant or you move in.
Does vacant home insurance cover vandalism?
Vandalism and malicious mischief coverage may be available as an option on a vacant home policy, depending on the carrier and policy. It can help if someone intentionally damages the property while it is empty. Because empty homes can attract break-ins and squatters, ask us about adding this coverage when you quote your Inland Empire rental or estate property.
How can I reduce risk while my property sits empty?
Visit or have someone check the home regularly, and keep the yard maintained so it looks lived in. Shut off the water if you can, use light timers, and secure doors, windows, and gates. If the home is near the foothills, keep brush cleared around it. These steps lower the chance of a loss while you sell, renovate, or wait for a tenant.
Disclaimer
Farmers Insurance - Young Douglas provides home, auto, life, and commercial insurance products independently. References to mortgage brokers, real estate agents, or other professionals are for convenience only and do not imply a referral arrangement or financial affiliation.