Insurance – Are You Sure Your Vacant House Is Covered?

By Author: jack smith
Total Articles: 208
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Being a homeowner involves getting homeowner's insurance. When choosing which company or type of policy that will cover your home in the best way. Even though having the house be vacant is not usually one of the first considerations for what type of insurance to pick, there will be times when the house may be vacant. Not having your vacant home covered by insurance can be a dangerous situation. Some of those can include people breaking into the house and actually staying there, or what is termed “squatting”, and vandalism or destruction of property. Vandalism can include much more that spray paint graffiti, and can become very costly to deal with. This can be especially true if the property is located in a harsher part of town.

Different areas have their own laws on how to handle squatters as far as getting them back out of the house. The problem is when looking at the damage they are able to do, if your policy does not include a vacant house, that damage may have to be paid right out of your pocket. This amount could reach into the thousands, depending on just how bad the final inspection will be of the premises ...
... after they are gone. Another area that may not be covered is vandalism. When someone comes and defaces or destroys your property when it's vacant, you are responsible for fixing it. If you find out at the last moment that you have no recourse but to pay for it out of pocket, you may realize it could be time to sell the property over to an investor who is able to pay the costs of repair.

When shopping for your homeowner's insurance policy, make sure that it covers vacancy of the home. If you are an owner who is renting out the home, there will be quite a few times that the home will be empty. You will need to make sure that the coverage is there. A good way to compare companies is to determine all of your needs first. Even if you live in an area that is not prone to flooding, recent severe weather has shown many owners that they may want to add in that type of coverage. Finding a good plan which will include covering a vacant home is one way to make sure that any damage that happens will be able to be repaired and taken care of.

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