What Is Vacant Home Insurance?

A house may become a vacant property for a variety of reasons. But regardless of the situation, a standard homeowners policy typically will exclude coverage for property damage, theft, and other events that occur at a home left unoccupied for months. The Fred C. Church team shares information about a lesser-known insurance product, called vacant home insurance, that is designed specifically for protecting these types of properties and their owners.

When do you need vacant home insurance?

While some home insurance companies consider a house to be a vacant property if no one lives there for more than 30 days and there are no belongings (or very few) inside, this time period varies widely across the industry. It’s important to check with your carrier on the timeframe they use to define if a home is a vacant property.

Some of the most common reasons a house becomes a vacant property are because the homeowner:

• Moves out of their house before it’s sold.
• Rents their house, and it’s unoccupied in between tenants or during off-season.
• Inherits a house.
• Owns a vacation or second home that is empty for months at a time.
• Undertakes an extensive renovation and has moved out while the improvements are being made.

In these scenarios, a homeowner may need to get vacant home insurance to ensure there are no gaps in coverage if their property is damaged, burglarized, or vandalized.

So, if you anticipate being gone from your home for longer than a month for any reason—even if you’ll be leaving some items in your home—we encourage you to start a conversation with a Fred C. Church insurance professional today. We will help make sure that you have the appropriate home insurance coverage in place.

What does vacant home insurance cover?

A vacant home is a vulnerable home. Without someone staying at your house, the risk increases for a break-in, water damage, a pest or rodent invasion, and more. Plus, if an issue does arise, there is no one around to address it and make sure it doesn’t become a major disaster.

Because of this higher level of risk, most insurance companies won’t extend standard home insurance coverage to a house that has been left empty for several months. If there is going to be a period of vacancy at your home, it’s essential to make sure you have the right coverage just in case an issue occurs.

With vacant home insurance, you typically are protected against damages arising from the following types of events:

Some insurance providers also offer the option of including liability coverage in your vacant home insurance. If someone injures themselves on your property while it is vacant, this is important protection to have as it may help safeguard you and your assets from the financial repercussions of a potential lawsuit.

How do I get vacant home insurance?

Depending on your insurance company and your particular situation, you may be able to add this coverage to your current homeowners policy via an endorsement. Otherwise, you’ll likely have to purchase it as a separate policy. If your insurer requires you to get a distinct vacant home insurance policy, you will typically cancel your current homeowners policy so you’re not paying for duplicate coverage.

Vacant home insurance also generally comes with flexible terms, ranging from 3 to 12 months, with some policies renewing automatically every few months and others requiring a full year’s commitment. Also, you may have to pay upfront for your coverage, but you’ll be able to get a prorated cancellation amount if you end up moving back into your home or selling or renting it before the end of your policy term.

If you have more questions about vacant home insurance, you can lean on the team at Fred C. Church to be your local, knowledgeable resource. We will help you figure out if you require this coverage and, if you do, check whether your current home insurance company offers it as an endorsement or a separate policy.