Vacant/Unoccupied Home Insurance: Do I Need It?
There are various situations in which your home could be unoccupied for a specific duration, and it’s crucial to ensure you have the necessary protection in case of unforeseen damage. Gain an understanding of the distinction between a vacant and unoccupied home, discover the circumstances that may require extra coverage, and explore the reasons behind considering the purchase of such protection.
Vacant/Unoccupied Home Insurance: What’s the difference between an unoccupied home and a vacant home?
A property you possess can be unoccupied for various reasons, and the distinction between an unoccupied and a vacant home significantly impacts the necessary insurance coverage. An unoccupied home is one that is readily habitable at any time, with the owner’s personal belongings, including furniture and appliances, still present, and utilities remaining connected. Conversely, a vacant home lacks furnishings, appliances, and may have disconnected utilities.
Numerous situations can lead to your home being unoccupied or vacant. For instance, during vacations, hospital stays, or work-related travel, your home might be categorized as unoccupied. On the other hand, if your property is up for sale or rent, and you’ve already relocated your belongings, or if you’ve inherited a property but haven’t moved in yet, it is likely to be considered vacant.
Vacant/Unoccupied Home Insurance: Why do I need additional Coverage?
Why should I consider Vacant/Unoccupied Home Insurance? Every situation is unique, but generally speaking, it’s best to make sure you have coverage in the event that damage occurs. For example, if your home is vacant and a pipe bursts, a vacant home can sustain substantial damage simply because nobody is living there to call a professional to deal with the problem.
Vacant homes are also generally more susceptible to theft, break-ins or vandalism, and without the right coverage, your property might not be protected.
One very important fact to keep in mind: if your home is left unoccupied or vacant for a certain amount of time (depending on your insurance company and policy), your insurance coverage may be cancelled or an additional endorsement may be required. These times can vary, ranging from 30, 60, 90 or more days, but you’ll want to consider that most typical homeowners policies won’t provide full coverage for the property once it’s been vacated. You won’t want to get stuck uninsured in the event of a disaster, so make sure to check with your local agent to find out the restrictions for your scenario.
Vacant/Unoccupied Home Insurance: What about Insuring my Vacation Home?
The need for extra coverage when you split your time between a primary and vacation home can vary depending on your insurance provider and the specific policy you have in place. It’s worth exploring options such as seasonal or vacation home coverage, but it’s also essential to consider additional protection for your unoccupied primary residence. Given that one or both homes may be unoccupied at different times throughout the year, it’s crucial to ensure that both properties are adequately safeguarded.
Get the coverage that’s right for you
Whether you’re preparing for an extended journey, contemplating relocation, or considering the purchase of a second home, it’s essential to ensure that you have the appropriate insurance coverage in place to safeguard both your residence(s) and all your possessions. Don’t hesitate to get in touch with your local insurance agent to verify that your protection is comprehensive. They are eager to collaborate with you in customizing your coverage to precisely match your specific requirements, and they will readily address any inquiries you may have pertaining to your individual circumstances.
Vacant/Unoccupied Home Insurance: Connect with an Agent
We encourage our valued customers to reach out to A Plus Insurance for any insurance-related advice, questions, or to obtain free, quick, and hassle-free insurance quotes. Your peace of mind is our priority, and our team of dedicated experts is here to assist you every step of the way. Whether you’re seeking guidance on coverage options, have inquiries about your current policy, or are exploring new insurance opportunities, we are ready to provide you with the information and support you need. We work with several large companies, such as Progressive, and National General (All State), to provide you with multiple quotes. Don’t hesitate to call us today; we look forward to serving you and helping you make informed decisions to protect what matters most.
Last Updated on by Lauren Mckenzie