Why You Need to Vacant Home Coverage
If you’ve purchased a home, but no one will be occupying the building for a matter of days, weeks, or months, you might not know that regular home insurance coverage won’t offer full protection while the place is unoccupied. An empty house requires additional insurance as it is at greater risk for vandalism and/or fire (since there is no one home to alert authorities in the event of a problem).
Keep Coverage Consistent
Simply put, you will need what is known as vacant home coverage or vacant home insurance. This keeps your investment safe for as long as the home is unoccupied, with full coverage just as you would regularly have in place. Whether you plan to live in the residence or plan to rent it to tenants, you absolutely must have this special insurance while the house is empty in order to avoid liability. This is true for both homes and rental properties alike.
Make Sure the Home Empty
Regular inspections of an unoccupied property are a great idea. It’s important to be aware of any situation in which someone might be squatting in the home or using the facilities there without permission. Taking the time to make periodic visits will help to ease your mind and bolster your vacant home coverage, as you can let the insurance company know that you’re on top of the situation.
Make sure to cover your assets with proper insurance for any unoccupied property!