Is Your Home Vacant? You Still Need Insurance
Did you move to a new home, while your old house is still on the market? If so, you may have to update your homeowners’ insurance or buy a new policy. Standard home insurance policies cover occupied dwellings, not uninhabited ones. If your former home has been vacant for a month or more, your current policy may not cover you against losses from damage or theft. Make sure you get enough coverage for your vacant home, when you get home insurance quotes.
Vacant homes
With home sales sluggish around the country, more homeowners are being forced to leave their old homes vacant for longer periods of time. Homeowners may have to move to take a new job or move to a cheaper residence, before they are able to sell their homes. Even if they do find a buyer, completing the sale could take months. Homeowners have to insure their former dwelling, until the deal is final. If the homeowner has to move out before the sale is closed, he may have to either update his insurance policy or buy a new policy to get enough coverage.
Uncovered losses
If you leave your home vacant for a month or longer, your home insurance policy may no longer cover damage from fire, theft, burst pipes or vandalism. From the insurer’s point of view, the homeowner isn’t around to maintain and protect the home. So, the risk to insure your home against losses increases, even if you don’t have many belongings left in your old home. As soon as you know you will be moving out of your house, call your insurance agent. If you need to buy a new policy, apply for home insurance quotes.
New policy
Once you have determined how long you will leave your old home vacant, call your insurance agent or insurer and ask you if can adjust your policy. Be aware that insuring an unoccupied home will be more expensive. However, if you don’t update your homeowners insurance, you will liable to pay for any losses that are no longer covered under your existing policy. Many insurers don’t write policies for vacant homes, so you may have to buy a new policy. Make sure to get home insurance quotes to get the best price and coverage.
Remember when you buy a homeowners or a renters policy, you’re insuring the structure of your home and your personal belongings in your home. Once you have determined the best coverage for your family’s needs, you’re ready to obtain home insurance quotes. Call agents in your local area, contact several insurance companies directly or use InsuranceQuotes.com to instantly get competitive insurance quotes from the nation’s leading insurance providers. Take the time to protect you and your family today.
