Vacant Home Insurance

Need to insure your home when you don’t live there? That’s called Vacant Home Insurance.

Frequently Asked Questions About Vacant Home Insurance:

What is Vacant Home Insurance?
It’s homeowners insurance to cover your property when it is not your permanent residence. If you’ve moved and the house is vacant while up for sale or you have a vacation home that you visit every summer you need vacant home insurance.

It’s an insurance policy that covers the dwelling only unless you add various riders to cover specific belongings. The policy usually includes a range of liability insurance, so if someone breaks into your home and gets hurt in the process they can’t sue you. Not that a burglar should be able to sue you, but it happens.

As with regular homeowners insurance, the policy comes with limits of how much loss is covered and your deductible of choice can vary the cost.

How is Vacant Home Insurance Different from Regular Home Insurance?
Regular homeowners insurance is designed to cover you and your belongings in your permanent residence. If your home burns to the ground you can rebuild, pay to have a place to live, and buy new possessions.

Vacant home insurance doesn’t offer the same coverage. Your belongings are usually not covered, and coverage to pay for rent or a hotel while your home is rebuilt is not included.

Doesn’t my regular policy cover me if the home is vacant?
A normal homeowners insurance policy allows the home to be vacant a certain period of time – usually 30 to 60 days – before the policy is canceled. That means if you move and leave a home behind you need to buy new insurance to cover the home until it is sold.

How Expensive is Vacant Home Insurance?
The good news is, Total Coverage Insurance can provide you with quotes from multiple companies. You’ll find a vacant home insurance policy is about three times as expensive as a regular homeowners policy. This is often overlooked when people are doing the math on total costs of leaving their home behind or unrented. This number often doesn’t show up in calculations, and could end up costing you $100 per month extra than you had planned.

What if I’m renting the house?
While vacant home insurance can be triple cost of a normal policy, a landlord policy might only cost you about $200 more per year ($16 per month).

Can I cancel the policy?
In most cases, you can cancel a vacant home insurance policy at any time, but you may not get all of the premium back if you only keep the policy for a short time. Normally if you order insurance today and cancel tomorrow you get nearly all of the premium back. This is largely because you could order vacant insurance today and sell the home tomorrow (and need to cancel the policy). Many niche firms don’t do enough volume to be able to eat costs from ordering and canceling policies all the time. Total Coverage Insurance reviews options from numerous providers to find the best solution for your situation.

Who are the Most Reputable Vacant Home Insurance Companies?
This is where we can help! Unlike car insurance there aren’t advertisements on television all the time talking about low rates and great coverage for vacant homes. A Google search may only result in a few options, leaving you to take what you can get. Total Coverage Insurance will help you pick the best option from a much bigger pool of providers. We have experience in these matters, make the process simple and can even help you file a claim.

Total Coverage Insurance can give you assistance in making the right move on your home insurance while you’re moving on with your life!