Thursday, October 17, 2013

An Overview of Vacant House Insurance

What happens if you need to insure an unoccupied house? It may surprise you to find out that your homeowners insurance is not valid once nobody has lived in your house for 30-60 days. Of course, you can pretend that someone is living there, but don't expect the insurance company to help you out if something happens to your house. They will only protect you if you have unoccupied house insurance. But be prepared for sticker shock. In this author's personal case, the insurance company offered a normal homeowners policy for $400 and a vacant house insurance policy for $2,000. You can get vacant house insurance policies from most home insurers as well as those who specialize in insuring vacant homes. Just keep in mind that although a company may specialize in insuring a house under these circumstances, it does not mean that it will be cheap. How can you save some money on vacant home insurance? You can lower the risk to your insurer by installing security systems, making sure that your doors and windows are tightly sealed, and making your house look occupied (for example, you can ask your neighbor to park their car in your driveway).

Rather than settling for the very expensive unoccupied house insurance, if your house is to be vacant for a period of time, you can get a caretaker thru Homes In Transition to occupy and stage the home. This way, you get the normal homeowners insurance rates and sell your home faster.

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