Vacant Home Insurance
When You Need Unoccupied or Vacant Home Insurance
You own a home and no-one lives in it. Here’s a surprise: It’s likely not protected by your existing homeowner’s insurance policy. Yet it’s more vulnerable to damage than ever. What should you do?
Vacant home insurance or unoccupied home insurance is your solution. But what’s covered and what’s not? What level of protection should you buy? And how can you be sure all the risks are covered, and that you got a good deal on the premium?
In the Philadelphia Metro area, Pennsylvania Insurance Network has all the answers you need about unoccupied home insurance. And because we’re an independent agency, not tied to any particular insurance carrier, we can shop around for exactly the right coverage at highly competitive prices.
Empty Property Insurance in a Nutshell
There are all sorts of reasons why a home may be unoccupied. For example, it could be listed for sale after the owner moved out. It could be in the process of being remodeled. Or you might go on an extended trip or vacation.
In some cases, the home may be entirely empty of personal possessions but in others it could be full of personal property.
When you own an empty property, it’s more likely to be damaged, vandalized and burglarized. And, unless you’re keeping watch on it, it could be a while before you discover what’s happened, allowing things to get even worse.
That’s why you need unoccupied or vacant property insurance. Here’s what you need to know:
- If you have a homeowner’s insurance policy covering the building, this probably will protect your home for up to 30 to 60 days after the house, condo or apartment becomes vacant.
- If it’s likely to be empty for more than this, you need unoccupied or vacant home insurance. It may be provided as an endorsement to your homeowner’s insurance or as a standalone policy.
- Insurance companies usually distinguish between an “unoccupied” home, meaning it’s furnished, and a “vacant” home meaning it’s mostly empty. Vacant home insurance is generally the more expensive of the two.
- Your policy can include coverage for:
- General liability for protection against lawsuits if, for instance, someone is injured or their personal property is damaged during an accident while on the property.
- Damage to the home, through perils like fire, lightning, explosion, hail or wind storms.
- Vandalism and crime. For example: if someone breaks in and steals items.
- You’ll get a full insurance payout up to the total dollar value you took out if your home is totally destroyed. Coverage for partial losses usually reflects items’ current cash value.
If you own property to rent, vacant home coverage may be included as an endorsement to your Landlord Insurance policy.
And if you own two homes and use each one at different times of the year, we can cover both through a part-time residency homeowner’s package.
How Pennsylvania Insurance Network Helps You
Flexibility is the key to our service for unoccupied homes. We’ll customize an insurance plan that takes account of why the home is empty and what’s inside. That way, you don’t end up paying for coverage you don’t need.
But we do much more.
- We’ll check your existing homeowner’s insurance policy and let you know what it does and doesn’t cover when the home is empty, and we’ll tell you about the most effective way of protecting it.
- Tracking down a reputable insurance. Not all companies — maybe even the one that provides your homeowner’s insurance — offer insurance for an empty house.
- Ability cancel at short notice without losing money. Useful, since you may not know how long the home will remain vacant for.
- We may be able to get valuable premium discounts, for example if you have installed security systems or use the services of a house-sitter.
- We can provide the fastest possible coverage — just send a photo of the front and back of the property and we’ll get you covered.
Get A Free Quote Now
If your house is empty or going to be in the near future, speak to Pennsylvania Insurance Network’s experts for guidance on your coverage needs.
We can give you a fast and free quote, without any commitment on your part.