There are many reasons why a home you own or manage is vacant: maybe it’s a vacation home you use only a couple of months each year, or perhaps is a property you rent out. Regardless of the scenario, you should always consider purchasing Vacant Home Insurance whenever your home is empty and not in use.
What Is Vacant Home Insurance?
Vacant Home Insurance is a policy that covers damage or loss of a property that is considered vacant.
While the specifics may vary depending on the carrier, a home is considered vacant if it’s empty for a period of time that ranges between 30 and 60 days.
This type of insurance covers some of the risks that owners of vacant homes face most often, including:
- Leaking pipes
Some policies include protection against theft and vandalism as a standard coverage, while others offer it as an additional endorsement to your base policy.
If you are planning to vacate a home or leave it unattended for an extended period of time, check with an insurance agent you trust to ensure that you have the right coverage in place.
Why Buy Vacant Home Insurance?
The reason for purchasing Vacant Home Insurance is quite simple: Most Homeowners Insurance policies include vacancy clauses.
Simply put, this means that your typical Homeowners Insurance doesn’t cover your home when it’s vacant.
The reasoning is that vacant homes are more vulnerable to many risks, including vandalism or theft. Think, for example, what would happen if a pipe bursts in a vacant home. Since no one is there to notice it, the damage will be more severe than in an occupied home.
Unfortunately, not everyone knows about vacancy clauses and many owners of vacant homes are taken by surprise when they are left on the hook for any damages or losses.
Don’t let this be your case! Contact RF1 Insurance Services today and breathe easy with high-quality, affordable Vacant Home Insurance.
RF1 Insurance Services: Vacant Home Insurance in Ontario, California
Looking for Vacant Home Insurance you can trust? Our friendly experts at RF1 Insurance Services stand ready to meet all your commercial and personal insurance needs.