Most standard homeowners insurance policies do not cover vacant properties, despite the fact that vacant homes and buildings are a common occurrence in many neighborhoods.
You might be surprised to learn that an insurance company could cancel your policy if a dwelling you own becomes vacant. Empty homes are riskier to insure because they are considered an “attractive nuisance” that appeals to vandals and thieves. Vacant homes also present numerous liability issues, such as the risk of injury to trespassers.
As a homeowner looking to insure a vacant home, you typically have two options: buy an endorsement to your existing homeowner’s policy or purchase a separate vacant-home insurance policy. We can place a short term policy on your vacant dwelling that will protect your investment until it sells or becomes occupied.
If your home is soon to be vacant, it’s important to notify your existing insurance agent of the change in the home’s status.