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When a house is unoccupied, it has different insurance coverage needs than when someone is living there. This situation arises frequently when an investor is buying and selling homes, when a landlord is between tenants, or when the owner has moved out but has not yet completed the sale. BestRate Auto Insurance, one of the most trusted and experienced insurance companies in East-Central Georgia, explains what vacant property insurance is and what it covers.

What Is Vacant Property Insurance?

Because vacant houses are at greater risk for theft, vandalism, and even storms or fire, if you leave your home vacant for an extended time—often 60 days, though it varies by insurance company—you could void your homeowners insurance policy. The insurer could cancel coverage or deny a claim. A vacant property policy, on the other hand, takes into account the different risks a vacant house faces. Note that insurers differentiate between "vacant" and "unoccupied." A vacancy indicates few, if any, personal belongings are present, while an unoccupied home is ready for occupancy as soon as the owners return. The dwelling must be in good repair, and the coverage applies to nearly any residential structure—even anchored mobile homes.

What Does Vacant Property Insurance Cover?

Insurance companiesCoverage varies by insurance company, but in most cases, it protects against perils such as fire, storms, falling objects, and other hazards included in a homeowners policy. Floods, mudslides, and earthquakes are not covered, though flood insurance can be purchased separately for an additional amount. Some insurers cover vandalism, while others do not. In general, vacant property insurance is costlier than coverage for occupied homes, and some insurers do not insure vacant homes at all.

The information above should help you understand what vacant property insurance is and whether it's right for you. To request a quote from an experienced broker, contact BestRate Auto Insurance, with locations in Statesboro and Vidalia, GA. They are also the premier auto, motorcycle, boat, and homeowners insurance company in the region and offer comprehensive, personalized service to all clients. Visit their website to view a map and business hours or call (912) 489-5942 to learn more about your options. 

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