Vacant Home – Covered or Not?
If you purchase a home prior to selling your current home, you may be faced with insurance coverage issues. Once a home is considered vacant, companies vary with how they provide coverage. Some companies consider a home to be vacant as soon as 30 days, while most consider a home vacant after 60 days.
Recently, we had to research for a customer the definition of a vacant home. We went to the underwriter with one of our insurance company and they referred me to claims. When I spoke with the Property Claims Manager with the same company, the first answer I received was it was subject to adjuster interpretation. After pushing for a more concrete answer, I was told if there was a bed, food in the refrigerator, utilities were on at the home and the person can show they slept there at least one day in the past 60, there would be coverage. Here’s the danger though. This was the answer from one company and it really wasn’t “cut and dry.”
Companies also very as to how they treat coverage once a home is determined to be vacant. Some companies say flat out, no coverage. Personally, I don’t think a vacant home is any more likely to acts of God than an occupied home. Most companies take away coverage for perils such as vandalism and water.
So, if your home is vacant for 30 days, please contact Preferred Guardian Insurance. We will research with the insurance company and if coverage is jeopardized, we offer insurance for vacant homes.