Selling Your Home? Secure It With Vacant Home Insurance

Your empty home poses liability and property damage risks.

In today’s real estate market, some homes often remain unsold for months on end when the sellers have no choice but to move and leave their properties vacant.

While checking your homeowners insurance may be far down your list of things to do while packing and moving, it’s imperative that it is not missed. Empty and vacant homes are riskier to insure, and many homeowners may be surprised to learn that an insurance provider could drop their homeowners policy coverage if they are left empty for some time.

The Risk
A vacant house attracts thieves and vandals. From looting to partying in a vacant house, the homeowner is still responsible for all damages. Kids climbing over a tall fence could get hurt, or fall and slip on the home’s property. Like it or not, but you can still get sued for liability damages from the careless trespassers.

Your Options
In some cases, insuring a vacant home is as simple as purchasing an endorsement to the existing homeowners policy.

Vacant home insurance is a special policy that is designed to protect your home from the possible damages associated with being vacant, namely theft, liability, and more perils. It will cover the essentials, such as protection from fire, lightning, wind, explosion, and others.

Within this coverage, there will often be an Agreed Loss Settlement, so that if your home is destroyed by an insured loss, you receive the full amount of agreed upon insurance for your home. In the event of a covered loss, there will be an Actual Cash Value to cover the cost to repair and replace your damaged property.

Are you moving home, leaving your unsold property vacant? Contact the professionals at Mayer Insurance to get started on your tailored homeowners insurance coverage in Apple Valley, Minnesota.