Should You Insure Your Vacant Home?

Should You Insure You Vacant Home?In today’s real estate market, sellers are often left no choice but to move and leave their properties vacant until it sells.

A vacant home is an attractive nuisance that appeals to vandals and thieves. Vacant homes present numerous liability issues that an inhabited home does not. Kids climbing over dilapidated fences only spells danger for the homeowners and they may see a fat lawsuit headed their way. Because of these risks, the homeowners may be surprised to learn that their insurance company can drop their coverage! Here’s how you can insure your vacant home and protect it from the dangers that come with being an “attractive nuisance.”

If your home will soon be vacant, it may be tempting to just leave and not notify your insurance agent of the change in the home’s status. Most homeowners insurance policies have exclusions from coverage for neglect or abandonment of property, meaning that you won’t receive any coverage should something happen to your vacant home.

There is such a thing as vacant-homeowners insurance, which is a specialty insurance that covers your home for a specific amount of time while it’s vacant or until it sells.

You’re going to need the right homeowners insurance to have you covered, even with a vacant home. Contact the independent insurance professionals Perry & Carroll in Elmira, New York for all of your homeowners insurance coverage needs this season.