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Vacant Property

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We offer flexible payment plans to fit any budget needs.

We offer flexible payment plans to fit any budget needs.

We've helped over 60,000 customers buy more affordable insurance coverage.

We've helped over 60,000 customers buy more affordable insurance coverage.

We shop your coverage with up to 35 national carriers.

We shop your coverage with up to 35 national carriers.

We shop your personal insurance to save you time and money.

What is Vacant Property Insurance?

People own unoccupied homes for different reasons. You may be living elsewhere while doing renovations, or you may be traveling for an extended period of time. You may have put your home on the market and left it vacant after you moved into a new house. If your home is unoccupied, certain coverages may be limited on your homeowners policy. At that point, you may need vacant home insurance to cover your liability risks. Vacant properties are highly susceptible to trespassers, theft, vandalism, insect infestations and frozen/broken pipes. Your property will qualify as vacant if, for instance:

  • It is vacant for a minimum of three months (up to 36 months with some carriers/types of properties).
  • It is an unoccupied home/property actively on the market.
  • It is a property in foreclosure.
  • It is vacant and under renovation.

Some carriers will over additional coverage for vacant homes under an existing homeowners policy. Consulting with a personal lines specialist is the best way to know your options and find the best coverage.

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Find your lowest
vacant property rates

We take the time to make sure your property is evaluated and risk-accessed properly, then we get to work finding the lowest rates available for your insurance coverage.

  • National vacant property specialists.
  • Licensed throughout the United States.
  • Multiple carrier discounts available.
Compare quotes from over 35 carriers.

Compare quotes
from over 35 carriers

Once we've got your best quotes back from our carriers, we take the time to help you understand your options and take the next steps to get you covered quickly.

  • Easy and fast quoting and binding process.
  • We'll help you insure both short-term and long-term vacancies.
  • We continue to follow up after binding; our service to you never ends.

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Vacant Property Insurance
We shop your personal insurance to save you time and money.

Why Do I Need Vacant Property Insurance?

Leaving your vacant property uninsured or underinsured is not a safe risk. Theft, vandalism and even insects and pests are fairly common exposures on vacant properties. Most homeowners policies either don't cover vacant properties or have very limited coverage. Vacant property insurance may be a wise investment if your home is on the market, for example, especially because it’s hard to predict when a house will sell. Just make sure you purchase a policy that will refund premiums if the house becomes occupied. Anytime your personal home or rental properties are vacant for an extended period of time, you may need vacant house insurance to protect yourself from liability claims and other risks. Talk to an experienced insurance agent to identify how much coverage your current policies provide, then let them help you cover the gaps with vacant property insurance.

What Does Vacant Property Insurance Cost?

Since certain risks increase with an unoccupied property, vacant property insurance is typically more expensive than a standard homeowner policy. If you’re only adding an addendum to your current policy, it may be more affordable, but just make sure it includes all the coverage you need. Fortunately, most insurance carriers will return any unused premiums if the house becomes occupied before the end of the policy’s time period.

Factors that affect your premium can include:

  • Your geographic location.
  • The property's value.
  • The amount of coverage you purchase.
  • Safety of the house or property.

What are Common Vacant Property Claims?

Here are a few of the most common causes of loss to vacant homes and properties, as provided by the Insurance Information Institute (III):

  1. Break-ins. When a property is left unoccupied for any length of time, it can attract attention from thieves who can cause property damage and other losses.
  2. Vandalism/Arson. Arson, property damage, defacement and vandalism are common among vacant/unoccupied properties.
  3. Maintenance/Upkeep. When a property is unoccupied or vacant, there is often no one maintaining the property and no one around to identify abnormalities such as utilities complications, broken or leaky pipes, gas leaks, and other problems that can escalate quickly and without the property owner’s knowledge culminating in costly fixes or even complete losses.
  4. Property liability. In vacant properties, there is no one present to prevent others from entering the property or to supervise activity. This could increase the likeliness of an accident on the premises or property damage when the owner is not there.

How Can I Reduce my Risk?

Start with analyzing your site-specific risks, which could include heavy rain in certain geographic areas or increased theft risks for a property in a high-crime location. Once you have identified your exposures to loss, some steps can be taken to mitigate them or decrease their impact. Taking such precautions as keeping lights on a timer to deter thieves, installing security systems and/or locks and checking on your property often will aid in keeping your property safe and secured from exposures. Another loss reduction strategy is to either rent your home/property on a month-to-month basis or have a live-in "caretaker" (i.e., a friend or college student who agrees to care for the property in exchange for housing).

Frequently Asked Questions

  1. Is there a difference, insurance-wise, for unoccupied home versus a vacant home?
  2. Essentially, if a home is ready for occupation, but is unoccupied, then it falls into unoccupied home, but if it needs renovations or other improvements before being ready for occupation, then it is considered a vacant home.

  3. How long will my regular homeowners insurance cover my old home after i move into a new one?
  4. It can be anywhere from 60 days or more, it will vary by insurance carrier.

  5. Will my home insurance cover my additional home if I set it up as an Airbnb or other temporary renting service?
  6. It may not, many home insurance companies that offer coverage for short-term stays limit them to four weeks or less. Review your homeowners policy carefully before signing up to share your home.

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Whether you are looking for the best coverage or to save more money over your current policy, our fast and friendly service staff is always here to help. As we work with numerous carriers across the United States we can offer more products at the best competitive rates. We at The Insurance Shop don't stop there, we also have a highly trained and experienced customer service team who guide and support you both before and after you've obtained your coverage.

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