You may be a landlord with an unoccupied rental unit, own a vacation home that’s only used part of the year, waiting for a home to sell, or performing renovations. Either way, you’re going to need insurance to protect your investment while it’s unoccupied and each situation comes with unique risks.
What Is Vacant
A home is typically classified as vacant if no one lives there for 30 to 60 days or more. Some insurance companies define a vacant dwelling as a home in which the residents left and have no intention of returning. A home can be deemed vacant if it’s been purchased and the new owners haven’t moved in yet. It doesn’t matter whether it’s furnished or if personal belongings are still in the building.
A vacant home is at increased risk for vandalism and break-ins. Owners will need to notify their insurance company that the structure is empty and the insurer may or may not agree to accept the monetary risk. Insurance companies do offer vacant home policies, but they’re significantly more expensive and may not cover things like broken glass, water damage or vandalism.
As the owner, there are multiple precautions that individuals can take to protect their vacant property. Make sure all doors and windows are locked. Close the blinds or curtains so people can’t see in and consider a security system that can be monitored from a distance.
One of the most important things people can do is to make the house looked lived in. Visit the home periodically – and at various times – so a vehicle can be seen in the driveway. Keep lawns mowed, trash and debris picked up, and don’t let junk mail pile up. Install timers to turn lights on and off in different rooms at random times.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487