Homeowners Insurance: Four Need-to-Know Items for Unoccupied Homes

unoccupied house

Many people looking for unoccupied homeowners insurance for an empty residence will find that the process can be difficult. Many companies will not cover such a dwelling or charge high premiums because of the increased risk associated with vacant properties. The chance of burglary and vandalism are higher. The potential of unnoticed damage, which can compound problems and costs, also increases. There may also be an issue with squatters.

If a residence is vacant for more than 30 days, a standard policy may become invalid. In order to find homeowners insurance that will cover this type of property for a reasonable price, here are four things that should be known to reduce risk and help lower rates:

1. Make the home look occupied. There are many things that can be done, such as asking a neighbor to park their car in the driveway and putting lights on a timer. It is also recommended to leave furniture in the home when securing your home. Be sure to also have newspapers and other mail stopped.

2. Prepare the central heating and water. If a house will be empty during the winter months, the risk of frozen pipes and water damage increase. By keeping the heat on at a low setting, this risk is reduced.

3. Set up regular inspections. The majority of problems with vacant properties are simply because of unnoticed issues and compounding damage and costs. By having a trusted third party make regular visits, this can be avoided and add peace of mind.

4. Secure the property and remove valuables. All entry points should be secure with an alarm set. Valuables should be removed so they do not attract attention that could lead to burglary.

By following these tips, you can reduce the risk and hopefully use it as leverage to receive lower insurance rates.

For more information, visit www.HomeownersInsurance.net.