http://www.bigstatehomebuyers.com – If you own a house in which you no longer reside, then you need to know about vacant home insurance. It may be tempting to leave a house vacant without notifying your existing insurance agent of the change in the home’s status. However, doing so may put you and your property at risk, since many policies actually have exclusions for neglect or abandonment. The exclusion kicks in 30-60 days after the home has been left vacant.
Some insurance companies will offer what is called an endorsement which must be purchased. After the home is considered vacant, homeowners can buy back the exclusion. It usually costs under $100, but many insurance companies lack this option.
Watch this video with Brian Spitz to see what you need to know about insurance for vacant houses, and other ways you can protect your vacant house!