Getting An Unoccupied Property Insurance
It will not be easy to obtain an unoccupied property insurance as one would think. A lot of insurance companies will not consider this type of policy for various reasons, unless the owner assures that the house is frequently checked.
The insurance companies may ask the following questions: Is the house for sale? How long will the house be left empty? Who has been assigned to do the house check and how often will this be? Or is the house located in a far off area. What makes obtaining an unoccupied property insurance difficult is not the fact that the house isn’t deserving for insurance but because of lack of security of the unoccupied house. It could be hard to predict what is likely to happen to an unoccupied house.
Having the property checked often is very important so that theft and vandalism might be prevented. Having a caretaker will help the home receive an insurance since the house will be most likely secured if one is taking care of it. Insurance rate may be extremely high if there are no caretakers to look after the property. Anything can go wrong if a property is left unoccupied and no insurance company would be willing to secure a property they can’t otherwise be guaranteed safe for insurance.
Some companies will provide an insurance however for only a short period of time; some would even take out the policy even if the owner wouldn’t agree of it. Should the property be presently insured, it is essential to converse with the agent responsible for the policy regarding their company’s policies on unoccupied property and how it can affect the coverage. In most cases, the insurance company would only be too willing to work things out, there are even some who would suggest someone to inspect the property, but for an additional fee. This may be the only option left for a mover if he or she is absolutely determined to have the vacant property insured.
Important: It is strongly recommended not to make the property look unoccupied, otherwise it may be targeted by malicious individuals.
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