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How can I get home insurance for a vacant house ? |
My Father died recently and the Company has cancelled his coverage. Although I live there (part-time) I am told the house is no longer "owner occupied" True, it's not. You can go to www.foremost.com, and that's the cheapest place I've seen for vacant property insurance. Plus, they'll renew it for a couple years if it takes a while to settle the estate, AND give you a pro rata refund when the property finally sells. They have agents all over the place, so you can "find an agent near you" on their web site. Source(s): agent, 21+ years its worse than not owner occupied, its UNOCCUPIED in their eyes and they dont like this. the theory is that unoccupied houses are liable to be vandalized and the insurance company doesnt want to pay for this. if you loose insurance on a house with a mortgage, it becomes difficult to insure it again for the same reason. i say you contact the state insurance to get some. this is an inferior insurance with inadequate or non-existant contents insurance but its better than nothing in a pinch. if the house is still mortgaged, the bank wont like the no insurance situation so move PRONTO on a replacement insurance.... please try this <a href="http://www.anrdoezrs.net/click-1748196-1... target="_top">help!</a> <img src="http://www.lduhtrp.net/image-1748196-104... The insurance answer is this: Most good carriers will not cover a vacant dwelling. Too many bad things happen to houses where no one lives. You will have to go with the state plan where you live. Talk to your agent for more help. The common sense answer is: Sell the home or rent it out asap. What is the reason for keeping it? It probably won't be any more valuable than it is now. Usually the companies give you a fair warning before you are actually cancelled, so you probably have time to sell it before then. I just went through this recently when being licensed. After a property has been vacant longer than 60 days the insurance company sees this as a potential problem and will cancel your policy immediately. I would suggest either moving into the property, renting it, or selling it. It is more difficult to prove this as a vacation or secondary home, but that is an avenue you would have to discuss with your local insurance agent. If you are living there, even on a part time basis, the house is occupied. You need to take out a dwelling fire policy. That covers a house that is not owner occupied. You then need to take out a renters policy for yourself. If you are not living in the house but just going over and checking on it then it is vacant. Foremost can write a vacant dwelling policy. contact an independent agent for a quote. |
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