YOU ASK:

Do I need to buy separate home insurance for a vacant house?

WE ANSWER:

If you would like to have peace of mind while you are away from your home, the answer is yes. Your home insurance policy does not provide protection for your vacant house against any risk of loss. What you will need to do is purchase a separate policy in the form of vacant home insurance.

One important detail many home owners are unaware of is that their home insurance policies cease to provide protection for their houses if the latter are left unoccupied for a certain period of time. This period of time may vary from a minimum of 30 to a minimum of 90 days. Home owners usually learn this important detail the hard way - after being denied a claim by their insurer on the grounds that they have left their house vacant for an unacceptable period of time.

When to Buy Home Insurance for a Vacant House

If, for example, you and your family are about to go on a long holiday and leave your house vacant for a period of over 30 days, you will be better off buying separate home insurance coverage. Otherwise, if your house suffers any damage or loss while you are away for a period longer than 30 days, your insurance provider will deny the claim and not cover the damages.

Vacant House Insurance Disadvantages

Though it may be a good idea to have some insurance on your vacant house while you are away, vacant home insurance is, in fact, extremely cost-ineffective.

First of all, it is not offered by all home insurance providers. Those companies who do provide such protection, offer it at very high rates. Vacant home insurance premiums are not justified by the scarce coverage provided: vacant home insurance only covers nine basic causes-of-loss.

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