Do you currently own a vacant building, and would like to know what your options are for purchasing vacant building insurance? If so, you have come to the right place. Vacant building insurance can be hard to come by, as most insurance companies will not insure them. There are indeed companies that do provide it, however. One way to apply for it is at the website vacantbuildinginsurance.org. This article will discuss how you can get vacant house insurance and how it works.
What is This Type of Insurance?
That is a good question. quote for vacant building insurance is an essential coverage for a home or building that is no longer being occupied. Often times, homeowners will leave their property vacant under the assumption that their current homeowner’s policy will continue to cover the home. Nothing could be further from the truth unfortunately. This is because vacant homes are attractive to more unsavory characters. Often times, kids will break into the building, vandalize it, and can even get hurt. This is where the vacant building policy will come into play.
How Does This Insurance Work?
The way that this kind of insurance works is a little complex. There are several options to obtain this insurance. You can add it to your current homeowner’s insurance policy as an endorsement. It is important to note that not all insurance companies offer an endorsement option. You may be able to purchase a separate policy once the home is vacant, however. This is why remaining silent once you have left the home or your tenants have left is not the answer. Often times, typical insurance policies include a clause that voids any damage or vandalism coverage once the home is vacant. If you were to try to place a claim for any damages, you could be faced with insurance fraud charges as well.
Finally, vacant home and building insurance is a must, especially if there is even a slight chance that your home could be vacant for any amount of time. Not only could you be saving yourself money by not having to pay for damages out of pocket, but also a lot of headache if something were to happen. It is important that you are upfront with your insurance company as soon as your home is vacant, as you may need to shop for a new insurance company if they do not offer a policy for you. You can check out this helpful website by visiting vacantbuildinginsurance.org/ for more information.
vacant house insurance 