Vacant Home Insurance: When And Why You Need It

Feb 27, 2024

4-minute read

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An image depicting a vacant house by a lake, potentially relevant to real estate or property management.

A vacant property differs from a lived-in one in several ways. With its empty rooms and corners collecting dust, it most likely feels more like a house than a home. But despite its differences, it’s still a place that can be filled with new life, new things and new memories. More importantly, it’s still a place that needs to be protected – if not for its own potential, then for the potential hit to your finances should any damage happen to the property.

If you own a vacant home now or plan to leave a home vacant in the future, consider vacant home insurance to help protect your property and provide you peace of mind. Let’s take a closer look at what vacant home insurance is and why it’s important.

What Is Vacant Home Insurance?

Vacant home insurance is specialty home insurance coverage for properties that are uninhabited or considered vacant homes. Also referred to as vacant property insurance or unoccupied home insurance, this type of coverage can protect homeowners from financial loss due to unexpected damage that happens when they’re away for an extended period of time.

Vacant Property Insurance Vs. Homeowners Insurance

Many people may assume that a standard homeowners insurance policy would cover a vacant home. Unfortunately, typical homeowners insurance policies don’t cover most claims on a vacant property because they often have vacancy clauses, which restrict or exclude coverage on properties that have been vacant for a certain time – usually 30 or 60 days. Since vacant homes are often more vulnerable to things like theft, vandalism and other damage, insurance companies would rather not take on the risk (and additional expense) by allowing coverage within the typical homeowners insurance policy.

See What You Qualify For