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The Importance Of Empty House Insurance

By Edited Nov 13, 2013 0 0

Every homeowner must have home insurance for protection against theft and damage. This kind of insurance is required by the lender for anyone who is carrying a mortgage on their home. Obtaining empty house insurance is not cheap but it is imperative to insure against damage or loss of your assets. A house that is empty has its own set of problems that you will need to watch out for.

An empty home is an invitation for mischief and there is no line of defense if things happen to go wrong. Gas leaks, electrical fires and water leaks can occur with little or no warning and quick action is often required to mitigate the damages. A broken pipe can cause huge amounts of damage not to mention the money required to repair the break. There is always a risk for infestation by animals or insects if a home is vacant. A good home insurance policy will cover all of these issues. Things can go wrong in a heartbeat and if you are away from your home and you have not arranged for a house sitter, the results can be devastating. Criminals have been known to monitor the activities of homeowners so they will know the best times to break in. Arson and vandalism are two more issues that you must be concerned about as a homeowner.

It can be confusing when it comes to choosing the right insurance company to protect your empty house. An online search will yield a number of different possibilities and do not underestimate the value of personal references from friends or family members. Insurance of this kind can also be purchased for commercial properties. A short term policy may be necessary if you are not sure how long the house will be vacant. Contracts can be purchased for three, six or nine months in duration, depending on your specific needs. This option is attractive if you are selling the home and currently living elsewhere.

Make sure you have a clear idea of exactly what will be
covered when you are looking for an insurance policy. Ask plenty of questions and be prepared to find another company if you cannot get acceptable answers to those questions. The insurance company will likely visit your property to prepare a risk analysis report. They may even require you to address certain issues before they are willing to extend full coverage. They will also make a determination about items they wish to exclude from the policy. Your policy absolutely must cover damage from water, fire and vandalism since these issues often result in pricey repairs.



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