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Vacant Home InteriorLike many people, you may own a home that isn't inhabited year-round. Do you really need to purchase full coverage for the property? It may be tempting to reduce the amount of coverage you have on a vacant home, but not insuring it the right way can put you at danger for significant loss should an incident occur.

How can you safely protect your home and still have the most affordable home insurance policy possible? Of course, you will want to choose a plan that provides low premiums, but you also need one designed specifically for vacant homes. Many insurers offer these plans, and they do tend to be lower in cost than traditional home insurance.

This type of home insurance is often offered as a special type of policy from traditional insurers. Keep in mind that most traditional home insurance policies may not cover the home once the owners move out, even if the policy remains in place and premiums are paid. Here's what you need to know about vacant and unoccupied home insurance.
  • There is more risk associated with these homes than with one that is full of people. This is because there is no one there to make sure the home is safe.
  • These homes are more likely to be broken into or to have significant damage after storms.
  • People who enter the space may be hurt doing so, which could trigger a liability claim against you.
It's important to consider the details of these policies to ensure they are appropriate for the home. You may want to raise the deductible to a higher level if there is less risk and you can afford to do so. Additionally, you may be able to bundle this type of policy with your primary home's policy, reducing the overall costs.

Do not overlook the value of a home insurance policy, even for a vacant home. If the property is under a mortgage or holds value, you need this type of coverage in place to protect your investment.

Do you need coverage for both your primary and vacation homes? Call Raymond Preston & Reed, LLC at (615) 866-2728 for more information on Nashville TN home insurance.
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Brentwood, TN 37027
Phone: 615.866.2728
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