Each one of us, at some point or the other  leaves the home unoccupied. The reasons may differ, but the risks remain the same. It is in such situations that Vacant and Unoccupied Home Insurance comes to your rescue. It is true that your normal homeowners insurance policy won’t continue for vacant homes. But, there are insurance policies specifically designed for vacant and unoccupied homes. Here are few things that you should know before leaving your unoccupied for a couple of months or more.

Possible Risks:

These are a few possible risks of leaving your home unoccupied or vacant-

• Damage caused due to fire or wind.
• Water damage due to frozen pipes, leakages.
• Vandalism
• Glass breakage
• Theft
• Damage due to natural calamities.

These are all perils against which you need to insure your home. But as far as vacant home insurances are concerned, you need to specify the peril against which you require an insurance.

Why is it a Challenge?

Getting a vacant home insurance is undoubtedly a challenging task. The major reasons are-

• Not many insurance companies offer it. So, it is not easy for someone to find an insurance company who offers it.
• It is more expensive than the regular homeowner’s policy. Though it is difficult to estimate the cost of vacant home insurance, it is always good to keep in mind that it will cost you at least 50-60% more than your regular homeowners policy.
• It is often broken down which means you have to pay for specific damage. And if you want protect your home against other sorts of damages, you will have to pay more for it.

Since it is a speciality insurance, it becomes more important to have a knowledge about it. First, you should know which insurance companies are offering Vacant and Unoccupied Home Insurance and then look around for the best deal. Request a quote to know about the cost of insurance as soon as you plan to leave your home unoccupied for an extended period of time.  Check with the insurance company and decide against which peril you need to insure your home which is stranded unoccupied.

One cannot afford to pay for the damages caused to the home when it was left unoccupied or vacant. So, it is always better to choose the right insurance for your empty house. Even though it will cost you a bit more than your regular homeowners insurance, it is always a better option to protect yourself from financially devastating situation.