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Old 01-03-2011, 07:09 PM   #1
Homeslice
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Default Home insurance?

I have a house that's empty, and it's going to remain that way for the rest of the year while it's getting renovated. Apparently I am supposed to get a special "vacancy" insurance policy instead of normal homeowners?? Fine, but the trouble is, the quote I received was almost double what the previous owner was paying with his regular homeowner's policy. WTF?
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Old 01-03-2011, 07:15 PM   #2
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Smells like a fish taco. I wonder if that is because vacant houses seem to get broken in and destroyed often.
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Old 01-03-2011, 09:55 PM   #3
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You bought a house (finally)? Where is it?

Prolly what Scott said. Vacant houses tend to get broken into or lived in.
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Old 01-04-2011, 07:26 AM   #4
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Most companies wont write a vacant property in the first place. If they write it without a vacancy permit, coverage for theft/vandalism/malicious mischief will be dropped 30-60 days after it becomes vacant. Your best bet would be talking to an agent about getting a builder's risk policy, especially if you are going to be there a lot of days.
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Old 01-04-2011, 09:43 AM   #5
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I suspect everyone else is right about vacant properties having more issues with squatters, vandalism, and theft.
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Old 01-05-2011, 06:15 PM   #6
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Quote:
Originally Posted by t-homo View Post
Most companies wont write a vacant property in the first place. If they write it without a vacancy permit, coverage for theft/vandalism/malicious mischief will be dropped 30-60 days after it becomes vacant. Your best bet would be talking to an agent about getting a builder's risk policy, especially if you are going to be there a lot of days.
I agree. My BIl had this issue when he bought a house and was doing work on it before they moved in. Sucks but talk to your agent.
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Old 01-07-2011, 07:37 AM   #7
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Slice - is this the home of your relative that recently passed? The one that you got all of the arms out of and sold off? Did he leave you the house as well?
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Old 01-07-2011, 08:11 AM   #8
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Yep.

So now they are telling me the Vacancy policy covers liability and damage, but not the contents. Well if it doesn't cover contents like his old policy did, why is it more expensive? Yeah I know there's more risk if it's vacant, but IMO the biggest risk would be someone stealing the contents, yet they're not even going to cover the contents, so why is it so expensive? Dipshits.

I'm going to ask about a builders risk policy.
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Old 01-07-2011, 08:27 AM   #9
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Quote:
Originally Posted by Homeslice View Post
Yep.

So now they are telling me the Vacancy policy covers liability and damage, but not the contents. Well if it doesn't cover contents like his old policy did, why is it more expensive? Yeah I know there's more risk if it's vacant, but IMO the biggest risk would be someone stealing the contents, yet they're not even going to cover the contents, so why is it so expensive? Dipshits.

I'm going to ask about a builders risk policy.
Maybe they are more expensive because they consider vacant homes a high risk for copper theft, wire theft, etc. ? Ripping out that stuff typically causes much damage which costs much more than the value of the stuff they are stealing. Just a guess.
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Old 01-07-2011, 08:54 PM   #10
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Quote:
Originally Posted by LeeNetworX View Post
Maybe they are more expensive because they consider vacant homes a high risk for copper theft, wire theft, etc. ? Ripping out that stuff typically causes much damage which costs much more than the value of the stuff they are stealing. Just a guess.
Not to mention arson,vandalism, etc... Neighborhood teenagers will jack a vacant house up in a minute.
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