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Vacant Home Insurance – Homes may be vacant for a variety of reasons. The home may be For Sale or perhaps undergoing remodeling; perhaps the owner has moved out and is awaiting a better economic client to sell the home!
Homeowners Insurance Policies have an Occupancy Clause which may terminate coverage after a short period of occupancy change; a Homeowners Insurance Policy is only underwritten as the Primary Residence of the Titled Owner. Vacant homes are a far greater risk to insurance companies and a vacant home insurance policy is a basic fire insurance policy with few options. Most preferred carriers will not underwrite a vacant home risk; HDA Insurance has found the solution!
Many cases have been recorded in multiple states where insurance carriers have not paid insurance claims simply based on an unreported occupancy change on homeowners insurance policies; the occupancy clause is is a condition of home insurance policies.
Unoccupied homes pose a much greater risk of vandalism, fire and liability related claims. The best way to determine the cost of Vacant Home Insurance is to request a detailed quote. The following are a few attributes of the HDA Vacant Home Insurance Program:
- Dwelling Values Up To $750,000
- Premises Liability Up To $500,000
- 6 Month Policy
- Deductible Options – $1,000 & $2,500
- Up To 4 Units
- Vandalism Coverage Optional
Residence must be insured at 100% full replacement value per Marshall & Swift estimation.
