Home Insurance :Housing Market Stalls Causing More Vacant Homes

admin — Sat, 24 Jul 2010 03:56:09 +0000

The housing market in the Spring of 2010 made a “dead cat bounce” and homes not selling and sitting empty this summer means the need for vacant home insurance. Most people are overly optimistic regarding how quickly their home will sell. Everyone thinks their home is special and

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The housing market in the Spring of 2010 made a “dead cat bounce” and homes not selling and sitting empty this summer means the need for vacant home insurance. Most people are overly optimistic regarding how quickly their home will sell. Everyone thinks their home is special and will out-compete the competition. Many of these people will move into a new house while the old one sits on the market. In 2010 this is extremely dangerous.After the home sits empty for just 60 to 90 days homeowners may need to purchase vacant home insurance. Their existing homeowners insurance company will not offer a vacant homeowners insurance policy so they will have to switch carriers. Their existing homeowners insurance company will not continue to cover the empty home while the family moves into a new home as you cannot have two “primary residences.” Vacant home insurance is also expensive, and will cost about 3 x to 4 x the previous cost of homeowners insurance.Vacant Home Insurance Now (.com) has noticed many people having to continually re-up and renew their vacant home insurance and vacant dwelling insurance program because, to but it simply, homes are not selling well in the summer of 2010. The market is not an F, but no better than a C-.

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Best Home Insurance :Vacant Homeowners Insurance Quotes: 3 Problems

admin — Sat, 02 Jan 2010 03:48:25 +0000

When people have a home on the market for sale that becomes vacant or empty, and requires vacant home insurance, they soon find they are being cancelled by their existing homeowners insurance company. When they seek quotes on the market for vacant homeowners insurance there are three

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When people have a home on the market for sale that becomes vacant or empty, and requires vacant home insurance, they soon find they are being cancelled by their existing homeowners insurance company. When they seek quotes on the market for vacant homeowners insurance there are three potential problems and pitfall that they need to be keenly aware of to avoid major problems down the road.The first is, what is the name of the insurance company providing the vacant home insurance quote? It’s amazing, but people get vacant homeowners insurance quotes and the agent may not even present the insurance company that is backing the quote! Our rule, if you don’t recognize the company or cannot find the insurer easily or the Internet, it may not be the strongest quote so look elsewhere.The second item is, what are you insured for? People get vacant house insurance quotes and they assume they are getting the same level of coverage as when the house was occupied. Instead of all risk coverage for the empty house, they end up with named perils coverage and only 8 perils covered for! Again, this is not readily apparent when one ask for the quote in many circumstances. Always ask what you are insured for and get the list of named perils. (for example, fire, smoke, lightning, wind, etc).The last pitfall is the perils of vandalism. Vandalism if the # 1 cause for claims in a house that is vacant or unoccupied. All vacant dwelling insurance quotes should come with vandalism. Unfortunately, many do not unless the applicant asks specifically for this coverage and the coverage is added back in for an additional fee.All-risk coverage from a quality company, and one that includes vandalism is available from vacanthomeinsurancenow.com

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Home Insurance Blog » vacant dwelling insurance

Home Insurance :Housing Market Stalls Causing More Vacant Homes

Best Home Insurance :Vacant Homeowners Insurance Quotes: 3 Problems