Homeowner’s insurance has been a hot topic lately…especially with sellers who have already vacated their current home.  In today’s market, it is not uncommon for a homeowner to buy a new home first without selling their old one. 

The problem is, most insurers will not insure a vacant home because there is a greater possibility that something will happen to it.  Some insurers will even stop coverage all together when a home has become unoccupied for over 30 days.   That’s because such occurrences as theft, vandalism, fire and water damage are far more likely to happen in vacant houses than occupied ones and the damage is more likely to be worse because no one is around to report it or stop it. 

If you find yourself in this situation, ask your current insurance company for a “vacancy permit” but you need to do this BEFORE the 30 days expire.  This type of permit will provide similar coverage but will not protect your home against malicious acts, glass breakage or water damage.  Some insurance companies do offer coverage for vacant homes but typically it’s at a higher premium. 

Bottom line is…make sure you do your due diligence before making the decision to vacate your home (if it’s going to be for an extended amount of time).   The devil is always in the details!!