Securing Complete Unoccupied Dwelling Insurance

Posted on: January 29, 2015 by Aegis Security Insurance

Securing Complete Unoccupied Dwelling Insurance   

There are a number of reasons why a dwelling remains unoccupied or vacant for a period time, from construction and renovations to a slow real estate market. Property are frequently left unoccupied when they are secondary residencies, rental or income properties. But just because these properties are uninhabited, does not mean they should be left unprotected. In fact, unoccupied homes and dwellings are far more vulnerable to a number of loss exposures than primary residences and regularly occupied properties.

Regardless of the reason that your client’s property remains vacant, uninhabited properties still face many of the same property hazards as their occupied counterparts, and some additional risk exposures as well. That’s where unoccupied property insurance comes in.

A property is often legally considered vacant after 30 consecutive days without occupation, and requires additional coverage from a standard homeowner’s policy. Vacant property insurance is structured similarly to a standard homeowner’s insurance policy, which can be customized to meet the needs and exposures specific to your clients. Unoccupied property insurance is designed to protect vacant properties from fire, explosion, wind, hail, theft, vandalism and a number of other perils. These policies help protect the insured from financial exposure to physical damage to the structure of the home caused by many external factors such as weather, theft and third party damage. These policies can sometimes also cover the owner’s personal property left on-site such as furniture, appliances and maintenance tools. Unfortunately, vacant property insurance can be pricy and hard to come by as many insurers hesitate to absorb the additional loss exposures.

Aegis Security doesn’t shy away from providing coverage for unoccupied dwellings and their unique exposures, including offering premises liability coverage in the event an accident occurs on the vacant property. Aegis Security specializes in serving and meeting the property and casualty insurance needs of hard-to-place and specialty homeowners markets. As part of our unique portfolio of property insurance solutions, we offer competitive unoccupied dwelling insurance to protect your client’s property and investment. To learn more about our operation and offerings, contact us today (800) 233-2160.

Posted in: Unoccupied home issuance