Vacant Homes being Renovated or Remodeled…Hard to Insure?

Sooo….you purchased a home that has been vacant, and you do not intend to immediately occupy.  Your intent is to have the house remodeled before you occupy.  This situation can present a difficult insurance problem.

Most Homeowners and Dwelling Insurance policies have a limitation on how long a home can be vacant before coverage will no longer be afforded.  Vacancy typically means no furnishings, no one living in home.  Each policy will have specific language regarding what constitutes vacancy.

The best way to provide coverage in this situation is to purchase a short term policy, typically a dwelling policy form for the period of time that the house will be renovated.  This will typically be a named peril policy with loss by theft being excluded.  Wind coverage will be available based on location in the county.  Contents coverage may be available.

Once the renovations are complete and the home is occupied, a standard Homeowners Policy should be available, dependent on whether it is rented or owner occupied.  Every situation will be unique.

When you have vacant property of any kind, call SWFL Insurance Agency at 239-265-9577.

We have extensive markets and are able to place your property coverages at the best price.