Nobody’s home…but your insurance better be

As school starts around the country and many families are settling into their new homes, there was a very timely article written by Sandra Block of USA Today reprinted in the Indianapolis Star this weekend with some sage advice regarding homeowners insurance.  You can read the entire article here.  During a relocation, many times the transferring employee has to report to the new location before she’s able to sell her existing home.  Sometimes the rest of the family will stay behind and continuing living in the home until it is sold.  Other times, the entire family moves to the new location and the house is left on the market, vacant, waiting for a buyer.  This is where the potential pitfall starts.  Many homeowners’ policies are specifically written for homes that are occupied.  Once a property becomes vacant for 30 days or more, many exceptions to your policy can take effect.  The type of exceptions and the length of time before a home is considered vacant vary by insurer, so it’s important to check with your current insurance agent.  Some companies will amend your policy to cover a vacant property, but in some cases you may have to look for additional coverage from another provider.  Better to be safe than sorry…

Posted by:  Ryan Carrell

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