You’ve just invested in a new home, but you may not be able to move in immediately or may want to rent it for added income. Most homeowners don’t realise that they can protect their new investment, even if they’re not living in it. Vacant home insurance is available from many companies, including Archer Insurance, allow you to protect your significant investment. While it can cost a little more than traditional homeowner’s insurance, the benefits far outweigh the added cost.
Why You Need It
Since you are not living in the dwelling and it is sitting empty, you can’t protect it like you would a home you’re living in. The insurance you choose will be able to keep it safe, even if you’re not on the property. Vacant homes can be a magnet for vandalism, fire, and other malfunctions. No one will be there to prevent it or fix the problem, allowing it to continue causing more problems, potentially leading to a fire or electrical hazard. All that money you spend on the investment is gone with nothing to show for it if you do not have vacant home insurance.
Likewise, deterioration of the inside or landscape can occur when no one lives in it for an extended period. Termites and other insects (cockroaches and rats) can infest the home and cause significant damage, all without you being aware of the situation. While it can still cause the damage, your vacant-home insurance will help pay for the costs to restore it.
How To Insure A Vacant House
Once you’ve realised the benefit of insuring your vacant home, it’s essential that you choose the best policy. Determine how long the house will sit vacantly. If you’re planning to move to another location or can’t move into the new one yet, you can insure the house and keep it safe. Likewise, you can use these policies while you go on extended holidays and vacations, as well.