Homeowners Insurance: Four Need-to-Know Items for Unoccupied Homes

There are specific items that property owners must be aware of if they have an unoccupied home; in addition to homeowners insurance, there are four things people must know about

News provided by

HomeownersInsurance.net

Jan 13, 2011, 07:40 ET

CHICAGO, Jan. 13, 2011 /PRNewswire/ -- Many people looking for unoccupied homeowners insurance for an empty residence will find that the process can be difficult. Many companies will not cover such a dwelling or charge high premiums because of the increased risk associated with vacant properties. The chance of burglary and vandalism are higher. The potential of unnoticed damage which can compound problems and costs also increases. There may also be an issue with squatters.

If a residence is vacant for more than 30 days, a standard policy may become invalid. In order to find homeowners insurance that will cover this type of property for a reasonable price, here are four things that should be known to reduce risk and help lower rates.

1. Make the home look occupied. There are many things that can be done, such as asking a neighbor to park their car in the driveways and putting lights on a timer. It is also recommended to leave furniture in the home when securing your home. Be sure to also have newspapers and other mail stopped.

2. Prepare the central heating and water. If a house will be empty during winter months, the risk of frozen pipes and water damage increase. By keeping the heat on at a low setting, this risk is reduced.

3. Set up regular inspections. The majority of problems with vacant properties are simply because of unnoticed issues and compounding damage and costs. By having a trusted third party make regular visits, this can be avoided and add peace of mind.

4. Secure the property and remove valuables. All entry points should be secure with an alarm set. Valuables should be removed so they do not attract attention that could lead to burglary.

HomeownersInsurance.net:

HomeownersInsurance.net provides a free service that connects homeowners with agents who will offer free quotes on their homeowners insurance. The homeowner can learn about proper coverage limits and review home insurance rates that are right for them. Shopping online for homeowners insurance is the best way to compare policies and rates to find the most comprehensive and affordable choice. To take the first step in buying house insurance, visit the website.