What type of insurance do I need for a vacant home?

I bought a fixer-upper in my town for a great price. It will probably take me about a year to fix the house up to living condition. What type of insurance do I need for a vacant home?

Answer
“You’ll need to purchase unoccupied or vacant home insurance. This is a specialty home insurance product specifically designed to cover claims for a home that currently doesn’t have any occupants.
Home insurance for unoccupied properties exists because insurance companies consider them high risk. If a home is unoccupied, theft and vandalism are more likely to occur. Fires and other disasters may go unreported as well.
Before shopping around with other companies, ask your car insurance provider about home insurance. You may be able to bundle both policies. Bundling can often get you a discount on both policies, making it cheaper than having two separate insurance companies.
Even if your car insurance company offers vacant home insurance, make sure to shop around to get the best rate. It’s always a good idea to compare rates with multiple companies to see where you can get the best deal. Smart-comparison tool Jerry makes this easy. Jerry will pull multiple quotes for you and will even help you fill out the signup paperwork.”
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Eric Schad
Answered on Aug 12, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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