A vacant home is a residence that is left unoccupied for a period of time throughout the year. For this reason, vacant homes pose special risks to the insurance company, which result in certain coverage requirements for you, the owner.
Because there is no one living in the building (typically more than 30 days), a vacant home is more susceptible to damages by theft and burglary.
We have heard quite a number of horror stories around someone selling their home and leaving it vacant for an extended period of time, only to find someone has stolen their copper pipes right before the closing date.
If you are buying or selling your home and are relying on a standard home insurance policy, it is critical that you do not leave your home vacant for more than 30 days.
Losses that occur in vacant homes are not typically covered on the standard home insurance policy.
If your home is going to be vacant for more than 30 days it is recommended you get some form of vacant/temporarily unoccupied home insurance to guaranteed your home and its contents are protected.
So, whether you are doing a massive renovation, going on an extended trip to Europe, or in the process of moving, make sure your home is properly insured.