Some people are reluctant to insure their vacant homes. In most cases, budget restricts people from making that important decision. With Skeele Agency, Inc., you can effortlessly find a policy that is ready to work within your budget to provide you with the most suitable insurance. Our experienced agents help you to compare different quotes so that you find the most affordable option to cover your empty home. The reason we emphasize the need for a specified vacant home insurance policy is that standard building insurance may not be willing to cover your property. There are various reasons why your property may be vacant for some time, including the following:
- During renovation
- Between tenants
- Probate
- Awaiting sale, among others
Vacant Home Insurance Coverage
A vacant home, unlike an occupied home, may be at risk of more dangers that can cause significant losses. Some of the areas that this type of insurance covers include:
- Storm damage
- Malicious damage
- Riot and impact
- Fire
- Theft
Note that the quote you get from any of our agencies depends on various factors. The location of your property, possible risks, as well as the amount of coverage you want are some of the factors that affect the price of your policy.
Benefits of Vacant Home Insurance
Some of the advantages in obtaining a vacant or unoccupied home insurance policy from Skeele Agency, Inc. include the following.
Liability Coverage
If someone is injured while on your empty property, and the authorities hold you responsible, this policy helps you out. It covers bodily injury costs as well as damage to a third party’s property.
Full 12-Month Policy
You can get a flexible payment plan as well as a pro-rated cancellation in case you need to cancel before the year is over.li>
Landlord Flexibility
Whenever you rent your property and it stays vacant between tenants, a vacant home policy can cover the loss of income.
Actual Cash Value
When a partial loss or damage occurs, this policy covers a percentage of the cost of replacing or repairing your damaged home. The coverage is usually less the depreciation and other applicable deductibles, depending on the age and condition of your home.
Agreed Loss Settlement
In the event of a total loss of your vacant home, this policy pays you the agreed amount of your home minus the applicable deductibles.
Vacant Land Insurance
Your unoccupied property could also be in the form of land. Vacant land insurance covers any bodily injury or property damage claims. Skeele Agency, Inc. will get you covered so that when people are involved in an incident while on your property you remain protected.
Most importantly, vacant land insurance will keep you financially protected in case someone is injured and involves you in litigation. However, note that this coverage does not extend to damages that may happen to your land.
