While getting renters insurance, you may miss out on crucial information. Usually, you buy a home policy for a home where you live or rent out to tenants. But what if the house is vacant and no one lives there? In such cases, you need to get a vacant home policy from your insurance company. That is because your insurance company may deny claims under regular coverage if they found that the home was vacant for over 30 days. You can even get the answer to can renters insurance be transferred. Also, you can even browse through an agent directory and search for some independent agent who can help you get a good deal. 

Can Renters Insurance Be Transferred In 2022? 

The primary reason to buy vacant renters insurance is to safeguard yourself against the probable losses to your home while it sits alone. For example, if you’ve decided to go on a holiday with your family for three months, you can take this policy for that period. Similarly, if you’re waiting to make the sale of your home, your home may stay vacant for a few months. That’s when you can use this policy.   

Typically, a standard home insurance policy covers your home till 30 to 60 days of a vacancy. However, you need to check with your insurance agency to be sure as the period differs from one insurer to another. On the other hand, vacant home insurance covers a vacant property from three months to twelve. Your insurer may extend the coverage period upon request.  

Coverages And Exclusions Of Vacant Home Insurance Policy In 2022

The coverage widely differs based on the type of policy you take with the help of insurance technology. However, the standard coverages you can find are the following:   

• The policy covers you if your home burns in a fire.   
• Any loss or property damage due to theft and vandalism falls under the scope of this policy.   
• Your insurer will compensate for loss or damage of property due to squatters.   
• If a tree in your vacant home premise falls in the neighbor’s property and results in damage, you’ll get property owner liability coverage from your insurer.   
• Storm-related damage also falls under vacant home coverages.  

Apart from the coverages, you should also be aware of the exclusions. For example, if the damage is the result of your carelessness. To give a clear picture, consider that you left the windows and doors open to your vacant home. That’s like an invitation to a loss event. Therefore, your insurance company with the help of captive agent will not cover losses due to such negligence.  

Other exclusions can be damaged during structural repairs, extensions, and so on. Additionally, any damage by a contractor is an exclusion of a vacant home policy. However, such loss is within the scope of your contractor’s insurance coverage. You can even get more information on can I get renters insurance if I live with my parents? 

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