If you travel a lot, it is expected that you will leave your home just to see the world at some point in time. There is nothing wrong with that but you have to know that if you leave your house unoccupied for more 60 days, you are voiding your homeowner’s insurance, which is not a good thing.
Perhaps you do not know that if you leave your house and something happens, the insurance company will not cover the claim of damages and losses. Basically, it means that whatever losses or damages sustained will be paid from your own pocket unless you get unoccupied home insurance. If you are wondering about it, here are common questions with answers that can help you make an informed decision:
Can you get insurance for an unoccupied house? Of course. Before leaving the house, you need to review first your standard homeowner’s policy. A standard policy will not cover fire, theft or vandalism on an unoccupied property. Check if you can purchase unoccupied home property as an add-on or as a separate policy. If it is an add-on, you just need to pay extra to your existing homeowner’s policy. If you need to purchase it as a separate policy, you do not need to pay the standard homeowner’s policy.
Does unoccupied home insurance cost more than the standard homeowner’s policy?
Not necessarily. There are different factors that can affect the premiums for unoccupied properties but it doesn’t mean it costs as much. The cost may be higher for a particular property because of the security risks. If it is considered as an add-on, you will pay extra for this insurance. If you are thinking about getting a lower premium, you should ask your insurance provider but it may mean you will increase the voluntary excess if you claimed.
What will the unoccupied home insurance cover?
As mentioned earlier, unoccupied insurance is not the same as your standard homeowner’s insurance. This kind of insurance will cover the house for losses caused by lightning, earthquake, smoke, fire, and smoke. Other insurance providers also include aircraft collisions and legal liability to the coverage. If you are particular with vandalism and theft, you should make sure that the provider offers that.
What if you fail to tell your insurance provider before you leave?
If you fail to tell your insurance provider before you leave and something happens to your property, they are not liable for any damages or losses. This means that you risk the potential of canceling the policy. The insurance provider will reject all claims made to them especially if the house was unoccupied for how many days. With this, it is really important that you keep your house safe even if you are not there. Do not forget to tell your insurance provider so they can also suggest better alternatives or course of action.