What Does Vacant Building Insurance Cover?

Homeowners’ insurance does not cover all types of homes. If you own a property that is empty, you need to get vacant building insurance for it instead. This coverage is meant for vacant dwellings such as houses undergoing renovations, homes that have been on the market for sale for less than a year, a single residence in a rural area, or unoccupied manufactured houses.

Your policy is designed to address common risks for uninhabited premises, such as theft or vandalism. Because these places are not watched often, it is very tempting and easy for people to break into one of these homes and steal items, deface the property, or use it for criminal activity. Such illegal use can also lead to fires and injuries. Vacant building insurance may also cover damage caused by weather, riots, explosions, vehicles and aircraft, smoke, and natural disasters. The type of coverage you will need depends on the type and location of the dwelling.

It is vital that you get a policy as soon as the home is erected or empty in order to be prepared for any destruction that may happen. You may not be able to guard or visit your property as much as you like, but you can still have peace of mind by purchasing vacant building insurance.