Vacant Property Insurance
Vacant Property Insurance in Kansas City
Providing Vacant Home Insurance in Missouri and Kansas
Affordable Vacant Property Insurance in Kansas City:
When you aren’t home, your property is more vulnerable to damage risks and other liabilities. These risks become even more pronounced when you leave the home vacant for an extended time. As a result, standard homeowners insurance might not adequately cover the home, and you may need to purchase vacant home insurance instead.
Here at Bargain Insurance Connection, we will work with any greater Kansas City resident to ensure they get a quality vacant home policy at an affordable price. Call us at 816.453.7722 today or keep reading to learn more about vacant home insurance.
What is vacant property insurance?
When a home is left empty for an extended time, there is a higher risk of problems occurring. For example:
- A fire might occur and get out of control because no one is home to catch it.
- A storm might strike a vacant home, causing damage that not only goes unrepaired but that could also potentially lead to further damage.
- A thief could break into the home and could be long gone before the resident can discover the theft.
The longer you are away from home, the more likely risks like these are to occur. As a result, most home insurance policies do not continue to cover homes that have been empty for a significant time. The homeowner might have to purchase a vacant home insurance policy instead. While similar to a standard homeowners insurance policy, its terms are more appropriate to cover the risks associated with an empty dwelling.
What homes need vacant home insurance in Kansas City?
Different insurers define vacancies differently. As a general rule, if your home remains empty for more than 30 days, you likely need vacant home insurance.
Homes that might need a vacant home policy include:
- Vacation homes that someone only lives in at intervals
- Rental homes that are empty while the owner searches for new tenants
- Homes that are being renovated, forcing the owner to live elsewhere temporarily*
- A home you recently bought but will not move into for several weeks or months
- A home you plan to sell but still own though you have moved to a new residence
Plus, if you frequently travel, leave home for extended medical treatment, or are a member of the military on deployment, you might need a vacant home plan.
*Homes that are under construction are not considered vacant. These properties will need builder’s risk insurance rather than vacant home coverage. You might also be required to buy builder’s risk coverage if your insurer classifies a new home remodel as a construction project.
What is the difference between a vacant and an unoccupied home?
When insuring an empty home, you will need to determine whether the home is vacant or unoccupied.
- Vacant homes are essentially empty homes. No one lives in them, nor do they have possessions inside them. An example of a vacant home might be a rental home that is between tenants.
- Unoccupied homes are properties that are lived in, but the resident hasn’t been home for a long time. These homes will often have possession inside them, and the utility services usually remain connected.
Though a vacant home insurance plan can cover both properties, the terms will still need to be customized to fit the home in question.
What does vacant home insurance cover?
Your vacant home insurance will provide property insurance that will protect your home and possessions in the face of unexpected damage like:
- Theft and vandalism
- Fires and explosions
- Storm damage (wind, hail and lightning)
Some policies will also cover burst pipes, and it is possible to purchase separate flood insurance for an empty home. Many policies will offer a liability insurance benefit, which could protect you against claims made by others who sustained harm while on your property (even while it’s vacant).
Various other benefits are available. Because all empty dwellings vary, ask your agent to help you determine the appropriate additions to your plan.
How do I get vacant home insurance in Kansas City?
You can obtain a vacant home plan through a:
- Policy endorsement—You can get coverage by purchasing vacant home insurance as an endorsement on your homeowners insurance policy. You will keep your existing plan, but the endorsement will expand the plan to include vacant home coverage.
- Stand-alone policy—If you buy a stand-alone policy, you do not need to carry a separate standard homeowners policy. The vacant home plan will continue to insure you both when the home is empty and occupied.
Is vacant home insurance more expensive?
Because vacant and unoccupied homes face higher loss risks, like vandalism or theft, coverage is limited and the cost is generally lower than a regular home insurance policy. However, various factors will influence the cost of your policies, including how long your home has been vacant.
Your Bargain Insurance Connection agent is committed to helping you keep your home insured at all times, whether it is occupied or empty. Call us today at 816.453.7722 to learn more about if a vacant home insurance policy is right for you. Request a free online quote!