If your home is vacant for any length of time, it may not be covered under your existing insurance policy. Rather than trust your home will still be insured, following is a list of steps to follow with your insurance company to make sure you have coverage.
When someone else is living in your home while you are away, or if the home becomes vacant for just 30 to 60 days, DO NOT rely on your existing homeowners insurance policy.
Rule # 1: If you describe this situation to your agent or the insurance company, do not rely on a verbal conversation or acceptance that "everything is OK." (Get this in writing whenever possible.) At the very least, document the situation to your agent or the insurance company and save the email. If they do not reply back to you, it could be interpreted as acceptance. WHY BE CAUTIOUS? There have been thousands of situations where the homeowner was told that their existing policy would be fine, they don't make a switch over the a vacant homeowners policy (or landlord policy in the case of a tenant) and then find out the insurance company is denying the large claim because none of the primary family was living in the house at the time of claim.
Rule # 2: If your existing homeowners insurance company is willing to continue to insure your home while it is vacant (or you have a tenant) make sure you understand that the coverage will most likely not be the same as when you were living in the house. In many cases it can be drastically reduced and by our estimate, 90% of homeowners do not understand what the differences are.
Rule # 3: Know the amount of time you and your family can be out of the house before you have a coverage problem with the existing homeowners insurance company. Some coverage can end or be reduced after just 30 days with the most common peril lost is vandalism. There is no way you can expect your existing homeowners insurance policy to cover a $20,000 vandalism claim, if after their investigation, they find out the home had been empty for a certain period of time.
Rule # 4: Just because "on paper" it appears you officially have coverage, and the insurance company has cashed your check while sending back documentation showing you are insured into next year, don't assume you have coverage if you or a member of your PRIMARY FAMILY is not living in the home. The insurance company will be more than happy to return all paid premium to you instead of having to pay a $90,000 claim, caused by running water when the house was vacant for 120 days (for example).
Don't risk your most valuable asset. In these situations we recommend clients cancel their existing policy and put on a proper vacant homeowners policy or landlord / tenant policy.
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