Vacant Property Insurance
Getting insurance on a vacant property in California can be quite the task. If you are here, then you already know that your standard California house insurance policy does not cover homes that are vacant and that is half of the battle. Actually, in most cases the standard policy with cease coverage after vacancy of 30 days if not sooner. It is important that you work with your insurance agent to get the specifics of your policy.
Unoccupied buildings or property have a significantly higher rate of vandalism and theft. There are many cases in which vacant buildings or properties are broken into and all of the copper is stolen from the homes themselves. Outside air conditioning systems are also frequently vandalized, completed stolen, or stripped for parts.
Many insurance companies that will consider covering vacant property or unoccupied buildings or homes have specialized programs in place for these types of risks. These carriers need to separate these risks from the general homeowner insurance pool so that they can track the losses specifically to the classification and vacancy rather than to have all of the homeowners business pay the price for the losses from vacant property. Many insurance companies that will consider covering vacant property or unoccupied buildings or homes have specialized programs in place for these types of risks. These carriers need to separate these risks from the general homeowner insurance pool so that they can track the losses specifically to the classification and vacancy rather than to have all of the homeowners business pay the price for the losses.
The primary purpose of getting coverage on a vacant house or an unoccupied building is to have protection against a loss that you would not be able to afford to fix. In these circumstances, you need to carry insurance so that you will only be liable for the deductible associated with your policy. In order to maintain this minimal liability or potential liability, you need to make sure that the policy that you have in place will cover the losses that may happen to your property. A standard homeowner insurance policy will not do this for a vacant property. This is why you need a specialized program designed to cover vacant or unoccupied buildings and homes.
Finding the right place to get insurance on an vacant property can be difficult since almost every standard house insurance carrier will not consider this type of risk. Vacant properties or homes have an increased risk for many reasons. The first is that if a fire were to begin in a vacant property the chance of it becoming a total loss is more than double that of a standard home or house. Also the risk of theft and vandalism is greater than that of its counterparts.
What Types of Vacant Property Insurance Can I Get?
Here at Bains & Woodward Insurance we are here to help. Regardless of the type of vacant property you have we can shop your policy for you and help to find a carrier that will provide you a comprehensive coverage policy at a competitive rate for your vacant houses. We will do all of the work for you and submit all of your information to the companies that we represent. Then they will all compete for your business. After reviewing all of the quotes we review them and present you with the most comprehensive package at the most competitive rate available.
We can also help if you need coverage for liability only on a property or piece of land that is completely vacant or that has a, vacant house, small shed or storage only. In most cases owners are not concerned with getting building coverage and would just like to have liability protection on the land. We can help you with for that as well and you can request your California vacant land insurance quote today. Please make sure that you tell your friends about our prices and service. We can also help with other types of apartment complex insurance and builder's risk insurance.
