Vacant Homeowners Insurace Refund

Hi, one of the big things you want to look at when you go out and purchase a special vacant home insurance policy or vacant dwelling policy, is to make sure you understand the refund provision. For example, if you have moved out of your home and buy coverage for 90 days, and then unexpectedly, the home sells in 20 days, how much will the carrier refund back to you? This can vary among carriers.

One carrier advertises you only need to buy 1 day of coverage, but all will have minimum premium amounts that cannot be refunded.

Most companies do a nice job returning "unearned premium" but this is a provision you should understand before you do business with a specialty insurance company that provides insurance for vacant homes and vacant buildings.

Mark