Expatriates That Need Vacant Home Insurance May Also Need the Following

We are contacted by hundreds of expatriates a month, leaving their home country to take an international assignment for their employer. Those that call about vacant home insurance may also need the following personal insurance that is not typically provided by the employer unlike international medical insurance and international workers compensation insurance and other things that are provided by the employer.

First on the list is international property insurance. Personal effects and possessions taken into the host country are not covered by an employer's commercial policy. Furniture, clothing, ipod, and even the kid's toys needs to be protected globally and in the host country from fire, theft, vandalism, smoke, flood, etc. If a fire comes and your are out $100,000 don't expect the employer to step into the rescue. There are both legal and tax reasons why they cannot.

International personal liability needs to be purchased by the expatriate before the international assignment as well. This is basically "net worth protection" for the family as they live outside the home country. Although the incidence of lawsuit outside of the U.S. is lower than it is in the U.S., this coverage is still essential. One can cause damages for a variety of reasons that are not related to the work assignment. If not directly related to "work" the employer would not be able to step in and cover these personal lawsuits or damage awards. Good policies here also cover the legal fees in the host country and provide "trip" coverage back in the U.S.

Home country plans or vacant homeowners insurance in the U.S. only covers the dwelling. These policies would not cover the personal insurance needs of expatriates living abroad and separate arrangements need to be made past vacant home insurance.

Vacant Home Insurance Winter Checklist

As a final reminder to clients for the winter season, please make sure you are aware of all of the following regarding your vacant homeowners insurance or vacant condo insurance for the winter season.

1. Make sure the heat is on and set to at least 60 degrees or warmer.
2. Make sure the home is visited inside, at least once a week. Although the heat in the vacant condo or house could be on, boilers may not fire and heaters can break. Pipes can freeze in as little as 48 hours.
3. Make sure the water (at the main valve) is shut off. A water leak where the water could have easily been turned off, and where the underwriters have not approved that the water could remain on in the vacant home, can become a denied vacant homeowner's insurance claim.
4. Make sure snow and ice is cleared. You can be sued if someone is hurt and you did not keep up on the house with basic care and maintenance like snow removal.
5. Make sure pools and hot tubs are fenced and covered.
6. In lieu of keeping the heat on, the water pipes should be professionally drained of all water.

This is our winter 2010 - 2011 checklist for vacant home insurance and vacant condo insurance.

Largest Winter Claim for Vacant Homeowners Insurance

Now that we are quickly into the winter months, we would like to remind Vacant Home Insurance Now clients that the number 1 claim in the winter for many States is frozen pipes for vacant or empty homes.

All clients with vacant home insurance are not only expected to visit the property (or have someone visit) 4 times a month or more, but either the heat must be left on or the pipes need to be totally removed of water so they do not freeze.

If heaters in the home are left on they need to be checked. Oil burners can find dead spots and not "light" leaving the temperature in the home to drop. In some States, a home without heat can have frozen and burst pipes in under 48 hours. Those with vacant home insurance would only have coverage for this claim if they took the proper care and could demonstrate they had left the heat at 58 or above, and had someone or a property management service regular check the property to keep the vacant homeowners insurance valid.

Neglect is a reason to deny a claim and frozen pipes can easily cause over $25,000 in damage.

Of course, those with vacant home insurance should have the main water supply off whether the pipes are drained of water or not, and this helps control damage if pipes freeze.

When renewing vacant home insurance or vacant condo insurance, make sure you inform the mortgage company!

Clients than have purchased vacant home insurance should not wait until the "last minute" to renew the vacant homeowners insurance policy. The reasons have to do with the demands of the mortgage company.

In most cases, vacant home insurance can be renewed just a few days before the lapse date or termination date but we don't recommend this. Although there may be no lapse in coverage it can take a week or two for the client to receive the documentation paperwork like the declarations page for vacant home insurance.

If the client has a mortgage, it is up to the client to always be able to demonstrate to the mortgage company that good insurance exists on the property, vacant homeowners insurance or otherwise. It's within the right of the mortgage company to secure forced placement insurance coverage if they believe the client has been delinquent in their duty to always protect the house with good insurance coverage.

Vacant Home Insurance Renewals

Clients that purchase vacant homeowners insurance through XN Financial Services, Inc. using a Lloyd's of London policy are reminded that it is the responsibility of the homeowner to contact XN Financial if they need a renewal. Although processes and procedures have been put in place where longer term clients are contacted via email about expiring vacant homeowners insurance policies and what needs to be done to obtain a renewal, vacant home insurance is typically used on a "one time special circumstance" situation and is not regular homeowners insurance where a renewal is expected year after year.

Because clients that purchase 6 month, or one year policies most often DO NOT renew, it is the responsibility of the policyholder to reach out to XN Financial at www.xn.com, service@xn.com and by calling 514-908-1835 if they need a renewal.

Most policies that are allowed to expire cannot be backdated and no coverage for vacant home insurance will exist after the expiration date on the declarations page. Claims will not be honored on any vacant house after the expiration date. XN Financial is not responsible if there are claims on homes after the expiration date.

Vacant Home Insurance Policies to be Written and Serviced by XN Financial

Effective immediately, all new vacant home insurance policies written for those that make inquiries for vacant homeowners insurance through this website (www.vacanthomeinsurancenow.com) will be quoted and serviced by XN Financial Services, Inc. (Montreal-Canada and Boca Raton, FL)

Vacant Home Insurance Now is a website that educates homeowners on the special insurance needs of homes that are empty, vacant, or unoccupied. Those requesting a quote for vacant homeowners insurance can leave information through a contact form about the house needing special insurance, and they will later be contacted by someone able to provide additional information.

The website vacanthomeinsurancenow.com used to use locally licensed agents to quote and place vacant home insurance and these duties have now been taken over by XN Financial Services, Inc.

Notice to Expatriates Regarding Vacant Home Insurance Offered From Relocation Companies

Expatriates taking an overseas assignment often decide to keep their home in the United States, particularly if the international assignment will be under two years in length. For many, this will lead to a vacant home insurance problem and the proper vacant homeowners insurance will be needed.

Expatriates that leave their home to work abroad, that intend to have a renter or a house sitter, need to understand they still need to switch their insurance over to a landlord tenant insurance policy especially if a non-family member will be renting or just "watching" the house as a live-in.

Expatriates taking an assignment for larger companies may be asked to work with a property management company for vacant homeowners insurance. These companies may offer their own vacant home insurance solutions. Expatriates are advised to make sure these vacant homeowners insurance solutions are all-risk and true replacement cost policies.

In addition, the relocation company may ask that the insured name the property management company on the declarations page of the vacant home insurance policy. This is a practice that is getting more common but it's unnecessary. They feel being named on the policy will help protect the relocation company and many insurers will accommodate this but there is no reason why this has to be if you, as the insured, is not comfortable with it. Relocation companies may also pressure expatriates to buy their own insurance solution or to buy extra liability insurance. Again, most of this is to benefit the relocation company and not the expatriate. If you purchase quality vacant home insurance, there is no reason they should not be able to provide full property management services and they do not need to be named on the insurance policy.

Vacant Home Insurance Now Website to Be Sold To XN Financial Services, Inc.

It was announced today that pending a few minor details, the website Vacant Home Insurance Now (.com) will be sold to XN Financial Services, Inc (Boca Raton FL and Montreal Quebec Canada). XN Financial is a leader in vacant home insurance with insurance backed by Lloyd's of London.

The vacant homeowners insurance products offered by XN Financial and sold through vacant home insurance now (.com) will be available both domestically in the United States, Canada and in the U.K., as well as for those on international expatriate assignment.

In 2010 the market for vacant home insurance is made up of specialty providers like Lloyd's of London. No large, mainstream domestic homeowners insurance companies have a vacant home insurance product they can offer clients when homes become empty, vacant, or unoccupied. People with homes that are empty for just 60 days should know to look into a vacant homeowners insurance policy to maintain proper coverage.

U.S. Contractors Working Abroad May Need Vacant Home Insurance

Hundreds of thousands of people leave the United States and Canada in order to take jobs in other countries, either as employees or independent contractors. These people need to know that if the home is left empty for just 60 or 90 days, with some homeowners insurance companies, vacant homeowners insurance (also called vacant home insurance) may be necessary.

"We have seen people that have taken 3 year job assignments abroad and they never even consider the vacant home insurance issue at all. What's more, they don't tell their agent or their insurance company the home is not occupied or vacant."

This is a big mistake. As we have seen, coverage can be cancelled or claims can be denied during the claim adjustment process. Employees going to work overseas seem to do a better job in other areas like international medical insurance and international workers compensation insurance, but they often forget about the vacant home insurance entirely.

Vacant Homeowners Insurance Renewal Process

Vacant Home Insurance Now (.com) would like to remind clients that the responsibility to renew a policy is the responsibility of the insured and/or the owner of the vacant home insurance policy. Although for longer term policies we will make every attempt to contact the policyholder about the renewal, email addresses can change as can phone numbers. We do not mail a "hard copy renewal" letter.

Vacant home insurance is a "special needs" policy written for a limited term of insurance like 90 days, six months or one year. Most policyholders end up selling the home, or it is no longer empty and don't even need a renewal. It is for this reason, if a renewal is requested it is the responsibility of the insured to contact us at least 4 days before the termination date of the vacant home insurance policy.

If the policy is allowed to lapse, it is not the responsibility of the owners of this website, nor the Lloyd's of London coverholder. Please call us if you have any questions.

USA Today from Census Reports there could be 14,000,000 vacant homes in the U.S.

Of the 14,000,000 possible vacant homes in the U.S. reported by the USA Today via the recent census, how many need vacant home insurance (also called vacant homeowners insurance)? Well, certainly not all of them, but we estimate the number to be in the millions.

Why wouldn't a house in this situation need it's own vacant home insurance?

1. The home is abandoned
2. The house is boarded up or burnt out
3. The house in under construction and under a builders risk insurance policy.
4. The house is owned by a bank or mortgage company and under a master group vacant homeowners insurance policy or the bank self insures the vacant dwelling risk.
5. The house is owned by a corporation, perhaps being bought out by a corporate relocating employee because it did not sell in time. Many of these homes are not under a vacant home insurance group policy because the corporation may actually self insure the risk.

Other than this, the millions left over, need vacant home insurance or the house in not protected properly. How many are protected properly... we can only guess. We suspect only about 25% are protected in the right way which is a scary statistic meaning there could be over 1,000,000 uninsured or improperly insured right now.

Buyer Beware Most Vacant Home Insurance Policies are Limited Named Perils Coverage

A homeowner has a house that becomes empty or unoccupied (and they are one of the few that understand they need vacant home insurance!) They shop the market and take the lowest bidder because they figure this will be a short-term situation and don't want to pay for the best.

What most buyers don't realize about vacant homeowners insurance is that most policies available in most States are not "all-risk insurance" but only offer what is called a limited named perils policy or a dwelling policy (DP1 or DP3). Most people do not read their insurance policy document before they buy. Most will assume the level of coverage offered by the vacant home insurance policy is the same as what they had when they were living in the house. With most policies on the market, this is not the case.

Most policies offered by the large reputable companies when you are living in the home and the house is occupied, are true all-risk policies. When people move to a vacant home insurance policy they may only have coverage for fire, smoke, hail, lightning, and just a few more perils. (far from all risk insurance and few will realize the drop in coverage)

Vacant Home Insurance Now (.com) offers the highest quality of coverage called all-risk and replacement cost, two essential features in quality insurance.

Mortgage Reporting for Vacant Home Insurance Policies

Clients that buy a vacant homeowners insurance policy with Vacant Home Insurance Now, or any other provider, need to understand their responsibilities with their mortgage company or bank. Whenever there is a change of insurance, and especially a move from regular homeowners insurance to vacant home insurance policy, the mortgage company needs to be informed by contract.

Clients should start by calling the insurance department of the mortgage company and simply informing a representative that vacant home insurance has been placed. Some may simply take the information over the phone, but most will require the insured to send in the new declarations page for vacant home insurance. There is no need to send the mortgage company the entire policy document, only the 2 or 3 page declarations page will be fine.

Unfortunately, most will not allow you to email this document, but most will accept a fax in lieu of mailing the hard copy.

Homeowners need to remember two important things:

1. That whenever there is a change in insurance they need to inform their mortgage company.
2. If the mortgage company feels, at any time for good reason, the vacant home is not property protected, they can take action to put insurance on themselves. This is called forced placement and this action is not desirable to insureds.

Make sure the mortgagee always has up to date declarations on the vacant home insurance to avoid problems and expense.

Approximately 15% of International Property Insurance Group Clients Have an Unprotected Vacant Home

International Property Insurance Group provides international property insurance to expatriates that reside globally. Vacant Home Insurance Now (.com) works closely with IPI Group to meet the vacant home insurance needs of expatriates residing abroad that keep an empty or unoccupied house in their home country that need vacant homeowners insurance.

IPI Group is beginning to ask U.S. expatriates about vacant home insurance needs and the results have been almost shocking. Only about 1/3 of U.S. expatriates living abroad working for a U.S. or foreign company keep a home. Of those that keep their home, about 1/2 have the house empty and the other 1/2 have a family member or someone else living in the house. For those that have an empty home, over 90% had not secured vacant home insurance! Of those that did not buy vacant homeowners insurance for the house, about 95% were totally unaware that it was even necessary.

When a house sits empty for over 90 days, vacant home insurance is absolutely necessary in almost all cases, and without exception. The more time a house is unoccupied over 90 days, the better chance the current insurer would not cover claims or losses. Also, the existing insurer in almost all cases does not have a vacant home insurance product they can offer clients.

When a Vacant Home Becomes Rented, is vacant home insurance still needed?

Many clients of Vacant Home Insurance now are looking to rent their home, but can't find a renter. A home should not sit unoccupied for more than 60 days in most cases, and if a renter cannot be found for a home, vacant homeowners insurance is almost always necessary.

But what if vacant homeowners insurance is put in place, and then a renter is found. Here is our policy. If a client buys, say for example, a six month vacant home insurance policy, the owner of the policy can put a renter into the home at any time. This in no way violates the policy and is an advantage of VHIN policies. With other insurers, some clients could be forced to cancel the vacant home insurance policy and set up a new landlord policy which is administrative aggravation.

At renewal time, VHIN's insurance company and underwriters are able to continue the insurance but apply a discount because the home is now occupied, which means less risk. To insureds, it's a seamless transition with a discount. Our process could not be any easier and is does NOT require a cancellation of the vacant home insurance policy to be replaced with another.

Housing Market Stalls Causing More Vacant Homes

The housing market in the Spring of 2010 made a "dead cat bounce" and homes not selling and sitting empty this summer means the need for vacant home insurance. Most people are overly optimistic regarding how quickly their home will sell. Everyone thinks their home is special and will out-compete the competition. Many of these people will move into a new house while the old one sits on the market. In 2010 this is extremely dangerous.

After the home sits empty for just 60 to 90 days homeowners may need to purchase vacant home insurance. Their existing homeowners insurance company will not offer a vacant homeowners insurance policy so they will have to switch carriers. Their existing homeowners insurance company will not continue to cover the empty home while the family moves into a new home as you cannot have two "primary residences." Vacant home insurance is also expensive, and will cost about 3 x to 4 x the previous cost of homeowners insurance.

Vacant Home Insurance Now (.com) has noticed many people having to continually re-up and renew their vacant home insurance and vacant dwelling insurance program because, to but it simply, homes are not selling well in the summer of 2010. The market is not an F, but no better than a C-.

The Vacant Home Insurance Refund Process

Many people have asked us, if a Lloyd's of London policy is chosen for vacant homeowners insurance do they have to commit for the entire six month policy period and if not, what is the refund process for vacant home insurance policies.

The Lloyd's of London vacant home insurance plan is a minimum six month program paid in full but 90 days of premium can be refunded for early cancellation. There is a one time policy cost typically of about $65 that is not refundable but 1/2 of the pure premium is fully refundable.

The bottom line is, clients are only "on the hook" for 90 days of paid coverage and the rest of the premium in these vacant homeowners insurance policies is fully refundable. This also applies to policies for vacant condo insurance and vacant townhouse insurance in all States where the program is available.

Prepping a Vacant or Empty Home

Vacant Home Insurance Now is often asked what needs to be done to prepare a vacant home, whether the owner is buying vacant home insurance or not. However, we would like to remind people that in almost all cases where a home will not be occupied for over 90 days, vacant homeowners insurance is needed to property protect the house.

1. Turn off the water. Vacant homeowners insurance claims from water damage caused by the house's own pipes and fittings is 100 times more common than claims from rain, streams, and rivers. If you cannot turn off the master water valve, for example, it's a common water supply for the entire condominium, then turn off the valve at each toilet. Post signs for prospective buyers and Realtors that if they turn the water on, PLEASE remember to turn it off again!
2. Anyone buying vacant home insurance cannot neglect the house in any way or the policy will be voided. This means keeping the grass cut at least once every two weeks in the growing season.
3. Turn off the mail
4. Have someone enter the vacant home at least once every 7 to 10 days. This is actually a requirement in most good vacant home insurance policies.
5. Make sure the heat is on during the winter months, or if the house is going to remain cold in areas of the country that freeze, make sure all pipes are drained properly or damage can be significant, and many of these claims will not be paid by a vacant home insurance policy if things are not done properly.
6. Make the house look lived-in. Leave curtains and shades up. Set two lights on timers. Nothing says "vacant house" more than empty windows and pitch black windows.

Vacant Homeowners Insurance for Vacation Homes?

At Vacant Home Insurance Now (.com) perhaps the # 1 question we are asked is the following:

"I am selling my home and moving into another home so I need to buy vacant home insurance on the house I am selling that will be empty for several months while I sell. Why do I have to buy vacant home insurance which is expensive when my neighbor has a second home insured, a vacation home, that's empty most of the year, and he pays 60% less!"

This is an excellent question regarding vacant homeowners insurance. The answer is:

If you can call your empty home a "second home" or "vacation home" by all means do so to save money, but you can't manipulate the facts or risk insurance fraud. Don't let your agent "manipulate" the policy either. Your neighbor may have a legitimate second home or a vacation home, and if he/she can insure this home along side the primary home, it will be much less expensive than buying vacant home insurance. Here the insurer is able to insure the "second home" at a lower rate because they have all of the other client's business in one big package: primary home, car 1, car 2, liability blanket, second home, life insurance, more?

Those that attempt to game the system will mostly likely lose. A major claim on the "second home" that's not really a second home or vacation home will be investigated by an insurance adjuster, and in person. If they find you had set the house up as a second home or a vacation home, and it's really just a home for sale or another situation, the claim will be denied.

XN Financial Services an Industry Leader in Vacant Homeowners Insurance

Vacant Home Insurance Now (.com) partners with XN Financial Services, Inc. a leader in vacant home insurance programs in the United States and Canada. XN Financial is a Lloyd's of London coverholder that has both underwriting and claim payment authority to offer what we consider to be the highest quality vacant home insurance product in North America. They can also offer high valued homeowners insurance and vacant programs in other countries as well.

Most vacant homeowners insurance programs are a limited form of insurance coverage called a Dwelling Policy. XN Financial services working with certain syndicates at Lloyd's of London and has modeled an "all risk" and full coverage program based on HO3 Homeowners policy language. This type of vacant home insurance program is very hard to find in the U.S. and Canada, and is a superior offering.

Please contact Vacanthomeinsurancenow.com for more information on this best-in-class vacant homeowners insurance program.

Vacant Home Insurance Non Renewal Notice; Beware

Clients of vacant home insurance now often learn that vacant homeowners insurance is necessary after they report they have moved to the existing insurance company at renewal time. In order to renew the policy they may "call in" or mail their new address to the existing insurance company. As we have discussed, 95% of clients are then "blindsided" by their insurer when they learn that their existing policy cannot provide vacant home insurance.

Here is where things get interesting. Clients will receive a notice of non-renewal in the mail from their existing homeowners insurance company. The question I ask clients is, even though they will not be renewed, will the existing homeowners insurance policy honor a claim on the vacant home until the renewal date? One should not assume yes.

Something worth noting regarding vacant homeowners insurance; just because you are not being renewed does not necessarily mean the existing company will honor claims on the vacant home. Those in this situation should make sure they get it in writing that all claims will be paid normally on the vacant home until the date of the renewal, or in this case the non-renewal or cancellation date.

Clients that don't get a straight answer are advised to secure vacant home insurance sooner rather than later or they may be taking big risks.

Obamacare may require U.S. citizens living abroad to purchase U.S. qualified health insurance

At Vacant Home Insurance Now, of course we specialize in vacant homeowners insurance but since we deal with many Americans living abroad that need to insure their unoccupied house in the United States, this may be relevant to all of our overseas clients.

As it stands now, it looks like the new healthcare insurance legislation would require Americans that live overseas to buy qualified health insurance, even if they don't need it. This is what we are hearing and I am sure the bill could be changed over time but this is something people living abroad need to be aware of.

Many Americans living overseas have taken out local insurance policies in the country where they reside and some even participate in the National Health Insurance System of their host country. Many do not want to be forced to buy U.S. qualified healthcare.

More to follow as Vacant Home Insurance Now follows this situation for our customers.

A Louisiana bill would ban insurance cancellations due to the Chinese Drywall problem

Last year, Vacant Home Insurance Now reported on a problem homeowners were having with "bad" and corrosive drywall used after Hurricane Katrina. In summary, insurance companies did not want to touch any homes not just vacant houses, with this problem and homeowners were left out in the cold and had to spend thousands to replace the drywall before they could again seek insurance.

A prohibition against insurance companies dropping coverage for dwellings that contain corrosive, Chinese drywall moved forward Wednesday in the Louisiana Senate. Again, this pertains to any form of homeowners insurance not just vacant homeowners insurance in Louisiana.

The bill would stop property insurers from canceling, refusing to renew, or increasing premiums or deductibles because of Chinese drywall at a property. People who rebuilt their homes after Hurricane Katrina claim the imported drywall emits sulfur, methane and other chemical compounds that have ruined homes and appliances and harmed residents' health. The contaminated wallboard is costly to replace.

The bill only deals with drywall that was imported from or manufactured in China before Dec. 31, 2009. Anyone found in violation would face a penalty up to half the insured value of the home or property, plus all court costs and attorney fees. It is still unclear if insurance companies that quote vacant home insurance can still use "Chinese Drywall, as a reason to not quote vacant homeowners insurance.

Gulf and Atlantic Coast Rated Higher for Vacant Home Insurance

The rates for vacant homeowners insurance have been relatively stable for years but the cost to insure an empty or vacant house in Georgia, Florida, South Carolina, North Carolina, and Virginia is now about 15% higher than providing vacant home insurance in Ohio, Arkansas, or Oklahoma for example.

It appears the "hurricane underwriting" that hit those regions several years ago has now affected the vacant homeowners insurance market as well.

When insuring an empty home with vacant home insurance, other States where the cost is above average (and this can depend on the insurer) is lead by California and can include Maine, Oregon and Washington State.

Insurance agents are advised to let clients know that if they are in these States, they may be paying more for vacant home insurance. This is somewhat of a problem because vacant homeowners insurance and vacant building insurance is at least 3 times as expensive a regular home insurance anyway.

Study shows thousands have still not reported to their insurance company that their home is vacant

There is only one way to cover an empty or vacant home, with a vacant home insurance policy. No matter what an agent tells you, there is NO OTHER way to cover a home that is vacant or unoccupied. So, why are there still thousands of homeowners with vacant homes but no vacant homeowners insurance? Here are the top reasons

1. They simply don't know they need vacant home insurance. Insurance companies don't do a good job letting clients know they won't insure homes that are unoccupied for just 60 to 90 days or more.
2. Vacant home insurance is expensive, and to avoid the cost, many homeowners won't inform their homeowners insurance company that the home is vacant, hoping they won't have a claim or hoping for the best if there is a claim. Thousands play insurance Russian Roulette.
3. They have gotten bad information from a friend, Realtor, or even an insurance agent. Does the agent even know their own insurer's limit on the time a home can be empty. It sounds impossible but many won't know. Also, many don't want to lose their commission and we have seen many "bury the paperwork" or provide bad advice to the home owner.

The rule is not flexible. If a home is empty, vacant, or unoccupied for over 90 days, and not under major repair or renovations they only way to cover the home is through vacant home insurance.

Snow Load Leaves Vacant Home Insurance Insureds Thinking About Policies

The East has seen over 50 inches of snow this year. Normal, yes, for Lake Tahoe CA, Crater Lake Oregon and Buffalo NY but not for New York or Washington D.C. Across the U.S. people with vacant home insurance policies are learning, quite frankly, that their policy is not very good.

When 36 inches of snow and ice sit on your roof, now is not the time to learn you have poor vacant home insurance coverage. Most vacant home insurance is very limited in scope, and is not comprehensive all-risk homeowners insurance. Many insureds buy policies and don't even know the list of named perils they are covered for in the vacant homeowners insurance policy. Some policies may be fire only! Some are fire, wind, smoke, and hail. These are not good homeowners policies.

After 3 blizzards people tend to pull out their policy and hope they have good coverage. Vacant Home Insurance Now (.com) always provides the very best programs, and stopped offering limited coverage options a long time ago. Vacant home insurance now has done the comparisons so clients do not have to.

Underwriting Factors offering Vacant Home Insurance Discounts

When it comes to vacant home insurance, a good low cost solution does not exist in the United States. Vacant home insurance is 3 times to 5 times as expensive as regular homeowners insurance in most instances, and there is no way around this if you want a good policy.

Even "fire only" policies may be more expensive for vacant homeowners insurance than regular homeowners insurance and what are you getting, fire only!

There are certain factors that can get you the best rates possible for your vacant or empty home during the vacant home underwriting process. These are listed below

1. Will the vacant home be visited at least 4 times per month? Homes that don't get 4 visits are loaded or not rated at all. Visits mean inside inspections not grass cutting.
2. How long as the home been uninsured or is the home currently insured.
3. Is the vacant house within 1000 feet of a fire hydrant and within 5 miles of a fire station
4. What is the type of construction on the empty home? Brick and mortar is better than wood frame and cedar shake.
5. Is the home in a coastal community or a beach community.

Insurance Companies Not Doing the Right Thing Regarding Vacant Home Insurance Risk

As we move into 2010 continuing to insure vacant apartments, vacant houses, and vacant townhouses as our specialty, we unfortunately can still say that 9 out of 10 customers had NO IDEA their existing homeowners insurance company does not provide vacant homeowners insurance. In other words they came to us out of last minute desperation. The fact that clients are continually blindsided and blown away proves the homeowners insurance companies are not doing enough to communicate to their clients that they do not insure vacant homes and vacant town houses.

We propose the industry inform clients of their exact policy regarding vacant home insurance at the time of the initial sale. In many instances, the policy document may not even address the terms and conditions regarding vacant home insurance but long term customers will be promptly cancelled if a house becomes empty or a town home becomes unoccupied for just 60 days.

Because of this "don't ask don't tell" policy as we see it in the industry, we estimate there may be over 10,000 homes across the United States that are either not covered at all, or not covered in full because of a vacancy situation and the customer does not know they are at risk.

Vacant Home Insurance on the Rise in 2010

Vacant Home Insurance now (.com) saw a massive influx of empty and unoccupied houses in 2009 due to the current economic conditions. The trend is not expected to decrease in 2010 as the amount of homes that sit on the market that cannot be sold is not decreasing in most real estate markets in the United States.

Vacant home insurance is needed when a seller of a home has moved out, and the home has been unoccupied for over 60 days in most instances. What's more, most sellers do not think there is any problem with this situation and do not even inform their existing homeowners insurance company that the house in vacant! The big homeowners insurance companies don't do a good job informing clients that they are not going to insure empty homes either. People are caught off guard.

What we see is homeowners finding out they need vacant home insurance by accident, contacting the existing insurance company due to a change in conditon or to respond to an inquiry at renewal time, and even to report an address change.

"When they make this call the last thing they expect is to be cancelled."

It's at that time they are given the word they are being cancelled and told the existing homeowners insurance company cannot provide vacant homeowners insurance coverage.