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.