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.