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.