Vacant Home Insurance Questions in Light of Japan Earthquake and Nuclear Problems

One of the markets we serve for vacant home insurance is Americans living and working around the world. In light of the current situation in Japan we have been asked to clarify a few points relating to coverage for vacant homeowners insurance. Although we feel our insurance for vacant homes is the absolute strongest on the market, these two perils are not covered as standard, nor are they covered as standard by any policy in the entire market that we know about.

The peril of Earthquake is not covered as standard. This is true with this vacant homeowners insurance policy and all homeowners insurance policies in the United States. In some instances, we and other insurers can cover "earthquake" as a special rider or endorsement but it is not covered as standard.

The peril of nuclear hazard is not covered. Again, this is standard across the industry.

This applies to all vacant homeowners insurance policies issued and vacant condo insurance policies. Please call us if there are any additional questions.

Vacant Home Insurance Now (.com) Featured in the Philadelphia Inquirer Newspaper

Here is a clip from the article on vacant home insurance, March 11, 2011: In the 4th quarter of 2010, 12 percent of all US residences, or 18,394,000, were vacant. Record foreclosures are a big reason for this: After repossessing houses at sheriff's sales, many lenders leave them empty for months.

But even properties that aren't distressed may take a long time to sell after the owners move on. In the Philadelphia region in January, time on the market averaged 103 days, according to a Prudential Market Report.

All of which makes a difference in the kind of insurance coverage such unattended or vacant houses require - coverage that isn't offered in the standard homeowners' policy.

Vacant Home Insurance Now, which offers policies in several states, says up to 80 percent of homeowners do not know that "the provisions of their existing homeowners' insurance policy . . . would essentially end coverage, exposing them to catastrophic loss."

Vacant homeowners insurance is even more important in 2011 and 2012 as foreclosures are expected to increase.