When Property Management is Recommended

Vacant home insurance now recommends hiring a professional property management firm to take care of a house that is not occupied or considered "vacant" by the insurance company in two situations:

1. The person owning the vacant home is not living in the State and the house is expected to be vacant or empty for over six months or longer.
2. The home is expected to be vacant or empty for over one year, no matter where the owner is.

Of course, an American living overseas on a company job assignment would qualify for both above and almost always should have hired a professional property manager to take care of a vacant home.

Vacant home insurance policies do not require that people hire a professional property management service. If the person owning the home has a relative or close friend that is very reliable that can come over and visit or service the property 4 or more times a month the terms of the vacant homeowners insurance policy can be satisfied. However, if the person you are trusting to take care of the empty or unoccupied home is not perfectly reliable and the upkeep on the property begins to go down hill, there is a risk the vacant home insurance policy could deny claims based on what is called "neglect"a common exclusion in a vacant home insurance policy.

XN Financial Vacant Home Insurance Policy, a Perfect Hybrid

One of the unique features of the vacant home insurance product offered by XN Financial Service, Inc is their vacant home insurance product is a true hybrid. What does that mean for the purchasers of vacant homeowners insurance and more importantly for people living out of State or even abroad?

If a home is empty of vacant, the ONLY way to cover it is through a vacant home insurance policy. If a home is going to be rented, a homeowner would need to put in place a landlord tenant policy. In the past, homeowners had to flip policies back and forth as they got a renter, lost a renter, and so forth. A real hassle, especially for someone living overseas.

If someone purchases our vacant home insurance policy and then they get a renter in the house, there is very little they need to do. The policy can remain in force. On the other hand, if the house is being rented and the renter leaves, there is no need to cancel the policy and find a new policy which is very labor intensive. The insured can stay with this policy. They would simply have to inform us that the house is now empty. The main advantage; the policy would not have to be re-written.