Expatriates that sell their home in the U.S. in order to relocate abroad for a corporate expatriate assignment may keep their homes if the expatriate assignment is going to be 3 years or less. If the expatriate assignment is expected to be more than 3 years, 90% of expatriates will sell their home. For those that keep their home, expatriate vacant home insurance is essential. Other essential insurance includes international medical insurance and international workers compensation insurance .
What is expatriate vacant home insurance? It is a special type of homeowners insurance that is designed to cover a house that is considered empty, vacant, or unoccupied. In the eyes of vacant homeowners insurance carriers, these words do not represent the same definition.
A rule of thumb that we have never seen broken, if you recognize the name of the homeowners insurance company (as a big name insurer) they do NOT have a vacant home insurance product they can offer customers. Only in the secondary or speciality market can expatriates find vacant home insurance policies that meet their needs.
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