Your home is your most prized possession and biggest asset. Making sure it’s protected is important. If you have a rental or real estate owned property, you can protect it by purchasing unoccupied home insurance.
Certified counselors can guide you along the right path when choosing a plan that works best for you and your unoccupied home.
The Importance of Unoccupied Home Insurance Coverage
Many times homeowners mistakenly think that unoccupied home insurance coverage is neither important nor necessary. Do not fall into that trap and make the mistake of not insuring your unoccupied home.
If your unoccupied home is not insured and a flood, fire, or other natural disaster damages your home, you will have to pay any and all costs associated with repairing the damage.
If a thief or vandal breaks into your uninsured, unoccupied home and steals from or damages it, you again will have to pay any and all costs associated with replacing items or repairing your home.
It is unfortunate, but these situations happen far too often and when they do, we see uninsured homeowners get crushed financially.
Real Estate Owned Property Insurance
REO insurance is very important. Unfortunately, all kinds of accidents happen in REO unoccupied homes. They are especially prone to vandalism and theft. For these reasons REO insurance is a must. Do not run the risk. Purchase REO insurance and take comfort knowing your unoccupied home is protected.
Unoccupied Home Insurance Coverage
Insurance providers will guide you in the process of choosing a coverage that’s best for you and your home. Their assistance is priceless, as they will tell you exactly what you need and don’t need. Typically, coverage plans include peril (explosion, lightning, wind, hail), vandalism and malicious mischief, total and partial loss, and liability coverage. In addition, most policies offer flexible payment plans that allow forms of cancellation should you decide to move into the home, or the home is sold. Make note that cancellations are pro-rated and subject to minimum earned premiums.
Do your research and consider what type of coverage you need then meet with a counselor. They will guide you in your purchase for the right type of insurance plan for your unoccupied home. They will answer any questions you may have and take all your concerns into consideration before providing you with a fair, honest quote that you will be pleased with. When it’s all said and done, you will be satisfied with your new insurance plan.
