Vacant Building and Unoccupied Home Insurance: What You Need To Know

A vacant building stands on the corner of a strip mall

If your home is left unoccupied, your home insurance policy most likely won’t provide coverage in the event of a claim. Unoccupied homes or buildings are more vulnerable to break-ins or sustained damage in the event of a fire or leak, making them more difficult to insure. Here’s what you need to know about vacant building and unoccupied home insurance. 

What is considered a vacant home or building?

A home is considered vacant when there is no personal property inside the home to allow for someone to live there. Additionally, a home is considered unoccupied if it is left alone for longer than 30 days. A building, however, is considered vacant when less than 32% of its total square footage is occupied. 

Why do I need unoccupied homeowners insurance for my property?

Unoccupied properties have an increased risk of theft, water damage, vandalism, wind damage and other losses. Unoccupied homeowners insurance provides coverage for claims that otherwise would go unpaid by your home insurance company if such damage were to occur. If you have a rental property, you may need to consider other coverages, such as vandalism or burglary coverage, to add to your rental property insurance

How to Buy Homeowners Insurance For a Vacant Home 

Whether you have a rental property or a vacation home, your vacation home insurance coverage will be different from your normal home insurance coverage. However, you can likely purchase home insurance for either your vacation or vacant property through your current home insurance carrier. Some carriers offer coverage for vacant homes through endorsements or separate policies, and while you can find coverage through the same carrier as your primary home insurance policy, you may expect to pay higher premiums. 

How to Buy Homeowners Insurance For a Vacant Building 

As you shop and compare homeowners insurance for a vacant building, you’ll want to tell your agent that your building is unoccupied, that way they can make sure you get the proper coverage. Vacant building insurance coverage can help protect your property from water damage, theft and vandalism, even if your building has been vacant for more than 60 days. You also may be able to add a vacancy permit endorsement to an existing policy. 

SelectQuote Can Help You Save on Vacant Home and Property Insurance Costs

Having the right home insurance coverage for your vacant home or property will give you peace of mind. By working with SelectQuote, we can provide home insurance quotes from some of the most trusted carriers in just minutes and find you a policy that ensures your vacant home or property is adequately protected.

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