It was reported recently that vacant homes may need special insurance coverage. An empty unsold house 
is a problem. When a homeowner moves out and the house remains empty, it may continue to be protected by homeowners insurance for risks such as fire, as long as the premium is paid. But after 30 days of vacancy, things like vandalism, water damage caused by broken pipes, and theft are no longer covered. Some policies cease coverage after 60 days. Exclusions in coverage for vacant properties are not new. Insurance companies believe that damage to a home is more likely when no one is living in it and that certain things grow worse with inattention. They even reserve the right to cancel what coverage remains in force when they learn of an extended vacancy. This potential gap in coverage could be a problem for owners.
Check with your insurance company to see if they provide you a policy such as "Vacant Property & Liability Insurance". If not, Coldwell Banker is affiliated with NRT Insurance Agency and can give you a quote. Their number is (888) 717-1776 or visit their website at www.nrtinsurance.com.
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