Tom's Blog
How to Protect Your Vacant Home
Having N.C. homeowners insurance to protect your home isn’t as simple as it might seem. Your policy includes provisions, conditions, and exclusions that can affect your coverage. Many people don’t realize that leaving a home for an extended period could compromise their homeowners insurance coverage. According to the National Association of Insurance Commissioners (NAIC), your home may count as vacant if it remains unoccupied for 60 days or more. Because standard N.C. homeowners policies include a vacancy exclusion, leaving your home vacant might lead to a coverage denial if you experience a loss. Do you know how to protect your vacant home if you need to leave for an extended period?
Imagine moving out of your home completely, only to discover that vandals have damaged your windows, appliances, walls, and exterior brick. You had no idea this happened because you were gone for four months and didn’t inform your local N.C. independent insurance agent about the vacancy. Now, you’re dealing with a coverage denial and a potential policy cancellation, leaving you responsible for all the damages. Scenarios like this happen often with vacant homes, which is why the insurance industry enforces vacancy exclusions.
Vacancy Can Be Vague
The difference between a vacant home and one that’s merely unoccupied can seem unclear, leaving insurers to investigate and determine the status. If you plan to leave your home or expect to be gone for an extended period, always inform your local N.C. independent insurance agent. This ensures a plan of action or insurance solution can be put in place.
A vacant home is completely empty of belongings (clothes, furniture, decorations) and people. For instance, if you’ve moved out entirely and your home is on the market for new owners, it’s considered vacant. In this case, contact your insurance agent to explore whether a vacant dwelling fire policy suits your needs. This type of policy protects the structure itself in case of fire.
An unoccupied home, however, still contains belongings, but you may be away for vacation, renovations, or medical treatment elsewhere. Regardless of the reason, always notify your local N.C. independent insurance agent about your home’s status to ensure proper action and protection.
Small Losses Can Escalate If Undetected
Insurers view vacant or unoccupied homes as higher risks because nobody is present to detect or address losses promptly. For example, if you live in your home and notice a small leak, you act immediately to fix it. But if you’re gone for an extended time, that small leak could grow into thousands of dollars in flood damage. Always take precautionary measures to safeguard your home when leaving it for an extended period.
Contact Paramount Insurance Agency at 336-869-3335 with any questions about your home’s vacant or unoccupied status. We’re here to assist with sound insurance solutions.
