Managing the Risks of a Vacant Holiday Home
It’s almost everyone’s dream to own a vacation home in a nice location away from the bustling city. But vacating a home for a long time makes it vulnerable to many external and internal risks. Protect your dream home and financial interests by managing these risks.
Theft and Vandalism
Vacant homes, especially in high-traffic areas, attract thieves and vandals. Keep your furniture and belongings safe by installing reinforcements to the windows and doors and keep the security system activated. Ask a friend or hire someone to keep an eye of your house regularly. And finally, be cautious when sharing private information to your social media pages.
Fire and Water Damage
A vacant home tends to wear faster than when it is occupied and constantly used. Without proper seasonal maintenance, structural components might weaken. If possible, it pays to check up on your holiday home once in a while to inspect potential damages and give it some seasonal TLC. Weatherproof your home, especially the pipes and wood components, before the next season sets in. Fire-proof your home during wildfire season or protect your losses with a dwelling fire insurance policy.
Insurance carriers tend to take away important coverage when they discover that the owners have vacated the home, regardless of the length or purpose. The risks are even bigger if the home is left vacant, meaning there is little to no furniture or personal belongings left within the property.
Protect your home from uncovered losses by switching to an alternative insurance carrier that specializes in unoccupied vacation homes. This niche specifically targets your special needs. But since the market has grown over the years, so did the options.
To help you decide which coverage fits your situation, it’s wise to talk to an insurance agency specializing in vacant or unoccupied vacation homes such as VRI Agency. If you’re planning to rent out the property, we also have specific policies for that.
Get in touch with one of our agents today and we’ll gladly discuss your options with you.