Not everyone loves insuring vacant homes. But Foremost does!

If your rental property becomes vacant, will you still have coverage?

Your rental property has just been vacated and you want to take some time to screen new tenants or make upgrades to your property.  Does your coverage change now that the home is vacant?  To avoid surprises at the time of a claim, it’s crucial to know exactly what your policy covers. 

Review your policy today for restrictions.  Here are some points to check regarding coverage on vacant property:

• Will your policy immediately terminate when the home is vacated? 

• If not, how long will coverage continue for named perils like fire, explosion, lightning, vandalism, windstorm and hail damage? 
• What happens if you decide to renovate?
• Does your carrier offer a separate policy for vacant property?  

Not everyone loves insuring vacant homes.  But Foremost does.  That’s why they also offer a specific program for vacant homes that provides a full 12-month policy with pro-rata cancellation and the choice to stay insured for up to 24 months.  The home can be for sale, in the name of an estate or under renovation.  Coverage includes common perils, plus options for liability, personal property, vandalism and malicious mischief. 

Not sure what your policy provides?  Call me to discuss your coverage and find out more about the Foremost Vacant program.

One call will give you the insurance you need to protect your investment. We’re proud to represent Foremost Insurance Company. Foremost is the leader in specialty insurance, and they have a policy specifically designed for the needs of owners of vacant homes. Some highlights of their policy are:

• Pro-Rated Cancellation – Foremost’s vacant policy is written as a full year policy, but customers can cancel at any time, subject to a minimum earned premium. Other companies may offer a three or six month policy, but they won’t refund any premium if the customer cancels during the term.

• Up to Two Years of Coverage – Unlike most carriers, Foremost will allow the risk to be insured for up to 24 months.

• Higher Liability Limits – The Foremost program includes higher liability limits than many other companies’ programs. We also offer higher deductibles.

• Vandalism Coverage – Foremost offers optional Vandalism coverage – many companies do not.

• No Restrictions on Age – Some carriers don’t want older homes, but Foremost has no restrictions on the age of the home.