Insurance on an Empty House

My husband and I have inherited the house that belonged to his parents. It is in need of some major renovation, which is in progress. It is located 2 minutes from our current residence and we work on it almost daily. However, until we reach a "liveable" stage of renovation, we do not plan to move over there. 

Our current insurance agent says it is impossible to buy insurance for a vacant house. We are very concerned about having NO insurance due to possible vandalism. Can you help us find insurance coverage for this house in the interim until we move into it?

 

 

Answer:

You need to keep looking for another insurance carrier. You might want to consult with a local insurance broker, in order to find someone who works with multiple insurance companies. While your current company may not insure empty houses, another company could, especially if a broker could present the full set of circumstances (like your family working on the property daily). After all, builders get insurance for building sites even when the homes under construction are not yet occupied.

 

You might even consider phoning some local contractors and find out the companies that they deal with when insuring a construction project. You might have better luck.

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