03 May Did vacant home insurance get you through the hail storm?
Whether a homeowner is selling or renting a property, it may not be occupied at all times. The weather can change in an instant, especially in regions where hail and thunderstorms are common. If a hailstorm is approaching, homeowners want to feel confident about their property investment. Consider vacant home insurance to get the property through every hailstorm.
“Perils” are Covered
Read through the details on any potential unoccupied home insurance policy. It should cover more than just malicious mischief. In fact, look for a list of “perils.” These items usually include hail, fire and wind. If the property is struck by hail when no one is currently living there, the vacant home insurance will cover the property. Simply choose a deductible that works for the family’s budget, and no surprises will occur with each hailstorm.
No Sale or Rental Delays
If unoccupied home insurance isn’t active during a hailstorm, property owners are liable for the entire repair amount. A pending rental or sale may be postponed or cancelled altogether if the hail damage can’t be fixed in a timely manner. With valid insurance, estimators can be at the property in a timely manner. They might cover or patch certain areas until the weather is calm enough for permanent repairs. Weathering the storm is what vacant insurance is designed to do for property owners.
Vacant Home Insurance and Severe Hail
Every vacant-home policy is different, but there should be a section regarding complete losses. If a particularly severe hailstorm moves through a region, the entire property could be a loss. A failed roof from multiple hail strikes means the interior is compromised with wind and water damage. Insurance adjusters are necessary in this case in order to weigh the repairable costs compared to a total loss. In the case of a total loss, the insurance should pay out the amount based on the policy coverage.
Protecting an Investment
Vacant insurance is meant to protect an investment. Property owners might live many miles away from the home. They can’t be present to fix every issue. It’s the insurance’s job to cover hail damage as it occurs. As a result, the home remains a valuable asset.
Don’t be frustrated if the first insurance company turns down a request for unoccupied home insurance. Every insurer has different rules. With a little research, homeowners can find the right coverage that puts their minds at ease.