Why You Need To Insure Your Home Even If It Is Not Occupied

Updated on December 23, 2019

Most people are usually committed to purchasing insurance for the home that they live in. This is because they understand that they can be left without a place to lay their head if the unexpected happens. But no one tells you that you should also take insurance cover for the house that you have abandoned. In fact, people don’t see the necessity of protecting a house that they have not occupied for a couple of months or years. If something happened to such a home, probably due to bad weather, fire or theft, the insurance company will immediately jump the gun when they find out that the property was unoccupied for more than 60 days. That’s why it’s recommended you invest in unoccupied homes insurance. This type of cover protects your property when unavoidable circumstances such as illness or vacation force, you to abandon your home for a period of time.  Here is a list of reasons why you should not hesitate in covering your homes that are not yet occupied.

1. It Protects Personal Items

If you ask most homeowners, they will tell you that this type of insurance only covers the structure that’s on the property. On the contrary, the insurance covers everything that’s inside the house. This includes, furniture, electrical appliances such as fridges and laundry machines, jewelry and musical instruments. In case either of the mentioned items went missing or got damaged, you only need to inform your insurance provider and they will honor your claim after several days. Having such an insurance cover therefore gives you peace of mind when you are away due to hospitalization or vacation. This is due to the fact that you will not have to buy everything from scratch like you would without the insurance. You see, without abandoned home insurance plan, you would have to leave your house under the care of your relatives or friends for the sake of protecting your interests in case disaster strikes.

2. Guarantees Temporary Shelter

When floods make your home inhabitable, you must look for an alternative shelter for your family. Such an issue can be devastating especially when you have just returned from abroad and you don’t know where to start. During such instances, you can’t rely on friends because they will see you as a burden. The only option you have when trouble comes calling is to live in a hotel. We all know that living in a hotel for several days in a row can give you a run for your money. This is because you have to pay for accommodation plus all the meals. But when you have abandoned property insurance plan, the insurance provider will cater for the cost of living in temporary shelter. This helps in ensuring that you still have money to sustain your family until calm resumes.

3. Protects your Future

A house is a pricey investment that continues to appreciate in value with time. In fact, you can leave it to your loved ones as an inheritance. Besides that, you can use it to secure a loan. However, disaster can jeopardize your future without a warning. If something happened to your abandoned house, you would have nothing to lean on in your old age. In fact, you would become homeless again. Such a situation can make your head spin until you get depressed. But when you have insurance cover for your property that doesn’t have any occupants, you can be sure that your future will be bright no matter what happens.

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