There's always some new information out there for me and my readers. With so many houses standing vacant in this market, either deliberately for staging, or because the sellers have moved on...not to mention the large numbers that have been added by the foreclosure market...insurance has become a big question.
I just found out that there is a special homeowners' policy available for vacant or unoccupied properties.
Many standard policies have a "vacancy clause" that is triggered if the home owner is gone for an extended period of time. This makes sense, when you consider that empty houses are more likely to have break-ins and that there's a higher risk that small problems, such as leaky pipes, could go unnoticed.
Although the extra policy may cost more initially, it could save the home owner lots more down the road.
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