"I can assure you that the homeowner that lets the neighbors college kid
live in the house is usually taking a much bigger risk than a rug destroyed
by a party," says Matthew McKinley the president of Vacant Home Insurance
Now. Matthew goes on to explain that most homeowners do not realize that in
most of these situations a special type of homeowners insurance policy needs
to be taken out on the property called a landlord policy. These policies are
also called landlord - tenant policies, and tenant - boarder policies.
Most people think these policies are reserved for actual landlords
operating for-profit businesses with tenants. Mr. McKinley says that this is
not the case. "If the owner and the immediate family are away for a certain
period of time, 3 months or more in some cases. And, someone not part of the
immediate family is living in the house, a tenant or boarder insurance
policy needs to be put on the home or the home may be exposed to
catastrophic risk and not be covered under a standard homeowners insurance
policy."
Mr. McKinley goes on to explain the fact that "with many insurers in many
states, you may still need a specialty tenant or boarder insurance policy
even if you have an immediate extended family member living in the house,
like a cousin, as insurance laws vary from state to state. A good rule of
thumb to stand by is if your home is not being occupied my members if your
immediate family, you should at the very least contact your homeowners
insurance company to see if coverage will still exist."
If the home is not being occupied by any members of the immediate family,
homeowners are strongly advised to contact their agent and / or insurance
company to see if the current homeowners' insurance policy is adequate, and
to uncover potential problems. In most cases where the family will be away
for over 90 days, a tenant / boarder policy will most likely be required or
coverage on the home can be lost.
* About Us:
Vacant Home Insurance Now is a provider of insurance policies for vacant
homes, buildings, and properties. We are the premiere source for vacant home
insurance policies. Whatever your vacant home situation, we offer the
correct insurance package and coverage. We have vacant building insurance
programs that offer the highest degree of coverage, affordable rates, and a
very simple application process. Contact us today at
http://www.vacanthomeinsurancenow.com for a free insurance quote.
* Contact Us
Nicolas DAlleva
Marketing Manager
Vacant Home Insurance Now
1053 Valley Hill Road
Malvern, PA 19355
