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  • Writer's pictureCharlotte Burr

Why You Need a Vacancy Endorsement for Your Empty Property

What is a Vacancy Endorsement?

A Vacancy Endorsement covers your home during times where the property is vacant. A vacancy endorsement can be added to your Homeowners insurance. If you believe that your property will be vacant within the period of your insurance policy, then we at the AZ Insurance Team would recommend adding a Vacancy Endorsement to your policy. It will ensure that your home is insured during the time that it is vacant. If you do not add a vacancy endorsement to your insurance and something were to happen while the home is vacant, the insurance company may deny your claims.

Why do you need a Vacancy Endorsement?

Vacant homes are much more susceptible to theft and damage. To protect your home in times like this Vacancy Endorsements are necessary. It will help mitigate the financial stress that can be associated with repairs or replacements. Having a Vacancy Endorsement can also give you some piece of mind while your property is vacant. Everyone has every day stresses already. Why would you like to add more onto your plate by not being fully insured? Standard homeowners policies will not cover your home if it is vacant. In fact most homeowners policies have a clause that all coverage are null and void once a house is vacant for either 30 or 60 days. This is extra assurance that if something were to happen you would be covered.

Questions to Ask when Purchasing a Vacancy Endorsement

Make sure that you familiarize yourself with the policies conditions or requirements before purchasing. It is also important to have some sort of timeline for when the home will be occupied. Some Vacancy Endorsements are temporary, while some of them offer long-term coverage. When adding something to your policy, it will raise your premiums. As the Homeowner you must weigh the costs and benefits of adding a vacancy endorsement to your policy. Would you rather add to your premiums or risk not having adequate coverage?

Independent insurance brokerage located in Tempe, AZ. We offer auto insurance, homeowners insurance, life insurance, renters insurance, commercial insurance…

Disclaimer: Coverage will vary on state, insurance company, and type of policy.

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