Vacant Dwelling Insurance In Texas

Vacant Property Insurance Covers All Shapes & Sizes

Homes, rental properties, and business buildings can be unoccupied for several reasons. The previous homeowner might have been evicted, for instance, and the property might be sitting empty while it awaits a new buyer or lessee.

Or maybe a home’s current owner has already moved into a new home but hasn’t yet sold the old house. Perhaps a business owner has invested in extensive upgrades to their building, requiring it to be unoccupied during the renovations. Maybe a military member stationed overseas owns a home in the US that sits empty most of the year. Or maybe an apartment unit is empty while awaiting a new tenant. Whatever the case, let Stieber Insurance Group be your guide to vacant dwelling insurance in Texas.

Standard Home Insurance & The Owner-Occupied Provision

Standard home insurance policies are written under the stipulation that the insured property be “owner-occupied.” This means the person or at least one of the persons paying the mortgage and the insurance premiums must actually live in the building year-round. Generally speaking, most home insurance policies will contain certain exclusions that start to apply after a home has been unoccupied for more than 30 days. In some cases, a home insurance policy might be completely voided for insufficient owner occupancy. Insurance policies for business and rental property typically include provisions requiring some form of occupancy, too. These work similarly to those found in home insurance.

Vacant Dwelling Insurance: Designed For The Unique Risks Of Vacant Property

Occupancy requirements are included in standard property insurance policies because unoccupied buildings—be they homes, businesses, apartment complexes, or something else—face a higher risk of certain perils compared to occupied buildings:

• Trespassing
• Theft
• Vandalism
• Insect incursion
• Frozen or busted pipes

These differing risk ratios of vacant properties and owner-occupied buildings are the reason insurance carriers issue different policy types for the two. 

Not Carrying Vacant Dwelling Insurance Could Leave Your Wallet Unfilled

Such coverages aren’t typical, though, and if you own an unoccupied property, it’s crucial to carry the proper coverage types. If you insure a vacant property with standard business or home insurance and make a major claim, your insurance company will probably reject it once it learns you’re carrying the wrong policy. The entire policy will probably be nullified, leaving you financially responsible for all the property damages. Don’t leave yourself exposed to unnecessary risks, protect your assets with vacant dwelling insurance in Fulshear, Texas.  

For A Free Quote On Vacant Dwelling Insurance, Contact Stieber Insurance Group

If you’re wondering about your options for covering a vacant property in Fulshear, Texas, call Stieber Insurance Group at (281) 341-7141. We'll review your coverage needs and advise you regarding the best, most comprehensive insurance options at the lowest possible price points—guaranteed.