Insurance For Rental or Vacant Properties
Normal home insurance policies don’t cover homes that are vacant or rented to others.
You need a different kind of insurance policy called a “Specialty Dwelling” insurance policy.
A normal home insurance policy is not going to cover many things that would normally be covered for properties that are vacant or non-owner occupied.
To put it simply, if you, as the owner, are not living in the house, then you need a specialty dwelling policy.
Safe Street Insurance has many options to insure your rental property, or specialty use property.
Specialty Dwelling Insurance
There are many cases where you may need a specialty dwelling insurance policy:
Rental Properties — This type of policy is often referred to as landlord insurance. Landlord insurance is the type of policy that you need if you’re renting your property. Landlord insurance protects you in many different scenarios. Liability is a huge protection for landlords, make sure you have enough protection.
Vacant Homes — Most insurance companies will not insurance a vacant home. There are all types of things that could go wrong while a house is vacant, so most companies steer clear of insuring them. First, make sure you let your insurance agent know if your home is vacant. Second, don’t worry, we have many companies that will accept and insure your vacant home.
Secondary, Seasonal & Vacation Homes — Many people have a beach house or cabin in the woods. You can’t insure these properties as a normal home insurance policy. Instead, you need to find a company that will insure your home as a seasonal or vacation home. Many insurance companies will require you to insure your main home with them before they’ll insure your seasonal home. In any case, we have many options for you, depending on your situation.
Older & Lower Value Homes — It’s no secret that insurance companies want to insure homes that they think wont have issues. So if your home is very old or if your home is not worth much, due to it’s condition, you may have a hard time finding an insurance company to insure it, and they may not want to insure it under a normal home policy. If this is the case then you would need a specialty home insurance policy. These policies can sometimes cost a bit more, because there’s more risk and things that could go wrong. Good news is that we have lots of insurance companies to choose from and lots of options depending on your situation.
Homes Under Construction — Insurance companies need to know if your home is under construction, weather it’s a new build or a remodel of an existing home. There are policies for homes that are in the course of construction. We have many options for these policies as well!
How to get started on your quote
If you live in Gilbert and have a property that fits these parameters, give us a call and we can quote your property to see who has the best product for you.