Insuring an empty house

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I have a house that was being rented. Due to some water damage that is being repaired right now the house is sitting empty. To complicate matters that insurance company did not contact the mortgage company when the policy was switched from single home dwelling to a "commercial" property. Therefore, they sent the payments to the wrong office. Now the insurance company is saying that they policy is cancelled.

They won't reinstate the original policy and they are saying they can't insure a house that is not being lived in. The house is not liveable right now because there was so much damage from the water.

Does anyone know the ins and outs of insurance that would be able to tell me if the insurance company is trying to pull a fast one? I'm just not sure if I'm getting the right story and facts from them.

Thanks in advance for your help.

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Re: Insuring an empty house

imdtckdkr wrote:

Does anyone know the ins and outs of insurance that would be able to tell me if the insurance company is trying to pull a fast one? I'm just not sure if I'm getting the right story and facts from them.

Thanks in advance for your help.

Most insurers will not insure vacant rental properties. If you look at your previous policy, you'll probably find a clause that states that the policy will be cancelled automatically if the property remains vacant for more than thirty days. Vacant properties are bigger risks -- for a variety of easily imaginable reasons -- so insurers will simply not cover them. You might be able to get a policy to cover your vacant property; expect, however, to pay much higher premiums.

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I ran into a similar problem about six years ago with a vacant house. We were able to get fire insurance but nothing else was covered and we did pay much higher premiums.

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<sigh>
Thanks for your help! I was really hoping there were companies out there that would understand my dilema. Oh well! Thanks again.

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Well, fire is the most important of the policies, I think. The previous company ought to be able to help you or tell you who will. They should have said that in the beginning.

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Fire/Theft/Liability--all are important.

Suppose an arsonous trespasser steals the plumbing fixtures and while loading them in the truck trips and breaks his leg.....

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When my mother died, I sold her house in New York. I had to have someone go in at least every 30 days to satisfy the insurance company, especially since it was winter and the pipes could have frozen if the heat went out.

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Insuring an empty house

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