If you own a house in which you no longer reside, then you need to know about vacant home insurance without notifying your existing insurance agent
Video Script:
hi I’m Brian Spitz president of big
00:04 state home buyers and I’d like to talk
00:06 to you some about vacant house insurance
00:09 your current insurance policy may not
00:12 cover vacant homes and house can be
00:15 vacant for a myriad of reasons one is
00:17 maybe you’ve moved on to another
00:19 property and you have your house for
00:21 sale on the open market maybe you are a
00:23 landlord and you’re in between tenants
00:26 or maybe you’re just remodeling the
00:28 house living outside of it for a short
00:30 time a lot of insurance policies do not
00:33 cover bacon insurance or vacant homes
00:36 because the property is what’s called an
00:39 attractive nuisance once it’s vacant and
00:41 an attractive nuisance is something
00:45 where it’s obvious that people can be
00:50 attracted to get injured on the property
00:53 or that the property itself lends itself
00:56 to getting damaged it could include
00:58 things like fires explosions vandalism
01:02 or many other things that would cause an
01:05 increase in the likelihood of a loss or
01:07 a claim for the insurance company and
01:09 attractive nuisance could also be
01:11 something like having kids neighborhood
01:13 kids come over and climb the fence and
01:15 get in the pool or hang out at the
01:17 property as a homeowner you are expected
01:20 to take the precaution necessary to make
01:22 sure that the house is occupied or safe
01:26 so anytime you sign up for a homeowner’s
01:28 insurance policy car insurance policy
01:31 any kind of property life health
01:34 insurance it’s really important that you
01:36 get to know what’s in the policy and ask
01:38 for those things that will cover you in
01:41 the event of something something
01:43 catastrophic or even something minor a
01:46 broken pipe might seem like a small
01:48 problem but if you’re not occupying the
01:50 house a house can get flooded easily
01:52 overnight and cause all sorts of damage
01:54 and then that pulls in whether or not
01:56 the flooding is included in your policy
01:58 so there’s many places that you need to
02:00 be sure that you’re covered when it
02:02 comes to your homeowners insurance so
02:04 what tips do I have for you if you have
02:07 a vacant property or you’re thinking
02:09 about having a part
02:10 go vacant well number one if your
02:12 landlord you will know about the time
02:15 that the lease is going to expire and
02:17 your lease will probably tell you tell
02:20 the tenant that they have to renew or
02:21 give you notice of baked aid so if you
02:24 have a landlord policy and you know that
02:26 the property is going to become vacant
02:27 and put on the market for lease again if
02:30 you don’t have a writer to your
02:32 insurance policy that lets the house it
02:34 bake in for a short time call your
02:36 insurance agent and make sure to add
02:37 bacon home insurance so number one
02:40 landlords number two home for sale if
02:44 you’re going to move out and put your
02:47 home on the open market again be sure to
02:49 call and check your homeowners insurance
02:50 policy and make sure you know exactly
02:52 what you need to do to take the
02:54 precautions that the house is in good
02:57 condition that the house is safe windows
02:59 are shut water may need to be turned off
03:02 you don’t just want to be sure you’re
03:04 insured you want to make sure that the
03:05 home doesn’t actually get damaged third
03:08 option fell as is a lot of properties
03:11 that big state home buyers purchases
03:13 from individuals are vacant already are
03:15 going vacant and in those instances
03:18 neighbors people know real soon that a
03:21 house is going to be vacant and it does
03:23 become an attractive nuisance and is
03:25 open opens itself up and lends itself to
03:27 vandalism so a lot of people just don’t
03:30 feel comfortable with the liability of
03:31 knowing that they own a vacant house
03:33 having to go by check on it cut the
03:36 grass make sure the utilities are on
03:37 make sure that the insurance is correct
03:39 so if all of that sounds like it’s
03:42 something that might not be the best
03:43 option for you then getting a quote from
03:46 big state home buyers or another
03:48 reputable home buying company is a good
03:50 option for you the last thing is if
03:52 you’re looking to remodel your property
03:55 remodeling requires its own sort of
03:58 builders risk insurance whether you’re a
04:01 professional in the industry who is
04:03 renovating and flipping houses or
04:05 whether you’re just somebody that’s
04:06 moving out to paint and do some work to
04:08 freshen up your home house make sure
04:10 that you’ve contacted an agent and that
04:12 you have the correct builders risk bacon
04:14 policy and show
