I'm getting divorced. Will they cancel my home owners insurance if my house remains vacant?
Total Comments: 3
Posted: Fri Aug 19, 2011 09:02 am Post Subject:
Chances are that your insurer will cease to give you coverage, if your house remains vacant for a period of 30 days or more, depending on the terms of your HO policy. Thus, you may consider on getting a vacant homeowners insurance.
Posted: Sun Aug 21, 2011 02:41 pm Post Subject:
Chances are that your insurer will cease to give you coverage, if your house remains vacant for a period of 30 days or more
This is incorrect. Coverage will not cease, but may be reduced in the event of an extended period of vacancy. The policy language will inform you how this will work. Usually the main exclusion is for vandalism and malicious mischief, and other coverage might be reduced by up to 15%. But the coverage will not be cancelled.
Divorce is not a concern of the insurance company, but the departing spouse's name should be taken off the policy.
Posted: Mon Aug 22, 2011 11:51 pm Post Subject:
In most cases, if a building is truly vacant, coverage for losses attributed to vandalism and similar perils is suspended if a building is vacant for more than 30 successive days for personal lines insurance and 60 days for commercial insurance.
Posted: Fri Aug 19, 2011 09:02 am Post Subject:
Chances are that your insurer will cease to give you coverage, if your house remains vacant for a period of 30 days or more, depending on the terms of your HO policy. Thus, you may consider on getting a vacant homeowners insurance.
Posted: Sun Aug 21, 2011 02:41 pm Post Subject:
Chances are that your insurer will cease to give you coverage, if your house remains vacant for a period of 30 days or more
This is incorrect. Coverage will not cease, but may be reduced in the event of an extended period of vacancy. The policy language will inform you how this will work. Usually the main exclusion is for vandalism and malicious mischief, and other coverage might be reduced by up to 15%. But the coverage will not be cancelled.
Divorce is not a concern of the insurance company, but the departing spouse's name should be taken off the policy.
Posted: Mon Aug 22, 2011 11:51 pm Post Subject:
In most cases, if a building is truly vacant, coverage for losses attributed to vandalism and similar perils is suspended if a building is vacant for more than 30 successive days for personal lines insurance and 60 days for commercial insurance.
The policy does not get cancelled.
InsTeacher 8)
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