Vacant Home Insurance Policy

We provide real estate services to buyers and sellers in Pennsylvania (Berks County, Chester County, Delaware County, Montgomery County, Philadelphia, Drexel Hill, Haverford Township, Havertown and Upper Darby) as well as in New Jersey (Brigantine, Atlantic City, Ocean City, Camden County and Gloucester County).

A vacant home is a very unique insurance issue and one that is not very appealing to insurance companies.  A vacant home is fairly risky for most insurance companies due to the possible attraction by vandals, fire potential and the potential for flooding from burst pipes, which can cause damage.  This is one of the most difficult and expensive insurance situations.

When you need to sell your home that will be vacant, keep in mind that your current homeowner insurance policy may not cover the property when it is vacant.  Although a homeowner may be able to work with their existing insurance company to provide vacant home coverage, it could be very costly.  And, if the homeowner does not inform their insurance company about the property being vacant, the insurance company may reserve the right to cancel the policy.  Or, if damage is sustained, their insurance company may deny the claim.

Trident Insurance Agency has a unique solution for properties that are listed with Prudential Fox & Roach Realtors.  Insurance coverage could be made available at about 1/3 the normal vacant home premium cost.  Call me and I could put you in touch with Trident Insurance Agency's representative.  The benefits of this insurance coverage include:

• Very low rates versus traditional vacant home insurance rates

• Immediate binding with application and payment

• Only 3 months premium down (110 days)

• All perils coverage

• $1,000,000 of liability insurance coverage

• Quarterly billing

• Pro-rata cancellations

When you obtain this coverage, you will not:

• Have to worry about your current insurance company canceling your homeowner policy as soon as they receive notice that the home is vacant.

• Have to worry about submitting a homeowner's claim to your current homeowner insurance company.  (Remember, when the home is vacant, there are coverage limitations under a homeowner insurance policy.)

Choosing your Agent wisely. Any agent will show enthusiasm and will want to list your house for sale but choose your agent based upon:

1. Experience at listing and marketing houses for sale.

2. Ability to use technology to market your house world wide to buyers 24/7.

3. Reviewing with you a comprehensive Marketing Analysis of home sales in your area.

4. Ability to offer a written detailed MARKETING PLAN that will get your house sold at the highest possible price.

Working with a full-time professional real estate agent is a must.  Choose your agent by asking questions of him or her.  Find out how knowledgeable they are about houses currently for sale in your price range and also of houses that have recently sold. Can your agent recommend a good lender that has the reputation of excellent customer service and low rates to assist your new buyer with financing?  A good listing agent can get your house sold quickly at TOP DOLLAR and help you find a new home.

To receive your FREE copy of Homebuyer's Handbook or Homeseller's Handbook, click here.
 

Last modified:  08/22/2010