Home & Property > Vacant Property > Policy Details
A Vacant Home Insurance Policy Tailored to Your Needs
American Modern’s vacant property insurance coverage gives you a number of choices. You get to select the length of your policy term as well as the size of your deductible. And, while some coverages come standard with the policy, other options are available, including protection against vandalism, liability for injury to third parties, and coverage for personal property.
Our policies are designed for temporarily vacant homes that are in fair condition and properly maintained. The vacant home may be of any age and worth up to $500,000 ($1 million in select states).
Vacant home insurance policy details:
- Policies cover the standard named perils, such as fire, smoke, windstorm, hail, and explosion.
- Claims are usually settled for Actual Cash Value, but other options exist. If you have a rental or seasonal property with our Vacancy Permission endorsement, Replacement Cost coverage is available in some cases.
- Pro-rated cancellation. When your house sells or someone moves in, you can cancel the policy and get a refund for the balance of the policy term, subject to the minimum earned amount where allowed by law (typically $100).
Take a look at our vacant property insurance coverage FAQ to find out why a homeowners policy may not protect vacant property and why rates are higher for vacant property insurance.
Vacant home insurance coverage automatically includes:
- Named peril coverage for the home itself.
- Other structures such as a shed, detached garage, or fence.
- Reasonable expenses for repairs made to prevent additional damage, such as covering a roof after a storm.
- Reasonable expenses for debris removal.
Optional coverages:
- Premises liability, covering accidents happening on your property which injure another person or cause damage to that person’s property.
- Builder’s risk, covering the value of improvements, alterations, or repairs to your home while it is undergoing renovation. This includes coverage for limited theft and for structures attached to your home.
- Personal property coverage.
- Vandalism coverage for deliberate, malicious acts by another person that cause damage to your property.
Special options that may be relevant:
- If you need coverage for water damage, you’ll need a DP-3 policy with Vacancy Permission. In most states, the limit for water damage is $20,000 or 10% of the value of your home, whichever is less.
- If the home is between tenants, don’t hassle with canceling your current policy because you need vacant insurance. Instead, American Modern can give you a DP-1 policy with Vacancy Permission. Then, when the home is rented, all you need to do is ask for the Vacancy Permission clause to be removed from your policy.
- If your seasonal home will be vacant for a few months, an easy solution is to have a DP-1 policy with Vacancy Permission. Just add and remove Vacancy Permission when you need to. It’s much easier than canceling your insurance policy every few months.
American Modern also gives you many ways to save on your vacant home insurance coverage.
Get a vacant property insurance quote from American Modern. Call 1 866-884-6167 Monday through Friday, 8 am to 8 pm. Or request your vacant property insurance quote online.
Products, coverages and discounts are not available to all persons, in all states or apply to all possible risks. Terms, conditions and exclusions may apply. Rates are derived from a number of factors, which can influence the price, discounts and savings. Your rate may be higher or lower. Policies are subject to underwriting review and approval. Rates are subject to change. Policies are written by one of the companies of American Modern Insurance Group, which includes American Modern Home Insurance Company and American Family Home Insurance Company.