There are many reasons property might be vacant – including a home undergoing renovation, a seasonal home, a rental home between tenants or a home waiting for new owners to move in. Since vacant homes are at a higher risk, they need special coverage. American Modern will help you find the right policy to protect your customers during short-and long-term vacancies.
Dwelling Basic (DP-1)
Essential and flexible coverage for rental and seasonal homes.
Eligibility:
- All occupancy types – rental, seasonal, vacant, owner-occupied
- No restriction on the home’s age
- Fair or better condition
- Standalone, non-residential structures
- Up to four-family construction
Popular Features:
- Named peril protection
- Actual cash value settlement
- Coverage of standalone structures
- Liability coverage
Program details vary by state. Please consult the program manual for specifics.
Dwelling Special (DP – 3) with Vacant Permission
Comprehensive protection for homes in above average condition with short-term, occasional rental or seasonal occupancy.
Eligibility:
- Rental or seasonal occupancy (owner occupancy available in some states, vacant occupancy available in AMsuite states)
- Home up to 80 years of age (60 years in some states)
- Roof up to 20 years of age
- Above average condition or better
- Single family structure up to a four-family
- AMsuite only: Schedule up to 10 homes on one policy
Popular Features:
- Covers short-term and occasional rentals
- Covers temporary vacancies
- Full replacement cost settlement
- Personal property coverage
- Loss of rent coverage
- Prior claims acceptable
Program details vary by state. Please consult the program manual for specifics.
