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Is your vacation home covered?

Having a vacation home on the Outer Banks is great! We have such a great place to get away from everything and just have fun. However (you knew there was an “however”), you may want to check with your insurance company about coverage if you leave either property vacant for any period of time.

Insurance companies see vacant properties as high risk. Even if you don’t have a vacation home, home vacancies can still happen for a number of reasons, such as the property being for sale, undergoing renovations, divorce or aging parents.

Whether you’re at your primary residence or at your vacation home and it’s going to be empty for any extended time, you will need to know if your home will still covered. Some insurers may cancel your policy if your home is vacant for over 30 days (A vacant exclusion generally kicks in after a home has been empty for 30 or 60 days.).

Insurance companies may offer additional endorsements to insure unoccupied homes, if the owners know the home is going to be vacant for an extended period of time.  Depending on the insurance company, additional vacant-home insurance may be available in term lengths, generally from three months to a year.

To make sure you’re home and vacation home are covered, first read your policy. Talk with your agent and ask for them to explain if needed. Then ask what they suggest for coverage.

Find out now. If you have a claim and your insurance company finds out your home was vacant for any period of time, they may refuse to pay your claim.