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Vacant Building & Property Insurance


Some types of insurance are easy to explain.  Other types are very complicated.  As an example vacant property insurance is complicated.  Here is a great example:  Suppose your home is vacant and you pay a sizeable premium to insure your home.  A few nights later the house is broken into and furniture is stolen.  Would that be covered?  Maybe.  Would you expect it to be covered?  Of course you would.  So, what is the solution?  The solution is to make sure you ask questions when you buy vacant property insurance.

Actual case study:  A home owner was transferred leaving their home behind to be sold.  During the time the vacant house was on the market a water pipe broke allowing water to seep out onto the floor causing several thousands of dollars in damage.  Uner the policy there was no coverage.  The owner of the house was surprised  - and out a few thousand dollars.  How could this have been prevented?  By carefully purchasing coverage and reading the application.  We get lulled into a false sense of security because most policies cover much more than a vacant policy.  Most of the time thru our network of insurors we are able to find the coverage needed.  So, when you need vacant property insurance, you need Modern Family Insurance.  

1)  Your home is up for sale and noone lives in the home.
2)  You bought a house but will be making repairs before moving in.
3)  You are an investor and will be flipping the house.
Most consumers think a vacant fire policy provides the same coverage as a home owner policy.  It is dramatically different.  Don't buy this coveraeg in a hurry.  

This is one type of insurance that should be purchased very carefully.  The reason is because the coverage is very different from a home owner policy.   And, coverage varies widely between companies.  That is why we have specialized in vacant property insurance.  

Modern Family Insurance Agency Inc specializes in providing insurance coverage for your vacant property or building throughout Georgia, and Tennessee.  

We provide many types of coverages for your unoccupied or vacant properties or rentals. The following are some of the types of coverages:

  • Limits of up to $1,000,000 per Occurrence
  • Coverages for Medical payments
  • Deductibles as low as 500
  • Choice of basic, or special coverage for qualifying properties.
  • The contents of the structure may be written if qualified.
  • Replacement cost  may be available depending on the year built.

Here are some things we will need when you call.  The year your house was originally built.  Is it in the city limits?  What type of repairs will you be doing if any?

When you buy vacant property insurance you need to know what you are getting.  These policies vary greatly between companies and we will help direct you to one that fits.  If you are a customer that just wants basic fire insurance we can do that for you.  

If you want extra coverages to expand coverage beyond a basic policy we have that too.  Vacant property insurance has been one of our specialties for many years.  Whether you are flipping a property, remodeling a property or just transferring with your job we can help with your vacant property insurance.

Is vacant fire insurance more expensive?  The truth is that it is.  Because we are an Independent Insurance Agency you won't have to rely on a plan from one company.  We have several insurance companies to choose from.  Those choices can help drive down the price.  Modern Family is a place where you have a choice - And, we don't rush you by placing a 15 minute limit.  

There are steps you can take to make your home more secure.  Advise your local police your home will be vacant.  They will arrange to keep watch on it when they go thru the neighborhood.  Don't allow mail and old newspapers to collect in the driveway.  This may send the wrong signal making your house look abandoned.  

The big thing to keep in mind is that vacant property insurance is very, very different AND you should take the time to understand it.   Choose an agent who will take the time to help you understand this coverage.  

When you check with us on vacant property insurance or insurance for your unoccupied house ask about the policy that gives you a refund if you sell your house.  Most policies are written for a specific time and once you sell you don't get any of your money back.