Insuring Your Vacant Property

Article by Darrin Lowe









It can be a difficult task to obtain the insurance coverage that you require for an vacant property that you currently have in your possession. This is due to the fact that insurance providers have the opinion that there is a greater risk to be taken when insuring an vacant property and that these properties have a greater need from insurers than the typical occupied property.

There is of course the increased risk of vandalism and the similar when dealing with vacant properties. These properties are subject the vandalism as there is no presence on the property to curb the vandals. They do not have the fear associated with getting caught and as such as not hindered in this action. There is also the problem of the throwing of bricks through windows as well as an increased likelihood of fires and general property destruction.

Squatters are another issue on these properties as they can be unoccupied for long periods and the owners can often neglect to keep proper tabs on the property as well. This leads to the squatters having free reign on the property and they may also cause untold damages as well. The damages that occur on unoccupied places are also not quickly detected and as such can lead to the development of the problem into one that is more serious.

Another issue of concern is whether the property is carded to be let in the future. Many insurance providers also run from this situation as it can result in the neglect of the property from the tenants as well. Not everyone is lucky enough to get good tenants that take care of their place as if it was their own.

There are several reasons that vacant property insurance may be required and these include incidents where there has been the death of the previous owner and where the property goes to estate and is on sale. There may also be periods where the property is in the process of a change of ownership, if you are completing repairs and if the property is unsuitable for occupation. You must ensure in these periods that the property is covered specifically by vacant property insurance.

Vacant property insurance providers have to make certain that there is a reduction in the probability of losses occurring on the property that they are thinking of covering. These procedures can include regular inspection of the property, sealing off windows and letterboxes and other types of risk management procedures. In some cases, the coverage provided can be restricted to only some areas. In instances such as this it is essential that the cover is sufficient and handles risks that may be incurred on the property in question otherwise the coverage will not make any sense.

In order to source the right coverage it is possible that you may look on the internet and compare between providers. This will ensure that you attain the best deal possible where you get the best coverage for the lowest premium.



About the Author

Visit the Carpal Tunnel Pain website to learn about carpal tunnel surgery and carpal tunnel symptoms.










Foremost Insurance Announces Improvements to Dwelling Fire Program in Texas

Foremost Insurance Announces Improvements to Dwelling Fire Program in Texas












Grand Rapids, MI (Vocus/PRWEB) February 01, 2011

Foremost Lloyds of Texas has improved its Dwelling Fire program. Foremost® targets landlord and rental property customers with new, larger discounts, including a discount for our Platinum Package for landlords.

“We’re excited about these improvements to our program,” says Debbie Boam, Foremost zone executive director. “The new discounts are a great benefit to customers, offering a competitive price for quality coverage.”

Some of the new discounts include:

    Insurance scores are now used as a rating parameter for landlord business, and customers could qualify for up to a 10% discount.
    The discount for newer homes ranges from 2% to 25%.
    Customers who have more than one rental or vacant property insured with Foremost qualify for a discount of up to 10%.
    Landlords using a Property Management Company are eligible for a discount.
    Landlord Association members are eligible for a discount.
    There is a tenant screening discount available for each of five types of screenings.
    Customers with no prior claims will receive a discount.

Introducing the TDP-3 policy for Landlords

Foremost now offers a Comprehensive TDP-3 policy for Landlords (not applicable in tier 1 or tier 2 counties.) “We understand that different landlords want different levels of coverage,” Boam says. “This comprehensive policy provides customers with the opportunity to purchase more extensive coverage for their rental properties.”

Foremost-appointed producers can book expanded Dwelling Fire business on http://www.ForemostSTAR.com. To become appointed with Foremost, producers can call 1-800-237-6136 or visit http://www.ForemostAgent.com. To share your feedback, visit our Facebook page at http://www.Facebook.com/foremostinsurance or our Twitter page at http://www.Twitter.com/foremost.

A part of the Farmers Insurance Group of Companies®, Foremost Insurance Group (“Foremost”) has been a leader in personal lines insurance since 1952. Foremost is headquartered in Caledonia, Michigan. Farmers is a trade name and may refer to Farmers Group, Inc. or the Farmers Exchanges, as the case may be. Farmers Group, Inc., a management and holding company, along with its subsidiaries, is wholly owned by the Zurich Financial Services Group. The Farmers Exchanges are three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange), including their subsidiaries and affiliates, owned by their policyholders, and managed by Farmers Group, Inc. and its subsidiaries. For more information about Farmers, visit http://www.Farmers.com or http://www.Facebook.com/FarmersInsurance.

# # #





















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







More Vacant Property Insurance Press Releases