There are many reasons why homeowners leave their homes vacant for prolonged periods of time. For example, they could own multiple properties and live in them based on the season—someone could have property in Florida when it gets too cold in the Northeast, and vice versa. Or their work demands they spend a lot of time out of town—like truck drivers or commercial shippers.
Additionally, climate disasters are forcing people to vacate their homes. Post-Hurricane Katrina New Orleans saw a substantial decline in its population. While the city’s population was slowly decreasing since the 1960s, departures spiked after Katrina, with over 110,000 people leaving between 2005 and 2010—New Orleans went from a population of 450,000 to 340,000. Home vacancies also greatly increased, with the 2010 census reporting over 47,000 homes vacant in a city with nearly 190,000 homes.
Regardless of circumstance, insurance coverage is needed for properties left unattended. Most homeowners insurance does not provide coverage in these cases. This is when a vacant or unoccupied home insurance policy comes into play. While the specifics of the coverage vary, these policies cover homes that are unattended for 30 days or more.
Furthermore, there is a difference between a home being vacant and unoccupied. An occupied home usually is furnished with the owner’s possessions, and the owner can return at any time. A vacant home is one that lacks the owner’s possessions, and the owner is not going to return.
Insurance for vacant and unoccupied homes usually covers the home from common covered perils, like fire or vandalism. However, policies can vary between insurance carriers, both in terms of what is covered and how they are marketed. For instance, a carrier may sell a policy as “vacant home coverage,” but it can serve the purposes of a policyholder with an unoccupied home.
To help you navigate this type of coverage, be sure to consult your independent insurance agent about finding a vacant or unoccupied home policy that’s right for you. Whether you are vacationing or must vacate your home, it’s important to have the best coverage to protect your property while you’re away.
Matt McDonough is PIA Northeast's writer, editor and content curator. Matt joined PIA Northeast in September 2023. Before that, he had been an editor for the online entertainment magazine Collider from 2021-23 as a copy editor for its lists section. Matt entered the world of journalism at his alma mater, SUNY New Paltz, writing and reporting for the college's student run newspaper, The New Paltz Oracle. He graduated from SUNY New Paltz with a Bachelor of Arts in English and a minor in Creative Writing in 2020.
