Property insurance increased because of vacancy!

[Carrie A.]

I bought a duplex a year and a half ago. Bought a SFH in December. Put everything on one policy. My SFH needs some work done to it so it is vacant. When insurance company investigated and found it vacant, they wanted to cancel my insurance! Now my agent has written the policy for a vacant residence and my property insurance rose by several hundred dollars! Is this how it works???

[Bill B.]

You’re probably lucky they found out it was vacant. Imagine you had to make a claim and then either admit it was empty and insurance shouldn’t pay. Or lie and say it was occupied until just a day or two prior and commit insurance fraud. 

Can you imagine how much riskier an empty house is than an occupied one? For theft, vagrants, water damage, anything. It should probably be 2x the normal rate, maybe higher. 

As mentioned about you usually get 30-60, sometimes 90 days of vacancy. If you’re not tearing it down to the studs, finish it in 15-30 days and your worry free.