It's that time of year when the snowbirds are packing up their northern tier properties and moving south for the winter. More and more senior citizen Americans have shed themselves of heavy personal property and literally pick up and move lock-stock-and-barrel twice a year. The leave on home virtually empty and move it all to their seasonal home. Far to many snowbirds fail to take advantage of the low risk of the vacant property they leave behind. They make the mistake of keeping that home as fully insured as if the property was still fully occupied. They are wasting money!
The vacated property, void of personal property is a significantly less liability risk to your insurance company and thus reasonably should cost you less to insure On the other end, however, the newly occupied dwelling suddenly increases the liability risk as compared to it's previously uninhabited state. Depending on the variable cost of the insurance market that you are vacating vs the cost of the insurance market that you are arriving, your insurance expense will vary somewhat based on the location of your new domicile. In theory, year-in and year-out the cost should be a wash. However, if you retain full insurance coverage year-round at both locations, then once again, you're simply wasting money.
The vacant home and property insurance policies that we independently research and write throughout VA, MD, DC are strategically developed so they can address the full-range of risks that vacant properties introduce. The protection you will need will depend on the type of home you have and the types of things left in it. The insurance policies from TriState will be able to protect you against all risks that include (but are not limited to) things such as trespassers, thieves, vandalism, insect infestation, frozen pipes, and more. For many reasons, it is best to discuss vacant home insurance options with an independent agent who can explain all this to you.
To find out more about your options when customizing vacant home and property insurance policies, contact TriState Business Insurance.