Vacant Homes Pose Insurance Risks

San Diego real estate market

California Insurance Commissioner Steve Poizner is encouraging California homeowners to review their homeowners’ policies and to consider their options regarding vacancy protection. According to Commissioner Poizner, vacant or unoccupied homes can leave the homeowner exposed to loss and liability that may not be covered by their insurance.

Homeowners’ policies are intended to insure occupied homes. Generally home insurance policies include exclusions for neglect or property abandonment on a home left vacant or unoccupied for a specified number of consecutive days. Vacant and unoccupied homes pose a higher risk for damage than occupied homes, so insurance companies insure these properties differently and usually at a higher price.

San Diego attorney