SUNDAY, JANUARY 16, 2022
Selling your home soon? Do you intend on moving out ahead of time and putting it on the market vacant? When your home was written as a "Primary Dwelling", a lot of insurance carriers have a "vacancy" clause in their policies making claims of vandalism and other things null & void if something happens to your property when it becomes vacant for a period of 30 days or more. Homeowners should always call their insurance carriers (via their agents) before leaving their properties vacant to let them know this. The carrier will either make note of it with no additional premium charge, tell you that you have a 30-60 day grace period and what happens after that time, or immediately endorse the policy for a modest rate increase. It's well worth the effort of making the call and understanding your policy to ensure the property you want to get top dollar for stays insured the correct way. Once the home is sold, send the settlement statement to your insurance company for policy cancellation and a pro-rated return of premium (don't leave that money on the table either)
Posted 6:21 AM