Massive Hail Storm Damage in Phoenix Oct. 5th 2010 - Are you properly insured?

Oct. 18, 2010 - PRLog -- Vacant Homes & Storm Losses – Are you Insured?

By KKChilders

Arizona was hit with a massive storm on October 5th 2010.  Everyone who has read or listened to the news in the last few years is painfully aware that we have massive quantities of vacant homes all over our state.  With this recent storm we may find out these vacant homes, whether for sale or abandoned, may not be properly insured for this recent loss and coverage will be denied.  Adding yet another huge expense to each and every homeowner.  

One of the reasons these homes may not be covered is many Home Insurance Policies are for an occupied home by the owner.  If you happen to change your occupancy to vacant, you need to notify your Professional Insurance Agent so they can advise you properly.  You will normally have three options:

Option 1; move back into the property to keep policy active assuming you had the correct policy to begin with.  

Option 2; Rent or “Home Manage” your home. This is a new concept helping many vacant homes today. Http://AzVacantHomeSolutions.com is a local company that can assist with your home management needs and will also suggest you place the correct policy on your home until sold.  

Lastly;
Option #3 keeping home vacant and purchasing a vacant home policy.
When your home is for sale and vacated for over 30 days,  you may have to make some choices regarding occupancy and also update your insurance to be compliant.  All professionals know that each insurance policy language may differ and this is a very important item that should be discussed in detail to make sure you are properly protected in the event of a loss.  All policies vary on language so best to read, know, and understand yours completely!

With homes taking many months and sometimes a year or more to sell (this all depends on the market, your selling price, house condition, total value of property, neighborhood and more), you do not want to fall into this trap of improper insurance coverage.  It can be an oversight in this hectic situation so it’s a perfect time to review your current policy and update accordingly.

Either way you will have to make decisions. Your home is a very expensive asset and huge responsibility with the property (building/dwelling) as well as Liability.  After this recent storm, homeowner’s may be finding out the hard way they did not have the correct policy in place at the time of a loss regardless if premiums were paid.  

There are various solutions to home vacancy and home insurance. Many of them are easy fixes if planned for in advance. One item many homeowners have elected to do is “Home Management”  this allows the home to be occupied, staged with furniture and often times the Utilities, yard and pool maintenance are all paid for as well and this service is FREE to the homeowner. Arizona Vacant Home Solutions LLC has an easy to read website outlining the procedure.  Anything you can do to reduce your out of pocket expenses and reduce financial and emotional stress is very welcoming.  In today’s market conditions, Arizona Vacant Home Solutions offers proactive solutions to today’s vacant home problems.

Arizona Vacant Home Solutions   info@AzVacantHomeSolutions.com    602-456-9020

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Do you have a vacant home for sale or in probate? Don't fall victim to high insurance costs, vandalism, deterioration and reduced home value! Home Management services can reduce your holding costs, help your home sell faster and give you peace of mind!