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How Much Does Vacant Home Insurance Cost?

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0 2022-07-29T09:34:44+00:00
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We have insurance for everything like bikes, cars, health and more. We also have Home Insurance which is a policy that covers the cost and damage to the house or any insured property. Now if a house is left empty for a month or two, that is for 30 to 60 days or more, then the policies won’t provide full coverage over them. Now the major question that arises is, how much does vacant home insurance cost? Let me tell you about it so that you can know its cost

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How much is the homeowners insurance for vacant home?

Now if you have a vacant home, be prepared to pay about 50% more than you would pay for a regular homeowners policy. Now the cost of a home insurance depends on several factors like:

  • Age of the property

  • Location

  • Coverage amount

  • Type of coverage and more

So it is not possible to say how much does it cost to pay for a regular homeowner policy until you talk with an expert about it. It varies from Rs 1800/sq ft to about Rs 3,000/sq ft but do not rely upon this value blindly as it can differ from place to place. I hope up to now you have understood the vacant home insurance quote.

 

What are some insurance companies that insure vacant homes?

Some companies I know who provides home insurances are:

  • Bharti AXA Home Insurance

  • ICICI Lombard Home Insurance

  • Chola MS Home Insurance

  • HDFC ERGO Home Insurance

  • Reliance Home Insurance and more.

I would still request you to clarify it by visiting their offices. 

I hope this details will be enough for you to know how much does vacant home insurance cost and about some of the companies

 

Read More:

What types of home insurance are there?

Is property insurance mandatory for home loan?

What is home loan insurance?

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Anamika Sen

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