Homeowner Insurance Traps

Transcript: Homeowner insurance policies and little traps that can affect your coverage if you’re not careful. One of the traps is when people have property and then they leave that property for an extended period of time. Sometimes that property can be considered vacant. For example, if you own a home here in Indiana and around the Chicago area, but you go to Florida for three, four months and your home is vacant, you may have a clause in your insurance coverage that puts in peril your insurance if that house is left vacant for more than thirty days. There are ways to pay additional premiums to make sure your house is covered during that time period that it might be vacant, and some policies don’t even have the exclusion. But it is worth checking your policy because you certainly don’t want to have a fire loss or other damage that is not covered simply because you took an extended vacation to Florida or Arizona or out of the area for awhile and your home was not occupied. So check your policy please, and make sure you have the right kind of coverage that you need.

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