House Insurance – Unoccupied Period – Rental Options
If your house is vacant for 90 days or more, you are no longer considered a tenant and do not have to worry about house insurance. But how exactly does this affect you? What can you do? There are some things you can do.
First of all, before you move out of an apartment or house that has been vacant for more than 90 days, call the landlord and make arrangements to insure your belongings. Your house insurance company will usually require that you pay a standard rental deposit when you move in and may offer you a standard policy coverage of one day’s protection for your personal belongings. This coverage typically applies to furniture, appliances and other items in the house that are brought into the home on a daily basis.
The good news is that your house insurance policy will protect against loss or damage to these items even if you do not own the property. This means that your tenants will not have to worry about what to do with their stuff during this period of time. They will also need to get an additional rent expense to cover the loss of their personal property. If they move out before the house insurance kicks in, however, they risk losing whatever they have left behind.
If you live in a rented house or flat, you need to obtain separate house insurance for tenants. Each tenant will have their own personal policy, which is normally just as good as your homeowner policy. If you own your house, you need to purchase the appropriate house insurance policy. There may be separate policies for tenants because they are not homeowners. Again, you will want to check with your real estate agent.
The one advantage of renting instead of owning a house is that you will not have to pay for house insurance during the first year of renting. This is because your house insurance policy will only kick in during the last year of your rental. This is something that can be overlooked but can be beneficial to you as well. You do not want to buy a house and then discover that you do not have adequate coverage for the house contents.
As mentioned above, there are different types of house insurance and contents coverage. Some are similar to one another, while others can be very different. When you are shopping for house insurance, it is best to get a variety of quotes. Getting quotes from different companies will allow you to compare them and see which one offers the best rates. It is not always practical to purchase the most expensive policy, but you should take some time to shop around and see what is out there.
The cost of your house insurance depends on a number of factors. Factors such as the size of the house, location, and how long you intend to rent the house can make a big difference in the price you pay. One factor that is almost always factored into your price is the period of time you are going to be renting the house. If you are renting for six months or less than six months, the price is usually much cheaper. However, if you are renting for more than twelve months the price of the policy will go up considerably.
Whether you need to rent the house for a short time or for an extended period of time, there is house insurance to cover you. You should get at least three different quotes so that you can see what the average cost of insurance is. You may be pleasantly surprised by the price tag attached to your policy.