30% empty?

[nhkev]

Originally Posted by equalrightsforeveryone

Here is a interesting tidbit that vacation home owners should consider.

From moneycentral MSN
"How your home insurance can vanish"
Homeowners insurance on vacant houses can vanish - MSN Money

I don't know how this have never come up before in discussions but good find equal. This was something I was already aware of and is why I always schedule a couple trips during the off season, my parents usually leave begining of May and don't return til late October, so even though it cannot be left "vacant" for more than 60 days, as long as I'm there for a couple days usually in July and september i won't be denied any claims of any damage that happens during the off season.

[rikoshaprl]

I can understand claims resulting from broken pipes, vandalism, even fire. But what difference would it make if there is damage from a hurricane and the house was vacant? Most people leave when a hurricane is approaching anyway. Got to love those insurance companies!

[th3vault]

Based on what I've seen in my area, I'd agree with that stat if not bump it to 40%.

[wellsme]

Originally Posted by equalrightsforeveryone

Here is a interesting tidbit that vacation home owners should consider.

From moneycentral MSN
"How your home insurance can vanish"
Homeowners insurance on vacant houses can vanish - MSN Money

Thanks for the tip. Checked with my agent and he did confirm this. He said they chose my particular carrier because they specialized in vacation/snowbird property policies.

[equalrightsforeveryone]

You're welcome.
It would be nice if there was a definition for what is considered "Vacant" that had to be used by all. But that would be too simple.
Right now I guess anyone can define it the way they like.

[Boompa]

It means that even the banks know that if they put all of those houses on the market at once they will be worthless. Bad market to buy into