Quality Insurance Options for Vacant Properties and Renovations
Insurance for vacant property or remodeled property is absolutely critical. Most people consider it because they want to protect their investment from acts of vandalism, fire or other natural disasters. These are important to protect against, but there is another big reason to purchase coverage: liability. Vacant homes can be the sites of accidents that cause injuries, and investors/property owners must be protected from the risks associated with injury lawsuits.
Traditional Homeowners Insurance Coverage May Not Be Enough
Most traditional rental insurance policies don’t cover these types of risks on a vacant property. To best protect yourself, you should consider additional coverage. At Gillette Agency, we offer cost-effective insurance for commercial and residential property owners whose properties will be empty for a significant part of the year, or whose properties will be empty during a remodel, while the property is between tenants, is on the market or otherwise uninhabited.
How Is Insurance Coverage Calculated?
As insurance agents with decades of experience, we help you determine adequate coverage to protect your investments without unnecessary expense. When pairing you with the right policy, we consider your initial financial investment and the value of any estimated renovations.
Many owners purchase rehab insurance to protect their additional investment made during the remodeling process. We work with you and your lender to customize insurance coverage that meet the demands of each project.
Duration is another factor. We have prorated insurance products available, allowing our customers to pay only for the time they need. This approach lets us help our customers save on insurance costs.
We Work Quickly
At Gillette Agency, we can work quickly to meet your needs. If you are obtaining a vacant property or have one that will become vacant, we can get you the coverage you need as soon as you need it. Want to learn more? Request a free vacant property quote or call us at (952) 884-6772 for more information.