Home Insurance in 48332>Question Details

Sam, Home Seller in Michigan

Why is hard to get Home Insurance for Vacant home?

Asked by Sam, Michigan Tue Jul 1, 2008

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9
I called Foremost and they no longer write policies in MI
0 votes Thank Flag Link Thu May 6, 2010
We just got vacant home insurance for a home in Delaware we were flipping. Traditional insurance coompanies didn't want to touch this shack. We went through an agent called VHIN - http://www.vacanthomeinsurancenow.com - who gave us a Lloyds of London policy. Hope that helps!
0 votes Thank Flag Link Tue Sep 22, 2009
We represent mutliple companies and specialize in vacant homes even while being rehabbed. Call us or visit our website for a free no obligation quote or advice. 888-GET-GLIGA or http://www.getgliga.com
Web Reference: http://www.getgliga.com
0 votes Thank Flag Link Thu Jun 4, 2009
Vacant home insurance is very hard to obtain. One company is Foremost Insurance and they are based right in Caledonia, Michigan. Since Michigan is one of the hardest hit states by Foreclosures, they know vacants and is a primary concern for them. You can find an agent that has Foremost at http://www.Foremost.com and type in the information to find your local agent. In addition, I think they just had a huge rate reduction to help homeowners like yourself.
Web Reference: http://www.foremost.com
0 votes Thank Flag Link Tue Feb 17, 2009
It is because when no one is there, small problems become big ones. Imagine a one story ranch has a pipe leaking under the sink in the bathroom. In an occupied home, the owner would notice it in a short time and take action. In a vacant home, the water would continue to drip for who knows how long before it was noticed. The damage would probably be massive. Water, fire, smoke, or vandalism can happen because there isn't any one to stop it or prevent it from getting worse. There are companies that specialize in vacant, rehabed, and investment property homes but not every agent has access to them. Visit this site at http://www.getgliga.com for some agents who represent multiple companies for just the kind of insurance you need.
Web Reference: http://www.getgliga.com
0 votes Thank Flag Link Sat Nov 15, 2008
Its not so much hard as expensive. And it will vary greatly based on the crime rate of the area, homes claim history, insurers claim history (last 5 years) & insurers credit. Insurace these days is a very complicated business.

Many of the vacant homes in Atlanta are being vandalized to steal the copper. They will steal copper pipes, electrical wire, air conditioning parts, motors from washer & dryer. They have even been stealing copper wire from utility poles & substations.
0 votes Thank Flag Link Tue Jul 1, 2008
Insurance One has a great program for vacant homes and is one of the only one's out there. You can call 248-208-3976 and ask for Karen Craft.
Web Reference: http://www.angelabatten.com
0 votes Thank Flag Link Tue Jul 1, 2008
Sam, I would verify what you're required to have with your lender. They may also have some suggested companies
Web Reference: http://mi-living.com
0 votes Thank Flag Link Tue Jul 1, 2008
They are often broken into by vandals and vagrants.
0 votes Thank Flag Link Tue Jul 1, 2008
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