Vacant Home Insurance Florida: Coverage Options and Costs

Florida has some of the most stringent regulations regarding vacant home insurance in the country. This means that homeowners who leave their properties unoccupied for extended periods face unique challenges in securing coverage.

The state's insurance market is highly competitive, with many carriers offering specialized vacant home insurance policies. These policies often include features such as higher deductibles and limited coverage for certain types of damage.

In Florida, vacant home insurance policies typically range from 10% to 20% higher than standard homeowner's insurance policies. This increased cost is due in part to the higher risk of damage or loss associated with unoccupied properties.

To minimize the financial burden, homeowners can consider bundling their vacant home insurance with other policies, such as flood or windstorm insurance. This can sometimes result in a more affordable premium.

If you're looking for a reliable vacant home insurance option, Farmers Insurance is a great choice. It offers a 12-month pro-rated policy for cancellation, making it easy to switch between policies if your tenant leaves or you decide to leave your home on an extended trip.

Farmers Insurance allows you to easily switch between landlord and vacant policies, and even offers the option to apply vacant insurance to an owner-occupied home. This flexibility is a major advantage for homeowners who need to make changes to their policy.

One of the best things about Farmers Insurance is its strong financial stability, with an AM Best rating of A (Excellent). This means you can trust that the company will be able to pay out claims if you need to file one.

If you're interested in getting a quote from Farmers Insurance, you can contact a local agent through their location system, call them directly, or start the process online. An agent will then follow up with you to finalize the details.

Farmers Insurance offers a range of convenient features, including a 24/7 claims reporting line, risk mitigation assistance, and online account maintenance. This makes it easy to manage your policy and file claims if you need to.

Vacant home insurance in Florida is a specialized type of insurance that covers homes that are not lived in for an extended period. The cost of vacant home insurance is significantly higher than standard homeowner's insurance, typically ranging from 50% to 60% more.

The length of vacancy is a major factor in determining the cost of vacant home insurance. If your home is vacant for a shorter period, the risks are lower, and the premium will be lower as well.

A standard vacant property insurance policy covers losses from named perils such as fire, windstorm, or hail, vandalism, total loss settlement, and liability. However, it's essential to note that vacant home insurance does not cover personal property or water damage.

Here's a breakdown of the average cost of vacant home insurance in some Florida cities:

The factors that affect vacant home insurance costs include the length of vacancy, security system, property condition, neighborhood, property oversight, and replacement cost.

American Modern Insurance offers a standout feature of having two very specific policies that fit nearly every vacant home scenario. You can easily switch between occupied and vacant property insurance, and temporary or long-term vacant policies are available.

A vacant home insurance policy may cover specified risks such as fire, flooding, wind, hail, and theft, depending on your coverage options. It may also cover the costs of repairing or even replacing your home if it is damaged or destroyed.

Some insurance companies, like American Modern and Obie, offer online account systems to manage your policy or claims. Obie also has a fast quote process and allows you to purchase a policy online.

Here are some key features and benefits of vacant home insurance:

Foremost offers multiple options for coverage, including agreed loss settlement, replacement cost, and named peril coverage. It also has broad eligibility for the type of property structure or ownership of the property.

American Modern offers a range of standout features that make it a great choice for vacant home insurance. You can easily switch between occupied and vacant property insurance, and they even have temporary or long-term vacant policies available.

Their online account system allows you to manage your policy and claims with ease. This is a huge convenience, especially if you're dealing with a vacant property.

American Modern has a strong financial position, backed by Munich Re, which has a rating of A+ (Superior) from AM Best. This gives you peace of mind knowing that your insurance provider is financially stable.

Here are some of the key benefits of choosing American Modern for your vacant home insurance:

American Modern's policies have received high ratings in various categories, including policies offered, with a score of 5 out of 5. This suggests that they have a wide range of policies available to suit different needs.

If you're a landlord, you're probably looking for insurance that covers your property even when it's vacant. Obie is a great option for this, offering a vacancy clause that you can purchase as an endorsement to your landlord policy. This means your home will still be covered even if a tenant breaks the lease and leaves.

Obie's quoting system is extremely fast and easy to use, providing quotes in under five minutes. You can even purchase a policy online, which is convenient for busy landlords. They offer three levels of coverage: Basic, Complete, and Premium, with different deductibles and coverage options.

One of the benefits of Obie is that it works with different providers, including Munich Re, which has an AM Best rating of A+. This gives you some peace of mind knowing that your provider is financially stable. However, it's worth noting that Obie doesn't handle claims directly, so if you prefer a company that does, you may want to consider Farmers Insurance.

Here's a breakdown of Obie's coverage options:

Overall, Obie is a great option for landlords who want vacant insurance and the option to review and purchase insurance online. They offer fast and easy quotes, convenient online purchasing, and a range of coverage options.

American Modern Insurance offers a flexible online account system to manage your policy or claims. You can easily switch between occupied and vacant property insurance, and even purchase temporary or long-term vacant policies. This flexibility is a major standout feature of their service.

Foremost offers a wide range of coverages for its vacant home insurance, making it highly customizable. You can add the coverages that fit your property best, and even get a 24/7 claims line for assistance.

Obie specializes in fast, landlord insurance, with a vacancy clause that gets added to the landlord policy so that your home, even if vacant, can still be covered. This is especially useful for landlords who find themselves with an unexpectedly vacant property.

Farmers Insurance has a 12-month pro-rated policy for cancellation, making it easy to switch between landlord and vacant policies or even apply vacant insurance to an owner-occupied home. This convenience is a major benefit of their service.

American Modern Insurance has two very specific policies that fit nearly every vacant home scenario, and is owned by Munich Re, which has a rating of A+ (Superior) from AM Best. This financial stability is a major selling point for their service.

Foremost offers multiple options for its vacant home insurance, including Agreed loss settlement, replacement cost, and named peril coverage. This flexibility is a major benefit of their service.

Here are some of the standout features of the top vacant home insurance companies:

If you're thinking of insuring a vacant home in Florida, there are a few things to consider.

Generally, insurance is more expensive for an empty home because no one is there caring for the home or watching it. This is because vacant homes are more prone to damage and theft.

The cost of insurance also depends on your provider, but it's essential to shop around to find the best rate.

Customer satisfaction is a top priority for many insurance companies, and American Modern is no exception. American Modern is available in all 50 states.

You can manage your policy online, view coverages, file a claim, and track the progress of the claim. This level of convenience is a big plus for customers.

Complaints against American Modern are lower than the national average, according to the National Association of Insurance Commissioners (NAIC). This suggests that the company is doing something right.

If you're a rental property investor, fix-and-flip investor, or world traveler, you may need vacant home insurance to protect your property.

Rental property investors can benefit from vacant home insurance when tenants leave and no one is renting the property, or when the next renter's contract doesn't start for a month or two. This type of insurance can transition into a landlord insurance policy once the tenant moves in.

Fix-and-flip investors usually work with empty homes for the duration of their ownership, which can be longer than 60 days. A standard homeowner's policy won't cover this, so it's essential to work with a carrier that can develop a policy tailored to their business needs.

World travelers who plan extended vacations, such as a grand tour of Europe, may also need vacant insurance for their home. Traditional homeowner's policies usually only provide coverage for up to 30 days.

Here are some examples of who needs vacant home insurance:

A home is considered unoccupied after 30 days of no one being inside, but state law may have its own specific period.

Typically, a home is considered vacant after being unoccupied for 30 days, which means no one is living there for any reason.

This can increase the risk of property damage or loss due to unwanted attention from thieves or vandals.

No one is home to prevent unwanted attention, making it a vulnerable situation.

Each insurance provider has different criteria for a home that's unoccupied, meaning they'll have their own definition of what that means.

A home is considered unoccupied when there are still furniture and belongings inside, showing intent to reoccupy the house.

Foremost is the best for discounts, offering multiple options such as multidwelling, multipolicy, and age of home discounts.

To get a quote, you can contact an agent who works with Foremost or call the provider, or fill out an online request form and then Foremost will email a quote to you.

Some key discounts for property owners include multidwelling for insuring multiple properties with Foremost, multipolicy for having more than one type of insurance with it, and age of home for newer homes.

You can also reduce the home's risk profile and help make a vacant home policy less expensive by installing smoke alarms, carbon monoxide detectors, and/or a security system, which could qualify you for discounts the insurer offers.

To reduce the risk to the insurer, having someone keep up with outdoor landscaping and maintenance or check on the home regularly could also help bring down your premiums.

Some homeowners insurance companies even offer discounts for vacant home insurance, including multi-dwelling, multi-policy, and new home discounts.

Here are some insurance companies that offer vacant home insurance in Florida:

It's worth noting that not every carrier offers this form of home insurance in every state, so you may need to expand your search.

A vacant home in Florida is one that's currently unused for reasons other than seasonality, such as sitting on the market for a period of time or undergoing extensive renovations.

In Florida, a standard homeowners insurance policy typically covers homes that are unoccupied, but only if the homeowner intends to return and the utilities are still hooked up. However, if the home is truly vacant, a separate policy or endorsement is usually needed to adequately cover any incidents that may occur.

Vacant homes in Florida have an increased risk of things like fire, flooding, and theft since there's no one to monitor them on a regular basis. The prolonged period of time without someone to address issues can cause even more damage than if the issue was addressed immediately.

An unoccupied home is one where the homeowner is away from the property but intends to return. The utilities are still hooked up, and there is likely furniture in the home.

In cases like this, a standard homeowners insurance policy will generally be needed to cover the home. Seasonal or vacation homes are commonly unoccupied for part of the year but aren’t truly vacant since the homeowner is still using the space.

You should check with your insurance company to see how long your home can be unoccupied before you would need vacant home insurance. This will help you understand your specific coverage needs.

An unoccupied home is different from a vacant home, which is one that is currently unused for reasons other than seasonality.

Vacant homes have a higher risk of fire, as a failed heating system can cause a pipe to burst, leading to extensive water damage.

Fire and theft are two major risks associated with vacant homes, making them more vulnerable to break-ins and appliance theft.

The prolonged period of time before damage is discovered can cause even more damage than if the issue was addressed immediately.

A vacant home's appearance, such as a full mailbox or unmowed lawn, can attract unwanted attention and increase the risk of theft.

Home insurance only covers occupied homes, so if your home will be unoccupied for a period of time, you need vacant home insurance to protect your investment.