Vacant Home Insurance Charlotte NC

Vacant homes are more vulnerable to damage and blight, they can affect the value of nearby homes and they are an extra insurance risk. Cut the risk and save a few bucks.

by Broderick Perkins
© 2008 DeadlineNews.Com

Deadline Newsroom - Here's a market twist you probably overlooked: It may be cheaper -- and safer -- to keep a home for sale occupied, especially if it doesn't sell soon enough.

With swelling inventories of vacant homes on the market, more and more home sellers are learning the hard way -- your home owner's insurance policy can expire if the home is vacant for more than 30 days.

The nation's supply of empty homes rose to a record 18.6 million in the first quarter 2008, according to the U.S. Census Bureau.

The vacancy rate, the share of unoccupied homes for sale, also hit a record of 2.3 million, up nearly 3 percent from a year ago.

Some of that higher vacancy rate is due to the estimated more than 1 million foreclosed and repossessed homes on the market right now, according to the Mortgage Brokers Association. Other vacant homes have been abandoned by those yet to reach foreclosure, but who are no longer able to make the payment. ...

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