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Did you know that a traditional homeowners or commercial property insurance policy is not designed to provide coverage for a home or commercial building that is vacant for 60 days or more?

Typically, a vacant property insurance policy provides the necessary coverage you may need for your commercial building while it is vacant.

As thousands of residential and commercial properties are now popping up on the real estate market, successful property owners are dumping more and more of their savings into these investments and growing their portfolios.

But because of tough economic times for families and small businesses, foreclosures are still a frequent occurrence and many times, properties are left vacant.

The Traditional Property Insurance Policy

While reviewing a traditional homeowners or commercial property insurance policy, some may be surprised to find a vacancy provision.  A provision is a legal clause or condition within an insurance policy contract that requires one or more parties to perform a particular requirement, usually within a specified time.

An insurance carrier usually allows for a property to be vacant for no more than 30 days.


Because vacant properties are more vulnerable to arson, theft, vandalism and damage from water. Certain important coverage such as fire damage, theft, etc. to a vacant home or property become excluded!

Vacant Home Insurance

Before you start to worry about your home while on vacation, it is important to understand the difference between a vacant home and an unoccupied home.

A home becomes unoccupied when it is left temporarily empty.  This is common when a resident goes on vacation or spends time at a hospital for an illness.  All personal property remains inside and functioning utilities.

A home is considered vacant when the homeowner, tenants or any other residents have moved out and taken all of their personal property with them.  This includes furniture, clothing, etc.  Utilities such as power, gas or water may be turned off.

vacant home insurance

Can A Vacant Home Be Insured?

Yes, a vacant home can be insured.  Typically, traditional insurance companies prefer homes to be fully occupied to insure them.  But in many cases, options do exist for vacant home owners who need their property insured.  Coverage available under vacant home insurance includes commercial general liability coverage, property coverage, commercial umbrella, and more.

How Much Does Vacant Home Insurance Cost?

One may ask whether or not vacant home insurance expensive?

The answer to this question: Surprisingly, vacant home insurance is not as expensive as one may think.  The average cost of vacant home insurance is $65 per month.

Companies that insure vacant homes determine insurance rates using a few rating factors including geographical location, property size, property value, property age, and more.  Older homes in areas with a high crime score, such as Chicago for example, can expect to pay higher premiums for vacant home insurance.

For accurate pricing, start a no obligation vacant home insurance quote.

Vacant Property Insurance

Commercial property owners may face a slight dilemma reviewing a property insurance policy for their vacant building.  Many insurance companies have their own underwriting guidelines see vacancy a little different than others.  In most cases, carriers will deem the building as vacant if 30% or more of the property is unoccupied.

In a traditional commercial property insurance policy, carriers may cancel or exclude certain coverage if the property is vacant for 60 days or more.

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Bridgeview Location

Insured ASAP
7213 W. 84th St.
Bridgeview, IL 60455
 📲 (708) 233-4848

Opening Hours

Monday: 9:00 am – 5:00 pm
Tuesday: 9:00 am – 5:00 pm
Wed.: 9:00 am – 5:00 pm
Thursday: 9:00 am – 5:00 pm
Friday: 9:00 am – 5:00 pm
Saturday: 10:00 am – 3:00 pm
Sunday: Closed

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