Golden rule to protect your vacant property
Are you spending this summer at the camp/cabin/cottage? Are you selling or renting a home that’s still sitting on the market? Or do you have an out-of-province property that you won’t be able to visit due to travel restrictions? If you’re leaving any property unoccupied for longer than usual, you can take steps now to avoid unnecessary risk and costs.
While vacant properties are relatively common, the average person may not even realize their property fits this description — or how easy it is to update their insurance status.
“This year, it’s especially important to consider buildings or homes that you might be leaving unoccupied for an extended period of time. People are thinking about their properties differently, maybe taking off for the summer and leaving a property behind,” says Dom Mandaliti, Manager of Loss Control with Wawanesa Insurance.
A lot of people assume their home insurance covers them — and it does, but only up to a point. That’s why it’s helpful to understand, from an insurer’s perspective, the difference between an unoccupied property and a vacant one, and how it affects your policy.
As a property owner, you can take steps to help ensure your vacant property is protected. Our company partner Wawanesa Insurance has a great resource and checklist of best practices that can help to reduce risks and losses on your unoccupied or vacant property.