Specialty Dwelling Insurance

If you own a rental property or a home that happens to be vacant, a traditional homeowners insurance policy will not work. You need what’s called a “specialty dwelling” insurance policy. This is because traditional homeowners insurance excludes coverage for properties that are not owner-occupied. In other words, if you don’t live in the house, it’s only covered by a specialty dwelling policy.

There are multiple scenarios where specialty dwelling insurance is necessary:

Rental Properties — Specialty dwelling insurance is the only type of policy that will work for a rental property.

There are certain coverages that you need as the owner of a non-owner occupied property that are only provided by a specialty dwelling insurance policy like for example landlord furnishings, and tenant liability.

Vacant Homes — Vacant homes can present all kinds of problems which is why they can be extremely difficult to insure. Most insurance companies want nothing to do with a property that is vacant. We can help you though.

Seasonal & Vacation Homes — In many cases, in order to insure a secondary, seasonal, or vacation property, most companies require that you insure your primary residence with them as well, which isn’t always possible.

Older & Lower Value Homes — If your home is extremely old and/or the market value is considerably lower than the cost to rebuild it, many insurance companies may hesitate to cover it. Older or lower-valued properties present a number of problems, but we have access to specialty policies specifically for these types of homes.

Credit Problems — Some homeowners might not have strong enough credit to qualify for a “standard” homeowners policy. When this is the case, specialty dwelling insurance is the alternative.

Homes Under Construction — In some situations your renovation, addition, or reconstruction project may require a specialty dwelling policy.

Give us a call and we can quote your property to see who has the best product for you.