Did you know that a home owner must modify her home owner’s insurance policy to retain certain coverage if the property is vacant for more than 30 days?

I heard something about this from George Head (#4 sales person from the inception of Prudential®, Americana Group, REALTORS® and currently as sales manager at Southwest 702 496 2222) and asked Stephanie Cove of the Michael Ashe Agency to comment.

Here’s what I learned:

Vacant Home Policies– Most Nevada insurance carriers do not want the liability of a vacant home. Unless the insurance policy is stated as a “vacant home” policy, if a mortgage company notifies the current home owner’s insurance carrier that the residence is vacant the insurance company will cancel the policy with 30 days notice. If a home becomes vacant, after 30 days the coverage for vandalism and malicious mischief is automatically removed unless you switch the policy to a “vacant home” policy.

The Michael Ashe Agency can write a “vacant home” policy through Foremost Insurance which is an affiliate of Farmers Insurance. There is a higher premium rate on these policies due to the liability exposure. Stephanie Cove, Michael Ashe Agency, 1840 E. Warm Springs Rd. #105, Las Vegas, NV 89119, (702) 458-8800 ph, (702) 458-8811 fax.

Have your Sellers contact Stephanie at (702) 458-8800 to see if they need to make a policy change.

The photo above is In honor of the Olympics Beijing 2008, from the left Misty May-Treanor  and Kerri Walsh.