Specialty Dwelling Insurance
Looking for Rental or Vacant Property Insurance in California?
AA Lares Insurance Services represents many different carriers who can insure your rental property, or specialty use property.
If you are a landlord and 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.
When Is Specialty Dwelling Insurance Necessary?
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.
If you have a property that fits these parameters, give us a call and we can quote your property to see who has the best product for you.
