Not everybody loves insuring vacant homes. But Farmers does. Lots of homes don't qualify for standard insurance for many reasons. The Farmers Vacant Program offers specialized coverages developed for the unique insurance needs of a vacant home and its owner. Homes in the Vacant Program can be for sale, in the name of an estate, or under renovation. We'll accept vacant homes valued up to $1 million, and there is no restriction on the age of the home.

Farmers gets it.
Our policy is also annual – it doesn't have to be renewed in three-month blocks and it can be cancelled at any time (subject to minimum earned premium).

Vacant Home Insurance Coverage

We cover vacant properties. Unlike other companies, we offer a policy that is renewable for up to three years, with pro-rated cancellation. That means you won't get stuck paying for a longer term than you need. Vacant homes that are eligible include:

• Homes vacant for less than 36 months
• Homes for sale
• Homes in the name of an estate
• Homes under renovation

Property Coverage

Property insurance covers physical loss to your home. You may also purchase coverage for your other detached structures or personal property. While no insurance policy covers everything, your policy should cover a wide range of possible damages or causes of loss.

• Named peril coverage - Covers the perils (causes of damage such as fire, wind, hail, etc.) which are specifically named in your policy.
• Vandalism and Malicious Mischief Coverage

Liability Coverage

Liability insurance covers you if you're found legally responsible for a covered injury or property damage to someone who doesn't live in your home. It compensates injured persons for their medical bills, lost wages, pain and suffering and property damage, and if the coverage applies, legal counsel is furnished if you're sued.

Settlement Methods

Your settlement method depends on which Farmers policy you choose and whether or not you purchase any optional endorsements.

• Actual Cash Value. Our base policy has an Actual Cash Value settlement. An ACV settlement is the cost to replace or repair you damaged property, with a deduction to reflect the age and condition of the damaged property.
• Agreed Loss Settlement. An Agreed Loss Settlement means that in the case of a covered total loss to the home, your settlement will be the Amount of Insurance listed on your Declarations Page, with no deductible on the coverage for your home, unless stated elsewhere in the policy.

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Features and Discounts

Policy discounts vary by state and chances are one or more will apply to your policy. Please contact a Farmers agent to see what specific discounts are available in your area. Higher deductibles can help lower the cost of your premium and flexible payment plans help you keep your monthly budgeting on track. Together they can help you keep you premium payment affordable.

Availability

Farmers' vacant home program is offered in many, but not all states at this time. Programs and coverages can vary among states. To qualify for coverage, homes must meet state-specific eligibility guidelines. Please contact a Farmers agent to receive full details.

What to Look For in a Vacant Home Insurance Policy

For the most security, here are some things to take into consideration when choosing an insurance policy for a vacant home:

• Security and peace of mind: Look for companies that have experience with the kind of insurance you want. How long have they been in business? A company with a long, solid history will provide you with both expertise and stability.
• Coverage Essentials: Does the company you're considering offer the coverage you need for your vacant home and other structures, and can you renew your policy for an additional 12 months, if needed?
• Additional Coverages: A good company will recognize your special circumstances and work to offer the kinds of coverages you want, like vandalism and malicious mischief coverage, to make sure your property is properly covered.
• Choice of Payment Plans and Deductibles: Flexibility means having choices. When you own a vacant home, being able to cancel your policy without a financial penalty is important. Also, having your pick from several deductible levels will allow you, if you desire, to lower your insurance cost by selecting a higher deductible. A choice in payment plans is important because everyone budgets their money differently. Some prefer to pay all at once and be done with it. Others like splitting up the payments over time. Whatever your preference, having the option to choose is what counts.

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