Typically, home insurance will not provide coverage if the home is left vacant for over 30 days. Homes for sale or homes purchased by investors for the purpose of small renovations or improvements in order to sell or lease the home is when a short term 3- or 6-month vacant home policy would be the best fit. Usually, these type policies are excess and surplus lines and fully earned, however the advantage of purchasing the 6-month policy versus the 3 month is you have more time to complete the renovations in the event we have one of our famous Florida weather events and the 6-month policy does offer a refund for unearned premium.
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Dwelling insurance is used for landlords to insure the property the tenant will occupy. There are different levels of dwelling coverages including:
Dp- This is the most basic type of dwelling policy. It is a policy that provides cash value reimbursement for named risks and events. This type is extremely limited and should only be used if you have no choice or if you have the ability and able to financially accept that large of a catastrophic loss.
Dp- This policy provides a policy that is replacement cost and not does limit to named perils. It is covered unless specifically stated that it is not covered.
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