A Guide to Vacant or Unoccupied Home Insurance

What Is Vacant Home Insurance?

Vacant home insurance is an insurance policy for people who are temporarily vacating their homes. Usually, standard insurance doesn’t cover these unoccupied or vacant properties because of the risk attached. These properties are more prone to theft, vandalism, and slow emergency response time. This insurance policy picks up where your home insurance policy stops. It entails a number of coverages that protect your home from possible risks that can happen during the period when your house is unoccupied.

Can a Vacant Home Be Insured?

Yes, a vacant home can be insured. First, you need to scout for an insurance provider willing to offer you a vacant home insurance policy. Afterwards, compare rates and let the insurance provider know the risk evaluation of insuring your home. Discuss the property’s liability coverage and possible measures you have put in place to reduce the incidence of damage. For example, a home with a tight security system would be less prone to vandalism and theft.

What Does Vacant Home Insurance Cover?

Vacant home insurance covers a likely fire accident and other emergencies. It also covers home systems protection coverage, theft, vandalism, service line coverage, water/sewer backup protection, and weather events that put your building at risk, among others.

Vacant home insurance doesn’t cover damage that results from unforced entry, damage done by contractors you hired to work on your property, and other damage resulting from ongoing work in your home.

Do I Need Vacant Home Insurance?

It’s largely dependent on the prevailing risks around your vacant or unoccupied property. It would also help to not think of your vacant or unoccupied home as a vacation property. This insurance covers any reason your home is unoccupied for more than 30 days at a stretch, even if you’re recuperating in a hospital and will be away from home a long while or you bought a new home you haven’t moved into yet. Vacant home insurance is a necessity in all of these scenarios. You’re better off engaging a trusted insurance provider after evaluating your risk personally. From their expert advice and assessment of risks and coverage gaps you can know if you need vacant home insurance.

How Much Does It Cost to Insure My Vacant or Unoccupied House?

Only your insurance provider can accurately determine how much it would cost to Insure your vacant or unoccupied property. Usually, vacant home insurance is tailored to the risks and needs of your property. This means that your premium is largely influenced by the prevailing risks, how frequently this risk could occur, the possible damage that could result from this risk, and the cost of indemnity. At the very least, you can expect to spend $500 annually.

Why take the risk of inciting damages on your vacant or unoccupied property when an insurance provider can bear the risk. To get vacant home insurance, you need a trusted and experienced agency that can evaluate your risks. Contact our experts at James Page Insurance today for all your insurance needs.

All You Need to Know About Workers’ Compensation Benefits In Massachusetts

Massachusetts has workers’ compensation benefits. In the event that you’re sick or injured while working, you can expect to receive paid medical treatments and reimbursement of part or all of your wages/salary during the period of your disability. You’d have to file a claim to enjoy compensation/benefits.

Can You Get Workers’ Comp Benefits in Massachusetts for COVID-19?

Massachusetts Workers’ Compensation Law (Mass. Gen. Laws ch. 152, §§1(7A), 26 (2020) allows workers to receive compensation benefits for infectious disease if their job exposes them to the disease; however, the fact that your job exposes you is not sufficient to enjoy compensation benefits. You must be able to show that you have been infected by the infectious disease to make claims. Sadly, the case is different for COVID-19 as there’s little or no way of proving you got infected on the job. A few states have compensation benefits for healthcare workers and COVID-19 responders. Unfortunately, Massachusetts isn’t one of the states that have adopted this compensation plan.

 Temporary Total Incapacity Benefits in Massachusetts

TTI is the workers’ compensation benefit you get when an injury or sickness makes you unable to work. This benefit can be enjoyed as soon as you spend more than five days off work and you’re unable to work for a minimum of 21 days. Sadly, payments won’t continue if the following conditions hold.

  • You become able to return to work.
  • Your doctor confirms that your medical improvement options have been exhausted. This means you can’t get any better irrespective of medical efforts and trials.
  • You have received compensation payments of your salary (based on minimum and maximum payment rates) for three years. The minimum and maximum levels are subject to 60% of your statewide average weekly wages (SAWW) before your disability.

 Partial Incapacity Benefits in Massachusetts

Partial incapacity benefits are available when an injury or sickness makes you unable to return to work, and you earn less than you earned before the disability. You get 60% of the difference between what you’re capable of earning now and what you were earning before your injury/sickness, with a maximum cap of 75% of what you were receiving before your injury. Also, if the benefit you enjoy is more than twice the SAWW amount, you can expect a reduction from the insurance provider.  Partial incapacity benefits lapse when you’re able to earn what you earned before injury or after five years. A permanent disability can extend this period to 10 years.

 Permanent Total Incapacity Benefits

According to the law (Mass. Gen. Laws ch. 152, § 34a (2020)), you can expect to get your average weekly wage when the doctor confirms a permanent disability. The weekly payment you get is subject to the minimum and maximum for temporary benefits in the law.

 Other Workers’ Comp Benefits in Massachusetts

  • You can enjoy medical benefits and medications for injuries you get from working.
  • There’s provision for up to two years of vocational rehabilitation and training for injured people who can’t return to their former jobs.
  • Death benefits and a funded funeral service would be given to workers who die on the job.

This is what you need to know while considering workers’ comp insurance in Massachusetts. Do you need help with your business insurance?  If so, then contact the experts at James Page Insurance.  Our dedicated team is eager to assist you with all your coverage needs today.