Homeowners Insurance Considerations for Military Servicemembers
What happens if your home is vacant? Many homeowners policies have a "vacancy clause," and if you are gone for an extended period, you could trigger it. In this event, some or all of your coverage may not apply in the event of a loss. The precise definition of vacancy can vary from policy to policy. Some policies, for example, might not pay claims if your house is unoccupied for 60 days or more. However, many companies offer an endorsement that will provide coverage for a dwelling that is unoccupied for an extended period of time. You should consult with your insurance agent or company to learn how the company defines vacancy and whether the company will pay claims if a house is unoccupied.
Check your coverage. It is a good idea to review your homeowners policy with your agent before you leave - it could help you avoid a dispute or disagreement in the future. Make sure your policy limits are sufficient to cover your home and your personal property at today's costs. You may want to increase your coverage if you have made additions or improvements to your property.
Personal property coverage. The military generally will not pay to repair or replace property that is damaged or lost in military housing or in a war zone. Homeowners insurance typically covers personal property that you take with you while traveling, but most policies exclude coverage for damage caused directly or indirectly from war. Talk to your agent about whether personal items that you take with you during your deployment will be covered if they are lost, stolen, or damaged.
Renters Insurance Considerations for Military Servicemembers
If you rent property, you should consider renters insurance often referred to aspersonal property coverage. In many states, if you rent your home and have renters insurance, your policy will typically pay to repair or replace personal property you take with you while traveling. However in many states, most policies exclude coverage for damage caused directly or indirectly from war. Ask your agent or company whether your renters policy will pay to repair or replace any property you take with you during your deployment.
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