Friday, November 14, 2008

Insurance Coverage for Vacant Properties

Have you ever wondered whatever happens to all of those foreclosed homes or homes that have been vacated for one reason or another in the event of a fire or natural disaster? What is to protect the owner from potential losses? Well, there is an option out there that I wasn't aware of. Great Lakes Insurance Group offers vacant property insurancefor precisely those reasons. I wondered about this because the home across the street from me has been for sale since before I bought mine and when the forest fires were going on I wondered what might happen if one came our way. I'm sure most homes are still under some type of mortgage and are required to have insurance but I hear about people all the time that lost their homes and had no insurance. This type of insurance is perfect for investors who aren't living in the home. Great Lakes Insurance Group is a group of Independent Agents who don't work for one particular insurance company so they can be committed to providing you with the best quotes. Some of the companies that they work with are that I am familiar with are: Farmers, Foremost, First American, GMAC, and Hartford.

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