Vacant properties need insurance too. In fact, these are the most susceptible to break-ins and theft for the rather obvious reason that they are vacant.
Frequently this occurs when a home has finished construction and the owner is planning on renting it out. However, without a tenant or anyone living at the premises there is little to no security for the property and nothing to prevent a potential break in.
Most vacant insurance policies run in 3 month cycles because this usually gives the owner enough time to move a tenant in or move in himself. For a vacant policy, the main concern is insuring the structure as there is usually no personal property at the premises.
Discussing your needs with a qualified agent will help you to purchase a vacant policy while you find time to place a tenant within your property after closing escrow.
Additional Vacant solutions are available, such as vacant lots and apartment buildings. The Fairfax team is all about customizing solutions for a broad spectrum of insurances.