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What Is Short-Term Property Insurance?

Malcolm Tatum
Malcolm Tatum
Malcolm Tatum
Malcolm Tatum

Short-term property insurance is a type of home insurance protection that can be purchased for limited periods of time, providing protection for homeowners as well as renters. This type of property insurance may be used to provide protection during the process of renting a vacation home for the summer or even by homeowners who want to maintain some type of insurance on a home that is currently not occupied. Providing most of the same benefits as typical homeowner’s insurance, the cost of short-term property insurance is usually a little more expensive, but helpful in protecting the investment that an owner has in the property.

There are a number of reasons why short-term property insurance maybe a sound investment. One of the most common is to protect a currently unoccupied property in the event of vandalism or some other type of damage. For example, a homeowner who has relocated to another city and is still in the process of selling the former residence may want this type of protection in place until the home is sold to a new owner. Doing so ensures that in the unlikely event the home is damaged in the interim, there will be resources on hand to repair the damage and still be able to sell the home at fair market value.

Short-term property insurance can cover damage caused by vandalism.
Short-term property insurance can cover damage caused by vandalism.

There are also instances of using short-term property insurance as the means of protecting the property for the duration of a short-term lease. This is particular true when a property has been leased for a season or an extended vacation period. The insurance helps to provide the occupant with protections that are above and beyond any insurance that the owner of the property may have, easily helping to offset any claims that may result during the stay.

As with any type of insurance coverage, securing short-term property insurance requires comparing quotes and coverage ranges with several different insurance providers. Depending on the reasons for the coverage, the costs will vary somewhat, including the amount of monthly premiums. Unlike other types of property insurance that tend to require a longer commitment periods, most companies offering short-term property insurance are willing to extend coverage on a month-to-month basis, making it easy to cancel the plan when the coverage is no longer needed. Owing to the nature of this type of property coverage, the premiums are likely to be higher than traditional home insurance plans, but tend to provide similar protections without the added burden of early cancellation fees and other charges.

Malcolm Tatum
Malcolm Tatum

After many years in the teleconferencing industry, Michael decided to embrace his passion for trivia, research, and writing by becoming a full-time freelance writer. Since then, he has contributed articles to a variety of print and online publications, including , and his work has also appeared in poetry collections, devotional anthologies, and several newspapers. Malcolm’s other interests include collecting vinyl records, minor league baseball, and cycling.

Malcolm Tatum
Malcolm Tatum

After many years in the teleconferencing industry, Michael decided to embrace his passion for trivia, research, and writing by becoming a full-time freelance writer. Since then, he has contributed articles to a variety of print and online publications, including , and his work has also appeared in poetry collections, devotional anthologies, and several newspapers. Malcolm’s other interests include collecting vinyl records, minor league baseball, and cycling.

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    • Short-term property insurance can cover damage caused by vandalism.
      By: Sergey Mostovoy
      Short-term property insurance can cover damage caused by vandalism.