Empty offices, stores and industrial buildings are everywhere these days and easily spotted because of signs advertising that the property is “For Sale”, “For Lease”, or “For Rent”.  The building’s owner or tenant can be in for a very unpleasant surprise should peril strike during this time! 

In a standard Commercial Property (ISO form CP0010) insurance policy, a “building” is considered vacant when at least 31% of the building area does not contain enough business personal property (contents) to conduct customary operations.  Once a building is vacant for 60 days, certain causes of loss are no longer covered and payment for a loss that is still covered will be reduced by 15%.  This can come as real blow – but it can be avoided.

If your building becomes vacant, ask your agent to add a Vacancy Permit to your policy.  A Vacancy Permit is an endorsement that provides a way to "buy back" the automatic coverage reductions during vacancy.  If an underwriter is not willing to allow a Vacancy Permit to be added to your policy, it may then be necessary to purcase a special insurance policy designed specifically for Vacant Buildings.

In addition to increased risk to your building, liability risks also increase during vacancy.  Call today and let our knowledgeable staff find the right coverage for your Vacant Building.

Be sure to ask us about other important parts of your insurance program, including: Commecial Auto; General Liability; Commercial Property; Workers Compensation; Umbrella Liability;  Employee Benefits; Bonds.

Getting a QUOTE on VACANT BUILDING INSURANCE is quick and easy!

One of our knowledgeable representitives will contact you shortly!