Most insureds are not aware of the restrictions in their commercial property insurance when a building is unoccupied or vacant. Vacant commercial real estate is at a higher risk of vandalism and theft. Damages to vacant properties can also be worse following a storm or fire, as no one was immediately available to assess the situation.
- May be able to write contents coverage for unoccupied buildings
- Can cover partially vacant buildings
- Package or monoline policies available: property and general liability
- Can write vacants with renovation for those under construction
- Excess liability limits available
- Replacement cost available for eligible risks
- Can write short-term policies of 3, 6, 9 or 12 months
- Lessor’s risk coverage is available
Contact your commercial lines broker for more information.