Do You Own Property That Is Sitting Vacant?

Perhaps you want to move but worry about leaving it empty while you sell or improve your current dwelling. Maybe you have commercial property that needs to be upgraded or put on the market. Vacant property insurance can cover the risks related to owning empty buildings. 

Risks Associated with Vacant Property

Certain property-related risks increase when a house or other building sits vacant. Unfortunately, standard homeowners insurance and many business property policies mayl not cover damages due to intruders in an unoccupied building or storefront. 

Customize Your Vacant Property Insurance

Since vacated properties don’t come with heavy liability coverage or risks, many vacant property policies cost less than insurance for standard homeowners coverage or business property insurance. Your insurance needs are influenced by a number of variables, including the type of property you need to insure. Popular coverage included in vacant property policies includes:

• Named peril coverage for protection in the event of fire, explosion, storm-damage, or other risks named in a given policy
• Vandalism coverage to help pay for damage caused by intruders
• Limited liability coverage to protect you in the event that you are held liable for an accident on the insured property
• Agreed loss coverage in the event of a covered catastrophe that renders your property a total loss
• Actual cash value coverage options for losses due to a covered event