Vacancy is one of the biggest insurance issues for property owners.
A commercial or residential landlord policy may contain significant vacancy restrictions.
A building that becomes vacant may have reduced or restricted coverage for certain losses.
Examples can include:
- Vandalism
- Water damage
- Theft
- Glass breakage
- Sprinkler leakage
depending on the policy.
If a building becomes vacant, notify your insurance agent immediately.
A Vacant Building Policy may be required.