What is Vacant Building Insurance?

It protects vacant properties from risks like fire, vandalism, theft, and weather damage during the interim period before a property is leased or sold. Coverage includes Property and optional General Liability.

Who Needs It?

Owners of temporarily vacant properties, whether due to sale, renovations, or waiting for new tenants.

Risks:

Vacant properties are prone to theft, illegal squatting, vandalism, arson, and liability risks from injuries on the premises.

Policy Coverage:

Includes Property and GL limits, sprinkler leakage, water damage, theft, and more. It excludes earthquake damage and business personal property.

Differences from Builder's Risk Insurance:

Builder’s Risk covers properties under construction, while Vacant Building Insurance focuses on properties that are temporarily unused.

Security Measures:

Maintaining the property, notifying authorities, and securing the premises to mitigate risks.

Policy Details:

Vacant Building Insurance policies are flexible, with coverage available for 3, 6, 9, or 12 months and can be easily extended.

Builder’s Risk vs. Vacant Building Insurance: What's the Difference?

Builder’s Risk insurance provides coverage for properties under construction or renovation, protecting against risks like fire, theft, vandalism, and other hazards. It safeguards the insured's interest in materials, fixtures, and equipment awaiting installation, covering losses from specified perils. Policies may also extend to construction materials, temporary structures, property in transit, fencing, scaffolding, and landscaping.

Vacant Building insurance, by contrast, is tailored for properties that are unoccupied, such as buildings awaiting sale, between tenants, or under renovation but not currently active.