Do You Own Unoccupied Property?

October 5, 2011 at 9:26 AM | Posted in Home | Leave a comment
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Owning vacant property can invite a host of loss exposures that can continue and worsen if nobody is made aware of the issue.

With no one on the premises to notice, a water pipe break could cause water damage.  A vacant building could tempt undesirable visitors: youngsters thinking this is a new “fun place to go” at night, vagrants who need a place to stay out of public sight, vandals, and the like. In recent reports, vacant homes were broken into and the copper piping was stolen.  Most insurance companies will non-renew when they are notified a home is vacant, and in some cases can even cancel mid-term.

Once a home is vacant for 30 consecutive days, the coverage under a home or dwelling fire policy becomes limited due to the vacancy clause in the policy.  It will limit or exclude coverage for vandalism, glass breakage, and even fire or lightning.  Unfortunately, the discovery of a vacant property usually happens at the time of the claim resulting in the claim being denied.

Don’t let this happen to you.  If you own vacant property, or know it will soon become vacant, contact us at 888.850.9400 to obtain vacant property quotes.  We can provide you the coverage you need.


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