What Do You Need To Do To Get A Vacant Building Insurance?
It might be hard to get a vacant building insurance because insurance companies prefer not to work with vacant properties since they attract insurance risks. Possible risks are fire, break-ins, leaks, damaged pipes, vandalism and a possibility of injury on the property while it’s unoccupied. Insurance companies usually give a limit for vacant building insurance coverage of 30 days from the date of vacancy. An insurance company would usually cancel your policy and will inform you when exactly the coverage will end. A good tip is to prevent or avoid your existing building insurance policy from getting cancelled.
Top Tips For Vacant Buildings
The best way to fix this dilemma is to find someone who can occupy or rent the space immediately. On the other hand, if this seems impossible, do your best to keep the existing policy or coverage and prevent it from getting cancelled by your insurers. Since you are away, it is advisable to make your vacant building look like it is still being occupied to secure the place. Leave some furniture, keep some lights on, have someone check the place often. Also consider installing security cameras or an alarm to keep your property protected.
Ask An Expert
To get a vacant building insurance, easiest way is to contact your insurance carrier and ask for help. Try to save some money by getting different quotes and choose the best one for you. You can get quotes with Farmer Brown’s free service just by filling out a form bellow, and an agent will get back to you right away to help you out. Keep in mind that you don’t have to insure an empty property for the usual 12 months a policy gives. Insurance company may give you a cover for three, six, nine or twelve months and you can extend if you want to in case selling the property takes a while.