Insuring Vacant Proporty

Here's an important insurance concept you should understand.

Just get the gist of it, and I can help you with any details as needed.

Properties that are vacant or unoccupied present a higher risk of loss than property in use. Vacant means empty. Unoccupied means usual activities or operations have been suspended; however business personal property has not been removed.

Vagrants can use vacant buildings for shelter. And fires can occur with no one to send out an alarm.

Therefore, insurance companies will insure vacant and unoccupied buildings, but they want to know it.

Provisions are often found in property insurance policies eliminating or reducing coverage for a building that becomes vacant or unoccupied. These provisions may become effective after so many days of vacancy - 60 days is common.

If you don't know that, and don't take action to get properly insured, you could wind up with an uncovered claim.

Remember, it's what's NOT covered that becomes a problem.
Give me a call if you have any questions on this important topic.

Sincerely,

Elizabeth Wightman

Wightman Insurance

PS Please visit our web site at www.wightmaninsurance.com and sign in to make policy changes, request certificates and more!

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