Protection When Your Property Is Unoccupied
A property doesn’t stop facing risks simply because no one is currently living or operating a business there.
Vacant properties can face increased exposure to theft, vandalism, fire, water damage, weather-related losses and other risks that may go unnoticed when a building is unoccupied.
Quality Insurance Group helps Florida property owners and investors explore vacant property insurance designed for buildings that are temporarily or indefinitely unoccupied.
Vacant Property Insurance May Include
Building Coverage
May help pay to repair or replace an insured structure following certain covered losses.
Fire & Certain Weather Events
Coverage may be available for losses involving fire, lightning, wind and certain other covered weather events, subject to policy terms and exclusions.
Theft & Vandalism
Depending on the policy, protection may be available for certain losses resulting from theft, attempted theft, malicious damage or vandalism.
Premises Liability
May provide protection against certain claims involving bodily injury or property damage occurring at the insured property.
Additional Structures
Coverage may be available for certain garages, storage buildings and other structures located on the insured property.
Flexible Coverage Options
Depending on the property and insurer, coverage options may be available for different periods of vacancy and different types of properties.
Why Vacant Properties Need Specialized Coverage
Standard homeowners and commercial property policies may contain restrictions, exclusions or reduced coverage when a property remains vacant for a specified period of time.
That makes it important to notify your insurance provider when occupancy changes and to understand how vacancy could affect your existing coverage.
A policy specifically designed for a vacant property can help address risks associated with an unoccupied building.
What Types of Vacant Properties Can Be Insured?
Vacant property insurance may be appropriate for:
- Homes between owners or tenants
- Rental properties awaiting new tenants
- Commercial buildings awaiting occupancy
- Properties listed for sale
- Inherited or estate properties
- Properties undergoing certain renovations
- Real estate investment properties
- Buildings being held for future use
Coverage availability depends on the condition of the property, reason for vacancy, intended use, length of vacancy and other factors.
Protect Your Property Between Occupants
Whether your property will be vacant for a few months or for a longer period, leaving it without appropriate insurance protection can create unnecessary financial risk.
Quality Insurance Group can help you explore vacant property insurance options designed around your property and circumstances.