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Vacant Building

Our Vacant Building package is designed for residential and commercial vacant building risks. We can consider coverage for vacant buildings with or without renovations, vacant tenant spaces and vacant condominiums. Our product can be quickly and easily quoted for 3, 6, 9 or 12-month policy terms on a monoline or package basis.

Ineligible Vacant Building

Please note we cannot offer coverage to the following:

  • Currently damaged (fire or otherwise)

  • Not locked and fully secured from unauthorized entry

  • Undergoing structural renovations

  • Tenants have been evicted from the premises within the past 60 days or are in the process of being evicted

  • Plans for demolition during or after our policy term for Property and plans for demolition during our policy term for general liability

  • Swimming pools on the premises

  • Risks located on a farm or in AK, LA or WV

Available Coverage for Vacant Building

  • No restrictions on length of vacancy

  • Vandalism is included with property coverage

  • No liability deductible

  • Short-term policies can be extended by endorsement or if the occupancy changes we can consider coverage under one of our other products

  • Independent contractor's coverage available

  • Special form and replacement cost coverages are available for some risk

  • Renovation work up to $250,000 in cost (non-structural)

  • Business Personal Property coverage up to $250,000

Coverage Limits Available for Vacant Building

  • Property limits up to $5,000,000 in total insurance value (depending on risk characteristics)

  • Contents coverage up to $250,000

  • In coastal zones, property is available up to $500,000 per location excluding wind and hail

  • Vacant condominium units property is available up to $500,000 per unit

  • Liability limits up to ◦ $1,000,000 each occurrence/$2,000,000 aggregate

  • Additional excess liability limits can be provided up to $5,000,000



Claim Example for Vacant Building

Property: Vandals broke into a house, which was recently vacated. There was $15,000 in building damage.

Property: The building owner has just signed a lease with his new tenant to rent his building for a year. Two days before the tenant moves in, there was a lightning strike damaging the HVAC system. It took 4 weeks to repair the damage and the tenant could not move in until all repairs were made. The owner suffered a property loss to the building of $4,000 and loss of rental income of $1,200.

Property: Vagrants broke into the insured’s vacant building during an ice storm. They started a fire to keep warm. The fire soon became hostile and resulted in a $300,000 loss. The insured was indemnified under the policy for this loss.

Property: Wind tore off sections of our insured’s vacant building. Water damage resulted causing $138,000 in property damage. The insured was paid under the policy for the damage sustained by the building.

Property: Extensive vandalism was caused by a break-in at the insured’s premises with evidence of forced entry. Most of the damage was to the walls and occurred during the theft of copper piping. The damage resulted in a loss of $116,000. The policy indemnified the insured for his claim.

General Liability: A child tripped and fell while walking on the cracked sidewalk in front of the insured’s property. The child sustained a broken ankle and $4,500 in medical expenses.

General Liability: A trip and fall loss occurred on a cracked sidewalk in front of the insured’s premises. The man sustained injuries to his knee and elbow which required surgery. This resulted in medical costs of $185,000. A claim was presented and the claim was settled for pain and suffering including medical expenses.

General Liability: A vacant building owner kept a German Shepherd on his premises for security reasons during construction. The dog escaped from the yard and bit a nine year old boy who was riding his bicycle past the property. The boy had lacerations to his face which required medical treatment. The boy sustained damages of $103,000 and his parents filed a lawsuit against the insured. The policy responded to the claim and the suit was settled. An additional $7,000 was paid in defense expenses.

General Liability: A piece of metal roofing material fell from our insured’s vacant building and injured a person walking below. The claimant sustained serious back and neck injuries and was unable to work. He hired an attorney who filed suit against the policyholder. The loss was $300,000 for medical expenses and lost wages and an additional $40,000 in expenses. The claim was settled prior to trial and $40,000 was paid in defense expense.

Equipment Breakdown: A cast iron boiler experienced a low water condition and was destroyed causing $12,760 in property damage.

You must be an appointed USASIA Insurance Services retailer to use these programs. Quotes obtained via these programs will only be bound IF you are a previously appointed retailer with USASIA. PRIOR TO BINDING, check with your branch to determine any and all applicable taxes and fees. If you need additional pricing considerations on any web quote received via these programs or if your submission is declined, please call your USASIA representative.

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