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Vacant Property Risks & Your Insurance – CoverLink Insurance



Whether due to financial difficulties or otherwise, your business may have a number of vacant properties. When determining what type of risk management efforts are necessary, it may seem that there would be significantly fewer risks compared to managing a fully operational commercial building. That’s less traffic and therefore less liability – right?

In reality, vacant property risk presents a unique set of risks that must be effectively managed to avoid costly losses at a time when money can already be tight for building owners. Empty buildings may be empty, but they should not be left unattended. Evaluate the following risks regularly to avoid costly losses.

Undetected damage

Small property hazards—like an exposed electrical line or a slow water leak—are typically discovered and repaired before they cause major damage when the building is occupied. However, when buildings are empty, these small hazards are less likely to be addressed immediately and can escalate into larger problems. Gradual damage, such as mold, can be just as threatening.

Crime and liability risks

Even if there are no tenants, it is important to maintain security and surveillance efforts to reduce costs, as you may be held liable for criminal activity or accidents that occur on your premises. Vacant properties can attract intruders, arsonists, thieves or other criminals. It is important to have either an on-site security presence or surveillance to minimize trespassing or other criminal activity.

Environmental risks

Facilities that store chemicals or other contaminants on site must have these materials removed or stored appropriately to prevent leakage and leakage. Companies can be held responsible for remediation in the event of groundwater contamination. Underground storage tanks can pose an even greater threat to the environment and the property owner.

Loss control steps for vacant property risks

Follow these loss control guidelines to prevent damage problems in vacant properties:

  • Notify your insurance advisor when a property is vacant and check your insurance conditions that apply to vacant properties.
  • Advise local authorities.
  • Remove unnecessary materials and combustible materials from the premises.
  • Inform local fire departments of remaining materials that may impede firefighting.
  • Inspect facilities regularly or hire guard service for daily observation.

Contact us to review your vacant property risks

We have the insurance solutions you need to protect your property, occupied or not. Contact us today at 937.592.9076 to evaluate your company̵

7;s unique exposures and learn how to best stay covered with Vacant Property Insurance.


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