A fire recently gutted a four-story vacant building that was uninsured. Fire officials reported the next day the building had to be demolished because it was unstable after several floors in the structure collapsed.
In another case, a fire ripped through a historic vacant building in Winnipeg resulting in $2.4 million in damage. Fire, windstorms, lightning, and liability claims can lead to massive losses in vacant buildings due to infrequent monitoring.
Vacant Property Coverage is designed to protect against financial losses relating to your clients’ valuable property investments during periods of short-term or long-term vacancy. Speak to your clients about the occupancy status of their investment properties in hopes of saving them from claim denial and out-of-pocket costs in the event of a loss.
Coverage Details and Features
- General Liability limits up to $5 million occurrence
- Binding authority for property limits $10 million per location
- Package or monoline policies available
- Policy terms of 3 or 6 months available (9 or 12 months available with specific program only)
- Independent contractors coverage available
- Broad Form available on qualified risks
- Theft coverage available
At Burns & Wilcox our expertise becomes your expertise. Our marketing materials are designed to help you give your clients what they want to hear – yes to almost any hard-to-place-risk.
Applications for this product may vary. Please click below to find the office nearest to you for assistance.Office Locations