Is Your Building Properly Insured?

If you own a building that is now, or is expected to be “predominately” vacant soon, you probably already know that vacancy may attract crime, dumping, trespassers, etc. Here’s something you may not know: once a building is considered vacant, insurance policies change. For example, many policies state that a property that has been vacant for 60 days or more will not be covered for things such as theft or vandalism. I urge you to take a look at your insurance policy and determine how they define a vacant property (many times it doesn’t have to be 100% empty). Give your insurance company a call to discuss your specific situation.