What if the building I own or occupy becomes vacant or partially vacant?

A vacant building presents different insurance risks than an occupied building. Your Business Owners policy contains a provision which may limit the loss payment if your building becomes vacant.

If you are a tenant rather than an owner of the building in the building in which your business operates, it will be considered vacant if it does not contain enough business personal property to conduct customary operations. If you are the owner of a building, at least 31% of the building must be rented and used by a lessee or sublessee to conduct their customary operations or used by you to conduct your customary operations, otherwise it will be considered vacant.

If the building where loss or damage occurs has been vacant for more than 60 consecutive days before loss or damage occurs, the following causes of loss may be excluded: vandalism, sprinkler leakage, building glass breakage, water damage, theft, or attempted theft. In addition, all other causes of loss may have their payments reduced by 15%.

Please call us to discuss your coverage options if you feel your building may be considered vacant.