Property Casualty 360

Vacant Buildings Insurance

Those risk managers who buy vacant building insurance, and the brokers and agents who help arrange vacant building insurance coverage, know that the vacant building insurance world presents many special challenges. Perils such as vandalism, theft, and water damage can be eliminated from a standard policy when a building is vacant, making vacant buildings insurance an important coverage for building owners to consider. This special section dedicated to vacant building insurance will keep you informed about key trends with featured reports, interviews with experts, white papers, recommended resources and the latest news.

Head of the Line

Jeffrey L. Shearman

Senior Risk Engineering Consultant, Zurich in North America

“Truly vacant buildings are properly buttoned down for the long haul. Climate and alarm systems often are shut off, contents are removed, the building is infrequently serviced, and it may be secured in a more permanent manner with, for example, its windows and doors covered.”
Mark DeLawter

Real Estate Practice Leader, Zurich North America Commercial

“I think a large number of owners or even the person wearing the risk-manager hat may not fully understand what the vacancy restrictions are in their policy. We're seeing so many risk managers wearing different hats within an organization that they're not up on it. In some cases, they're relying on an outside agent.”

Featured Report

Rampant Copper Theft Raises Coverage Questions

Escalating U.S. copper theft presents challenges to insurers when determining reimbursement for property owners in these high-value losses.
Multiple Buildings, One Policy: The Vacancy Clause

Questions regarding coverage for vacant buildings come up frequently in the FC&S "Ask the Experts" queue. The following examples illustrate two different outcomes regarding multiple buildings insured under one policy.