Vacant Properties Insurance
At Baldon Insurance Group, we understand the unique challenges and risks associated with managing vacant properties.
Whether you own a single vacant property or manage a portfolio of empty buildings, having the right insurance coverage is crucial to protecting your investments and ensuring peace of mind.
Our thoughful vacant property insurance solutions provide comprehensive protection, designed to meet the specific needs of property owners and managers.
Specialized Insurance Solutions for Vacant Properties
Why Choose Vacant Property Insurance?
Vacant properties present a unique set of risks, including vandalism, theft, and unreported damages. Traditional property insurance policies often do not cover properties that are unoccupied for extended periods. Our vacant property insurance is specifically designed to bridge this gap, offering protection against a wide range of potential issues.
Who Needs Vacant Property Insurance?
Our insurance solutions are ideal for a variety of real estate entities, including:
- Commercial Property Owners: Protecting non-residential vacant properties.
- Property Managers: Managing multiple vacant buildings and ensuring their safety.
- Real Estate Investment Trusts (REITs): Safeguarding investments in vacant properties.
- Developers and Renovators: Covering properties under renovation or awaiting sale.
- Mixed-Use Property Owners: Providing comprehensive coverage for vacant units within mixed-use buildings.
Core Coverages for Vacant Property Insurance
General Liability Insurance
Our general liability coverage protects against claims that your vacant property caused bodily injury or property damage. This policy helps meet contractual needs for additional insureds, waiver of subrogation, and primary and non-contributory coverage. For properties with more complex risks, our dedicated Complex Liability group can create a thoughful policy to address high hazards.
Property Insurance
Our property insurance protects your vacant buildings and facilities. Key coverage extensions can include:
- Newly Acquired Property: Protection for newly acquired vacant properties.
- Utility Services Interruption: Coverage for losses due to utility service disruptions.
- Ordinance or Law: Covers costs related to compliance with new building codes.
- Green Coverage: Costs to upgrade to energy-efficient systems after a loss.
- Debris Removal: Expenses for removing debris following a covered loss.
- Preservation and Protection of Property: Covers measures taken to protect property from further damage.
- Outdoor Trees, Shrubs, Plants, Lawns, or Sod: Protection for outdoor landscaping.
Umbrella and Excess Liability
This coverage provides your vacant property business with worldwide protection and limits up to $25 million, ensuring you are safeguarded against large claims that exceed the limits of your primary liability policies.
Builder’s Risk Insurance
Builder’s Risk Insurance protects contractors and owners from unique risks on both new construction projects and renovations. This coverage includes protection for construction materials, heating and air-conditioning equipment, labor costs, and temporary structures like scaffolding and construction signs.
Pollution Legal Liability
Designed specifically for property owners, this coverage protects against liabilities arising from environmental contamination, ensuring your property remains compliant with environmental laws and regulations.
Cyber Liability Insurance
In today’s digital age, cyber liability insurance helps your business prepare for, respond to, and recover from cyberattacks. This coverage includes protection against data breaches, ransomware, and other cyber threats.
