Insurance 101 – Chapter 3 – Volume 14 – Vacancy Is an Unacceptable Risk

Vacancy Is an Unacceptable Risk

Vacant property represents an unacceptable risk to many insurers. A critical factor in acceptance is the length and cause of the vacancy and the expectations of the insured for the future. A commercial building containing no personal property is considered to be more hazardous than an occupied building by many commercial fire underwriters. Even a new building is subject to scrutiny until it is occupied.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

 

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