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Commercial Insurance for Vacant Buildings: Why It's Important (2023)

Updated: Feb 5, 2023

Original Article Date: 01/30/2023

Staff Writer • Buffalo, NY

Presented by

Owning a vacant building can be a challenge for many property owners, but it doesn't have to be. While a vacant building may represent a temporary pause in financial gain, it can also present potential risks such as vandalism, lightning damage, or fire. In these situations, commercial insurance for your vacant building is a smart way to safeguard your investment and minimize any potential financial impact. Here are several reasons why vacant building insurance is critical to maintain.

vacant building insurance

🛡️Protection against physical damage

Vacant buildings are often targets of vandalism and are prone to fires, which can cause significant damage. Commercial insurance policies for vacant buildings can cover the cost of repairs to the property in event of certain perils such as Fire, Vandalism & Malicious Mischief, Lightning and Internal Explosion. Special Form vacant policies can provide all-risk coverage as well, depending on the buildings condition.

🛡️Liability coverage

In case someone is injured on your property, you could be held liable for their medical expenses, lost wages, and other damages. Vacant building insurance can provide liability coverage to protect you from these expenses.

🛡️Local or state regulations

Some cities and states have regulations requiring property owners to have insurance on their vacant buildings. By obtaining the proper coverage, you'll ensure compliance with local laws and avoid potential fines.

🛡️Recover from financial loss

If your vacant building suffers from a covered loss, such as a fire or storm damage, your insurance policy can help you recover the costs associated with repairing or rebuilding the property.

🛡️Peace of mind

Knowing that your vacant building is insured can give you peace of mind, allowing you to focus on your other business operations.


Having commercial insurance for your vacant building is essential to protect your investment and ensure that you're covered in the event of financial damages, liability, or other risks.

Don't wait until it's too late to secure insurance coverage.

Contact the experts at Encompass Agency today and get the peace of mind you need.

To learn more about how Encompass Agency can help insure you click the Request Appointment button below


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A licensed agent in FL, NY, OH, PA, TN, SC & VA


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