Vacant Building

What Does Vacant Building Mean?

A vacant building is a building that has been abandoned, unoccupied, or empty for a certain amount of time. In the context of insurance, vacancy can be highly relevant for property insurance coverage. The reason is because many property insurance policies feature exclusions for coverage if a building is left vacant for a certain time period.

Insuranceopedia Explains Vacant Building

Property insurance companies often exclude coverage for periods of vacancy because the risk of loss can go up significantly with vacant buildings. For instance, they often become targets for vandalism. This is why many old buildings often get windows broken or have graffiti drawn on them. Water damage can also go unnoticed and get much worse in vacant buildings. Therefore, many property insurers cease coverage if a building is vacant for 30 or 60 days.