How should I insure a vacant building?
Let's start by going over what "vacant" means. A vacant building is one that is without regular occupants and whose former occupants have left with no intention to return. A building is deemed vacant if it is in this condition for more than 30 consecutive days.
It is, however, not simply an unoccupied building. A a build is unoccupied if it has no regular occupants but still contains things such as furnishings and other personal items. A vacant building, on the other hand, is devoid of its usual contents (see Business Insurance: Building, Contents and Stock to learn more about commercial insurance for housing content)..
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Jacques grew up around the insurance industry and began actively participating in 2013. Since then, he has gotten a Level 2 license, won an Insurance Council of BC award in 2015 for academic excellence in the insurance licensing courses and educates insurance professionals through PNC Learning.
In his day job as an insurance broker, he helps businesses with creative risk management solutions and strategic advice when it comes to insurance.[Read full bio]