Many businesses own vacant property they once used or have yet to use. This can be a problem since such property may be a good investment for the future but is likely to be considerably harder to protect from damage than occupied property. If vacant New Jersey business property is one of your Business Insurance concerns, make an appointment for a free consultation with Blue Lion Insurance Advisors, LLC in Red Bank to discuss your Vacant Property Insurance options.
We carry a full spectrum of Business Insurance because we are brokers, not representatives of any one insurance company. This means that we owe loyalty only to our clients and are free to be honest about the strengths and weaknesses of the policies we offer. Contact us now at (732) 649-1600 or online to discuss what Business Insurance package will best insulate your company against unexpected, costly occurrences.
Why Risks Are Greater for Vacant Property
Even if you have strong locks, an alarm system, fencing, barricades, and outdoor motion sensor lights, the fact that the property is vacant can make it a target for vandalism and malicious mischief. In addition, accidental harm can go undetected for prolonged periods of time, allowing minor problems to become catastrophes.
Examples of Harm That Can Come to Vacant Property:
- Graffiti, broken windows, cut wires — all can be expensive to remove or repair
- Stolen equipment or building materials can be costly to replace
- Weather-related problems, such as damage caused by windblown branches, rain or snow, can occur anywhere, but when they happen in vacant buildings they are far more likely to remain undetected long enough for rot or mold to set in or for animals to make their way inside for shelter.
- Fire, caused by lightning, a live wire, or in some other manner, can quickly get out of control if it is not in a visible location or if it occurs in the middle of the night.
- Plumbing problems resulting in leakage or backup worsen the longer it takes to discover them.
- Squatters sometimes make their homes in vacant buildings which can result
in all kinds of damage, criminal behavior, and elevated humane concerns.
Vacant Property Insurance Is a Wise Investment
Once you discuss Vacant Property Business Insurance with one of our knowledgeable insurance advisors, you will be pleased to see how comprehensive and reasonably priced it can be, particularly when you consider the losses it can cover. In addition to providing coverage for the types of damage listed above, Vacant Property Insurance can protect your company against liability if someone is injured on your property and is awarded damages.
Keep in mind that if your business property becomes vacant, you must get in touch with Blue Lion Insurance Advisors, LLC immediately. If you fail to give us sufficient notice (in some cases, 60 days after it becomes vacant), any loss you suffer may be denied.
Contact Our Experienced Vacant Property Insurance Advisors Today
There is no point in holding onto vacant property as part of your business assets if you don’t manage the risks inherent in doing so. While typical Vacant Property Insurance is considerably more costly than other Property Insurance, it is well worth the price since without it you stand to lose your entire investment. Contact us now to make sure your Vacant Property Insurance, like all your Business Insurance, is Blue Lion Strong™.