Before providing Vacant Building coverage, a carrier may require that certain protections be in place. For example, it may ask the insured to warrant that the building has a central burglar alarm and that it is working.
Another common policy addition is the Secured Building Warranty, which guarantees that all the doors are locked, all the windows are secured or boarded up, and all possible openings are covered.
One insurer required that the building in question be completely wrapped in plastic wrap or they wouldn't insure it, recalls Mac Henderson, president of K&M Henderson Insurance Services Inc. of Granite Bay, Calif.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
