For agents and brokers looking to break into the Vacant Buildings market category, or to expand their existing book of business, here's a look at the latest trends and key coverage needs.
UNIQUE EXPOSURES DRIVE (USUALLY) HIGHER RATES
Commercial property owners often (but not always) face increased insurance rates when their building is considered “vacant,” a categorization that comes, depending on the specific terms of the policy, when occupancy falls below a certain threshold—typically when only 25-31 percent of the square footage is occupied.
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