Does the ISO Vacancy Permit form CP 04 50 07 1988 give back all the coverages (vandalism, sprinkler leakage, unless you have protected the system against freezing, building glass breakage, water damage, theft, attempted theft), or is it only providing coverage for vandalism and sprinkler leakage?

New Hampshire Subscriber

The vacancy permit extends the period of time that a building can be vacant and still be covered under the policy. There should be a period of time for this vacancy permit to be in effect. In the endorsement you provided, there is no period of time indicated, so it will be in effect for the policy period. In effect, this is giving the insured coverage without a vacancy penalty for this building.

Continue Reading for Free

Register and gain access to:

  • Quality content from industry experts with over 60 years insurance experience, combined
  • Customizable alerts of changes in relevant policies and trends
  • Search and navigate Q&As to find answers to your specific questions
  • Filter by article, discussion, analysis and more to find the exact information you’re looking for
  • Continually updated to bring you the latest reports, trending topics, and coverage analysis