Vacant Property

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Buildings that are vacant for extended periods of time are susceptible to vandalism, theft, and arson, often due to a reduction in maintenance and security oversight. Many property owners are surprised to learn that if their property is vacated, coverage becomes void after sitting empty for a designated span of time. Griffin has a number of markets - for both residential and commercial risks - and coverages to ensure that all types of vacant property receive the broadest form possible with the least expensive premium.

Product Features

3, 6 and 12 month terms available
25% minimum earned on some 12mos. terms
Monoline or package policies available
Special Form can be available if building is newer or updated

Property:

Building coverage
Basic, Broad, or Special Form available
Replacement cost/actual cash value
TIV in-house limits up to $4,000,000, higher limits available through brokerage markets

General Liability:

Primary limits up to $2,000,000
Medical payments up to $10,000
Additional Insureds available
Coverage limited to designated premises
Excess/Umbrella limits up to $25,000,000
A no-deductible option is available

Eligible Risks

Foreclosed properties, if owner has moved
In-house authority if vacant for 2 years or less, can write long term vacancies with carrier referral
Vacancies with remodeling exposure
No bankruptcies
Under renovation

Personal Lines Dwelling Fire - For residential risks, to place coverage on a Dwelling Fire coverage form, see this product instead. Submit Vacant Questionnaire along with ACORD 84 Dwelling Fire application.

Quoting & Applications

*Coverage may not be available for all accounts or in all states

*Applications will apply to most markets but in certain circumstances additional applications may be needed

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