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The Risks of Vacant Property Overview

The Risks of Vacant Property Overview

The Risks of Vacant Property Overview

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Theft, trespassing, fires and other losses are constant threats on vacant construction sites and/or vacant property. Losses might include not only the value of damaged or stolen materials like wiring, building supplies, etc. but also the liability from an individual being injured on the property and the loss of time if a crucial piece of equipment is damaged or stolen.

Risks of Vacant Property

Vacant structures and/or vacant construction sites are first and foremost an obvious target for theft, trespassing and vandalism. Keep in mind that contractors and/or owners can be held liable for injuries sustained by children or adults who trespass or play on vacant construction sites. Moreover, vacant construction sites are susceptible to fire as they are often left unattended and don’t have operational fire alarms and/or fire suppression systems in place.  Also, firefighters on construction sites are twice as likely to be struck by debris or objects than firefighters in finished home fires. The insurance risks and liabilities associated with vacant construction sites and/or vacant property can also be extensive.

Vacant Property Insurance & Other Risk Solutions

To ensure that you are adequately protected, it is important to know the risks you face and work with a knowledgeable and experienced insurance broker like the the Advocates at ALIGNED . In addition to purchasing vacant property insurance coverage for the property and liability risks, there are numerous preventive strategies you can adopt to maintain vacant properties in a way that reduces risk and liability.

 

For A Risks of Vacant Property Overview And/Or More Information On Vacant Property Insurance Speak To An ALIGNED Insurance Advocate Or Connect With Us Today At www.alignedinsuranceinc.com 

ALIGNED Across Canada   100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.

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