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Robert W. Schmidt And Company LLC
Special Risk Brokers

VACANT BUILDING INSURANCE
Filling Your Empty Location with Peace of Mind

Interior of Empty Warehouse Builing

From Vacant Buildings to Vacant Leased Space, We Offer Protection for Your Investment

Owning real estate is a great investment for many people in today's world, but it can also be a very costly asset if not adequately insured and maintained. As the owner of a vacant building, it might not seem like you need to purchase insurance. What's the risk, really? However, any number of things can happen to a vacant property. Fire losses and slip and fall injuries, for example, could lead to a very expensive liability lawsuit. Addressing these concerns with a vacant building insurance policy is essential to the needs of today's property owner.

Coverage for Vacant Buildings

Why Coverage is Necessary

  • An electrical fire started in the basement of a vacant building that was purchased eight years prior. The fire started at the electrical panel and melted some wires, duct work and floor joists. The resulting damage was over $100,000.
  • Cold weather during the winter months resulted in a broken pipe and consequently caused water damage to the interior of the vacant building. Damages totaled over $16,000.
  • Contractors on a vacant building property were handling renovations. In the process of the project, a torch created sparks that ultimately resulted in a fire. The resulting smoke and fire damage totaled approximately $30,000.
  • A pedestrian fell on a sidewalk that was not plowed and cleared of snow and ice during the cold months. The claimant suffered injuries, and the loss resulted in $50,000.

Eligible Risks

  • Both residential and commercial locations are acceptable
  • Ability to accommodate vacant buildings, partially vacant buildings, vacant condo units and vacant leased space with and without renovations
  • Policy terms of 3, 6 and 12 months are available
  • Contents coverage available
  • No restriction on length of vacancy
  • Limits up to $25,000,000 per location/$100,000,000 TIV
  • Can consider structural renovations

Additional Advantages

  • Low minimum premiums
  • Fast service/quick quote turnaround
  • A or better rating by A.M. Best
  • General Liability, Property and Excess Liability coverages available
  • Admitted & Non-Admitted Options Available

Check out our website, give us a call or send an e-mail request for an application today!

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OUR OFFICE HAS MOVED
Robert W. Schmidt And Company LLC

155 S. Executive Drive, Suite 204
Brookfield, WI 53005
Phone: 800-361-4011
RWSins@RobertWSchmidtCo.com

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