This applies to residential property, too. You may find it difficult to get vacancy coverage for a gap while you are selling a house you no longer live in. Insurance companies seem nervous right now.
COVID-19 Shutdown? Beware of the Vacancy Provision in your Property Policy!
Saxe Doernberger & Vita, P.C.
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What do these vacancy provisions say? In each of these commercial property policies, if the insured building is “vacant” for more than 60 days before a loss occurs, there is no coverage if the loss is caused by: vandalism, sprinkler leakage (unless the insured protected the system against freezing), building glass breakage, water damage, theft, or attempted theft. For all other covered losses, the insurer will reduce the insured’s recovery under the policy by 15% if the vacancy provision applies...
Saxe Doernberger & Vita, P.C.
...
What do these vacancy provisions say? In each of these commercial property policies, if the insured building is “vacant” for more than 60 days before a loss occurs, there is no coverage if the loss is caused by: vandalism, sprinkler leakage (unless the insured protected the system against freezing), building glass breakage, water damage, theft, or attempted theft. For all other covered losses, the insurer will reduce the insured’s recovery under the policy by 15% if the vacancy provision applies...
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