Vacant Property Insurance in Savannah, GA
Protecting your investments is crucial, especially when your properties may be unoccupied. Vacant residential or commercial properties may involve significant risk levels and require owners to retain robust insurance solutions. Whether you’re a homeowner, real estate investor or landlord, vacant property insurance can help safeguard your assets during periods of inoccupancy.
Why Insure a Vacant Property?
Some landlords and property owners may make the mistake of thinking that empty lots or buildings are inherently less risky than those occupied by tenants. While this might be the case in some regards, there are other increased risks for which you must account.
Without regular activity, these properties may be more susceptible to various incidents and accidents. Additionally, a lack of occupancy may adversely impact your ability to secure and supervise the premises.
What Does This Type of Insurance Cover?
Standard property insurance policies often exclude or limit coverage for unoccupied buildings, making specialized vacant property insurance essential. These policies can be designed to address the specific needs of unoccupied properties and may provide the following:
- Financial protection against fire, lightning, hail and other weather events
- Vandalism and theft coverage
- Liability protection in case someone is injured on your property, even without permission
At R.M. Bush & Company Inc, we can work with you to tailor coverage based on your property’s location, value and how long it will remain vacant.
Who Needs This Coverage?
Anyone owning or otherwise responsible for vacant properties should prioritize this type of coverage. Specifically, if the falling circumstances apply to you, you should seek out a policy:
- Owning a home or commercial building that is currently unoccupied
- Planning to, or in the process of, selling, renovating or inheriting a property
- Managing rental properties between tenants
- Holding investment properties awaiting development or occupancy
How R.M. Bush & Company Inc Can Help
If you own vacant properties in Savannah and its surrounding communities, the R.M. Bush & Company Inc team is ready to help you assess and address your coverage needs.
Contact us today to get started.