Did you know that vacant properties pose a higher level of exposure to risks like fire, theft, vandalism, and water damage? This higher exposure is the main reason that insurance carriers charge higher premiums for vacant building coverage. Prior to the vacancy, additional security measures should be implemented to keep an eye on the property. Site inspection is a wonderful risk management tool to implement for vacant properties. These inspections should be conducted regularly, at least weekly and should include a review of temperature, fire protection systems, clogged drains or rain gutters or any other leaks.
