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Public Adjusters Are Crucial In Settlement of Vacant Property Damage Insurance Claims

View of homes boarded up

Commercial and Residential properties may remain vacant for a variety of reasons. Either a real estate investor is waiting to reposition their asset in order to add value, the property may be in the process of renovation, the property owner is waiting for the perfect tenant to occupy a space, or perhaps the property is being marketed for rent or sale. No matter the reason, vacant properties are at a high probability of suffering property damage.

Some causes for property damage of vacant buildings include burst pipes, illegal squatters, vandalism, theft of copper piping, fire and water damage as well as weather-related perils. To make matters worse, by the time damage is discovered, full replacement of building materials may be required versus just a minor repair. Combined, these elements spell a property insurance claim nightmare.

Unoccupied? Vacant? What’s the Difference?

Very often the point of contention for insurance companies is the discrepancy of whether the property is vacant or unoccupied, and not knowing or being able to prove the difference may cost you crucial insurance funds.

UNOCCUPIED: The property has been left as if the owners will return at any time. The property contains furniture and functional appliances.

VACANT: The property is entirely empty without any business or personal property inside.

So what happens if your vacant property suffers property damage? Are you covered? How will you prove your claim? Vacant property insurance claims can become extremely complex very quickly, especially if you’re not able to market or reposition your residential or commercial property in order to keep your investment strategy on track. Having a public insurance adjuster such as United Public Adjusters & Appraisers Inc. is crucial to ensure that the damage is assessed correctly in order to attain crucial funds to rebuild. Our expertise in policy language interpretation, construction knowledge, and negotiation skills allow us to fiercely advocate on your behalf to substantiate the claim.

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