Vacant properties are especially vulnerable to risks, but LRO insurance can help mitigate those challenges. Here’s how to manage these risks:
- Purchase Vacancy Coverage
Ensure your LRO policy includes protections for vandalism, fire, or weather-related damages during periods of vacancy. - Secure the Property
Install security cameras, alarms, and reinforced locks to deter break-ins and theft. - Perform Regular Inspections
Conduct frequent checks to identify issues like water damage, mold, or structural problems early. - Maintain Utilities
Keep minimal utilities running to avoid issues like frozen pipes or electrical failures. - Communicate with Insurers
Notify your insurer when a property becomes vacant to adjust your policy and avoid claim denials.
Proper risk management ensures vacant properties remain protected and insurable.
