Do you know how insurance works with vacant buildings?
Posted on June 1, 2016
Empty buildings are at risk to illegal occupation, criminal damage and fire and theft which usually attracts high insurance premiums, and rarely offers more than FLEA (fire, lighting, explosion and aircraft) cover. This is provided by several insurance companies, and may include expensive security measures such as boarding and CCTV. However, these measures don’t cover you for, or prevent squatting and damages to the building.
Insurance companies appreciate that buildings with property guardians in place are more secure than ones using traditional methods, and Global Guardians are now pleased to offer clients reduced all-risk void building insurance, which other insurances are unable to match.
Global Guardians are able to offer you All Risks Covered (ARC) insurance through our own insurers. This is specifically for the guardian solution and the occupation of an empty building. Our protection by occupation service is accredited by the British Standard Industry BS-8584:2015 – Vacant Property Protection Services – Code of Practice.
We can protect and insure any type of building. We provide Health and Safety and Fire Risk Assessments for vacant buildings. We also take on full building management and inspections free of charge.
It’s as easy as simply removing a building from an insurance portfolio and adding it to property guardianship, allowing you to save a substantial amount of money and be more comprehensively covered.
Our All Risks Covered (ARC) service is provided by a specialist vacant property insurance company to provide an all-risks policy for your empty building which other insurances cannot provide. The benefits of All Risks Covered (ARC):
- Reduced insurance premiums through property guardians
- Full risk vacant property insurance cover
- Best practice for empty building protection
- Suitable for any vacant property
Your current insurance company is just a supplier which you are able to change per property. Property Guardians offer a viable means to minimise void building risk and has consistently resulted in significantly lower building insurance for clients.
If you have any questions regarding Insurance services for vacant buildings, please don’t hesitate to contact myself and our very experienced team who will be happy to answer and help you manage your void properties safely today.