Vacant Commercial Buildings

Kraft Lake can provide property and general liability coverage for vacant commercial buildings. We have access to several companies for this class, and we can develop a policy that provides the coverages your customers want for vacant commercial risks.

Description

The vacant commercial building policy covers buildings that are vacant and in good condition, up for sale, lease or rent. According to the Insurance Service Office Inc. 1999 Businessowners Special Property Coverage Form (BP 00 02 12 99), a building is vacant when, “70% or more of its total square footage: (i) is not rented; or (ii) is not used to conduct customary operations.”

Target Markets

All classes of vacant buildings are eligible, including:

• Retail
• Wholesale
• Manufacturing
• Office
• Habitational

Features

• Buildings with values up to $3 million
• Policies available in 3, 6, 9 or 12-month terms with options for extension or full renewal
• Monoline or Package coverage is available
• Additional insureds can be listed
• System breakdown coverage is available
• Business Income coverage is available for buildings that are partially occupied
• Terrorism coverage is available
• Renovations: 50% of building value up to $400,000

Submission Requirements

• Completed signed Acord application (Kraft Lake will provide)
• Completed signed supplemental application (Kraft Lake will provide)
• 3-year loss history
• Photos

Contact Information

Toll Free Number: 1-800-339-3114 Fax Number: 800-561-4582 E-mail: info@kraftlake.com Hours of Operation: Mon-Fri: 8 a.m. to 5 p.m. Eastern time Mailing Address: P.O. Box 3278, Grand Rapids, MI  49501