Vacant property
Cover for buildings that are empty, between uses, or being worked on
Most standard markets step back when a building is empty. Total Risk Managers writes vacant property for licensed brokers across Canada — newly vacant homes, empty commercial and industrial space, vacant land, and buildings undergoing minor renovation.
Five classes
Residential, commercial, industrial, vacant land, and buildings under minor renovation
No age limit
No restriction on the age of the building
Broker only
Submissions reach us through a licensed broker
What we can write
Coverage highlights
These are the main features available on a vacant property placement. What applies to any one risk depends on the policy issued and the risk itself.
Broad form coverage
Written on a broad form basis rather than named perils only.
Replacement cost
Replacement cost settlement is available on qualifying risks.
Sewer backup
Sewer backup coverage can be included.
Vandalism
Vandalism cover is available — one of the exposures that most often makes an empty building hard to place.
No age restriction
There is no restriction on the age of the building.
On-premises pollution
On-premises pollution cover, property only, is available for qualifying risks.
Appetite
What we look at
Vacant property covers a wide range of situations. These are the classes we write:
- Newly vacant
- Residential
- Commercial / Industrial
- Vacant land and premises liability
- Buildings undergoing minor renovation
Before you send
What to include in a vacant property submission
Vacant risks turn on detail. A submission that answers these five points upfront can be quoted without us coming back to ask — which is usually the difference between a same-day answer and a week of email.
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The building
Full address, construction, year built, roof and heating type, number of storeys, and the values at risk.
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How long it has been empty, and why
The date it became empty and the reason — sale pending, estate, tenant moved out, redevelopment, seasonal. The reason matters as much as the length of time.
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What happens next
Whether it will be sold, tenanted, demolished or renovated, and the expected timeline. If work is planned, tell us the scope.
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Security and upkeep
How the building is secured, whether utilities are on or shut off, whether heat is maintained, whether the water is turned off and the system drained, and any monitoring or alarm in place.
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Who is checking on it
Who attends the property, how often, and whether those visits are recorded. Regular documented inspection is central to how an empty building is underwritten.
Common questions
Questions brokers ask about vacant property
What is the difference between a vacant and an unoccupied building?
The two words are often used as if they mean the same thing, but insurers treat them differently. A building is usually described as unoccupied when nobody is living or working in it but the contents are still there and someone intends to return. It is usually described as vacant when both the people and the contents have gone.
The distinction matters because the wording of the issued policy decides which definition applies and what conditions come with it.
Why do standard insurers step back from empty buildings?
An empty building has nobody in it to notice a problem early. A burst pipe, a small fire or a break-in can run for days or weeks before anyone finds it, so the same event costs far more than it would in an occupied building. Empty buildings also attract vandalism and unauthorised entry.
That is why vacant risks tend to move to a specialty market, and why cover usually comes with conditions about security and inspection.
Can a building be covered while it is being renovated?
Minor renovation work is within our appetite. Larger structural projects are usually a different class of business and are looked at separately.
Where the line falls depends on the scope of work, so send the details with the submission and we will tell you.
Does it matter how long the building has been empty?
Yes. How long a building has been standing empty, and why, are among the first things an underwriter looks at. A house empty for three weeks while a sale closes is a different risk from a commercial unit empty for two years.
Include both the date and the reason in the submission.
Who can approach Total Risk Managers about a vacant risk?
Licensed insurance brokers. Total Risk Managers is a Managing General Agent, which means we work through brokers rather than dealing with the public. If you own a building that is empty and you are looking for cover, speak to a licensed broker, who can then approach us.
Have a vacant risk to place?
Email the details to submissions@totalriskmanagers.com and we will come back to you. Submissions are accepted from licensed insurance brokers.
This page describes coverage in general terms. Cover, limits and conditions vary by policy and by risk. Nothing here changes or replaces the wording of an issued policy. Coverage is arranged through a licensed insurance broker. If you are a broker, contact us. If you are not, please speak to your broker.