Increase in number of insurers providing quotes will make it even easer for users to get good prices on vacant building insurance, reports VacantBuildingInsurance.org

Chicago, IL -- (SBWIRE) -- 10/24/2014 -- Today, VacantBuildingInsurance.com (VBI) announced the expansion of its vacant building insurance quote service. This service now provides quotes for this unique form of insurance from over five companies.

"This type of insurance is often used to cover commercial buildings that are between tenants or that have fallen out of use for other reasons. Even so, vacant buillding insurance isn't just for commercial structures. It can also be used to cover vacant houses, empty apartment units, and other such places. All of these structures pose unique risks to owners that occupied buildings do not. Vacant building insurance exists to cover against those risks," explained Sofia Rodriguez of VacantBuildingInsurance.org.

According to VBI's site, there are several unique factors surrounding vacant buildings. One is the definition of "vacant." While most people think a structure has to be totally unoccupied to earn this title, insurance companies have a different definition. To them, a building is vacant if it is less than 30 percent occupied. Most insurance companies will not insure such structures.

The risk profile of an empty or almost-empty building is quite a bit different from that of one that's fully or almost-fully occupied. Vandalism risk goes up, as does the chance of other criminal activity taking place there. Squatters are another threat. Other risks, such as fire, are worse at vacant buildings because there isn't anyone there to spot the emerging catastrophe before it's raging away. Even in lightly-occupied buildings, risks like this increase because there is so much space that isn't being actively monitored. Vacant buildings also suffer from storm damage and the overall ravages of time, and enough damage can accumulate to make them more hazardous. Because of these factors, most regular insurance companies want nothing to do with these structures. Getting them insured requires dealing with specialized insurers who are equipped to take on their unique risks.

"Finding companies that offer vacant building insurance is often the hardest part of the process of obtaining it," Rodriguez noted. "Other than that, getting this insurance is much like getting any other. It starts with obtaining quotes from a variety of competing companies. Our site makes both of these steps easy. Those seeking insurance only need to fill out a three-part form. The form asks about the building and any construction going on, so insurers can prepare a meaningful quote before they call. Just like with other insurance types, it makes things much easier to have company reps call the prospect instead of the other way around."

About VacantBuildingInsurance.org
VacantBuildingInsurance.org is an insurance quote site dedicated to helping people get quotes from providers of vacant building insurance. Its short, three-part form makes it easy to get meaningful quotes from these providers. The site also offers information about the special risks posed to vacant buildings, insurance company terminology, and related facts.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

VBI encourages vacant building insurance to defray costs from fire, theft, vandalism and weather

Chicago, IL -- (SBWIRE) -- 10/24/2014 -- According to recent industry study conducted by Liberty Mutual Property regarding vacant or idle buildings, fire is the most prominent danger, accounting for the most frequent and highest amount of loss. Over 66% of these fires were considered suspicious and an accounted for 75% of losses by dollar account. According to Sofia Rodriguez, spokesperson fro VacantBuildingInsurance.org, all vacant and idle buildings should be secured, preventing unauthorized access and, of course, there should be adequate vacant building insurance policies in place to cover any misfortune that may fall upon the building.

Says Rodriguez, "While fire is one of most costly dangers to occur to an unmanned property, theft and vandalism are most definitely the most common. If something is stolen, whether it's the property's copper piping, installed items like appliances, heaters or personal effects then it can be endorsed as theft and burglary. So what happens if somebody breaks into your building or home but is unable to steal anything? Then, this is when it can be covered as vandalism. This is when a thief breaks in and breaks the door, cabinet or anything in the property, but did not take anything with him."

Theft and vandalism accounts for approximately 27% of losses in the Liberty Mutual Property study, with more frequent losses due to inadequate security. Of those thefts reported, almost 70% reported involved theft of copper, electrical or plumbing materials. Rodriguez goes on to say, "Too many people think they don't need vacant building insurance for their unoccupied property.However, the fact is a property is at much greater risk than if it were occupied because it becomes target for squatters, vandals, thieves and a lot more. To help reduce risk, installing security cameras, lights and security alarms will help. But the best way is to get the right policy for your property in that way, you get to always feel at peace."

Rodriguez also reiterates that an unoccupied building is not necessarily an empty building. " It is also important for property owners to realize the insurance definition of what is a vacant property and the dictionary definition are different. Most, if not all insurance companies classify a building that is less than 30% occupied as being vacant. If you have a claim, your current carrier may deny it if they determine the building was less than 30% occupied. So, be sure to have your policy checked frequently." She goes on to say, "If you own a vacant property you must make sure you have the proper coverage to protect against property loss and personal injury of people on your property. Ultimately if you have the wrong coverage it very well may come back and haunt you."

To this end, Vacant Building Insurance is proud to announce they now offer a new platform to shop multiple insurance companies for their clients. Rodriguez confirms, saying, "We now can quote over five different companies in a matter of less than 30 minutes to get the best rate for our customers. Whether it be a vacant building, vacant home, or vacant warehouse, we shop multiple insurance carriers to find our clients the right product."

About VacantBuildingInsurance.org
Vacant Building Insurance (VBI)'s agents have up to 20 years experience writing vacant building insurance. Their goal is to earn a customer for life by gaining their customer's trust and confidence and ultimately insuring the building once it's occupied. The company represents a number of carriers that between them represent over 95% of the vacant buildings in America. VBI offers almost every vacant building program in the industry and can can shop for their customers in one stop.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm