9 Ways to Protect Vacant Business Properties
July 18, 2024Property owners with vacant buildings have extra risks and considerations when it comes to protecting their properties. Between maintenance concerns, potential criminal activity, storm damage, and other hazards, there are a lot of potential risks to cover. However, there are several things you can do to mitigate these risks as well as insurance options to help provide coverage in the event of damage or loss. Here are a few ways to protect vacant business properties:
1. Implement Security Measures
One of the best ways to protect vacant business properties is to implement security measures. Keeping entry points locked and installing alarm systems can go a long way in making a property a less desirable target. Alarm systems can also be used on windows in addition to doors for an extra layer of security.
Motion-activated lighting can deter attempts at unlawful entry. Additionally, the presence of security cameras acts as a deterrent. They also often allow for remote monitoring and alerts, which can make it easy to check in on vacant properties. Video surveillance footage is also invaluable should an incident occur and can assist in any necessary reports or investigations.
If there is any outdoor equipment, you may want to consider implementing additional safeguards. Protective cages can help keep outdoor equipment safe from pests, people, and potential damage.
From an insurance standpoint, these are also measures that have been shown to reduce risk. As such, they may even contribute to lowering your premium in addition to lowering overall potential risks to your property.
2. Clean Up the Premises
Especially in the case of vacant business properties, it’s important to clean up the premises; both inside and out. Combustible items are fire hazards and, left unattended, pose serious risks to vacant properties.
Clearing out trash and unnecessary items helps reduce the risk of pests or infestations and can also help reduce the risk of fire and more extensive damage. Regularly clearing gutters of debris helps to prevent blockages and avoid water damage.
3. Keep Up With Maintenance
Keeping up with maintenance, including landscaping, keeps vacant properties from falling into disrepair. It also ensures protective systems are working correctly, including fire alarms, fire extinguishers, sprinkler systems, alarms, and more.
In addition to preventing issues, maintaining the property also provides visual cues that it is not abandoned. Regular maintenance often means a regular presence of people and evidence of visits, if not occupation. This helps make properties less desirable targets for unlawful activity and mischief even if they are vacant.
4. Winterize the Property
Cold temperatures and winter storms can cause serious damage to properties. Just as you would winterize and protect your home for winter, you also want to take measures to protect vacant business properties.
Winterizing the property before temperatures start dropping can help protect it, especially if it will be vacant. Turning off the water and wrapping and insulating pipes can keep them from freezing and bursting.
This is a good idea even if you have turned the water off as it will help keep your pipes protected even if there is lingering moisture. Throughout the winter, it’s also a good idea to inspect the roof and gutter systems to monitor for excess snow accumulation on them and ice dams along the edges.
5. Install Environmental Monitoring Sensors
Water damage is a risk for any building and can have serious consequences for vacant buildings. Burst pipes, leaks, or flooding can go unnoticed and when left unchecked, water damage can lead to rot, mold, structural issues, and more.
In addition to regular maintenance and keeping water to unused systems turned off, you can also install environmental monitoring systems. If you’re planning on a comprehensive security monitoring system, these sensors are sometimes included along with alarms. If not, you can install water detection sensors to identify and alert when water is detected in areas it should not be in.
There is an additional risk of fire should outlets, wires, or other electrical devices come into contact with water. This is on top of the fire risk vacant properties already face. Built-in protections, like water-filled fire sprinkler systems, can work to contain a fire until emergency personnel can respond.
6. Consider Pest Control Services
Damage from pests and infestations can be a concern for vacant properties. Removing trash and keeping the property maintained can cut down on the risk of pests. Depending on the property, the surrounding premises, and how often you can inspect on your own, it may make sense to hire professional pest control services to help preserve your property and prevent issues.
7. Conduct Regular Inspections
Stopping by in person to conduct regular inspections on vacant properties can help protect them. Not only can you monitor the current state of the property and ensure there are no current or emerging issues, but regular visits can also make the building look occupied. At the very least, frequent visits make it clear that the property is not abandoned even though it may be vacant, which can make it a less desirable target.
8. Collaborate With Local Fire and Police
Vacant buildings can be attractive targets for criminal activity and are also at risk of sustaining damage in emergency situations. Collaborating with local law enforcement and fire agencies can help add another layer of protection for vacant properties.
At the very least, notifying these local agencies about the vacant status of buildings can be useful information for when they are doing regular patrols and in case an emergency response is necessary.
9. Properly Insure the Property
In addition to maintenance and monitoring, properly insuring the property is one of the ways to protect it, preserve the integrity of your assets, and protect your investment. At the very least, proper insurance coverage ensures you are able to repair damage or replace assets should something occur.
Vacant properties have more potential risks because of their vacant status and this can also pose more risk for insurers. It’s important for property owners to make sure their insurance company knows the unoccupied status of the property.
Most property insurance policies contain provisions that limit certain coverage perils if a building is vacant longer than a described period of time. If you are exploring commercial property insurance proposals for coverage, it’s important any coverage quoted is done so in the context of vacant properties.
Similar to insuring seasonal or recreational properties, vacant business properties will have different kinds of liability exposures that may fall outside of some standard policies. Depending on the property and its unique exposures, you may need to explore additional lines of coverage or specific endorsements to get the coverage you need.
Insure Your Business Properties With Ruhl Insurance
These are a few ways to protect vacant business properties. Every property is unique and will have unique risks and coverage needs. Having a conversation with an experienced insurance agent can help you avoid coverage gaps, minimize liabilities, and get the insurance you need to protect your business properties. If you have questions about your insurance coverage, contact Ruhl Insurance at 717-665-2283 or 800-537-6880.
Disclaimer: Information and claims presented in this content are meant for informative, illustrative purposes and should not be considered legally binding.