Vacant Building Insurance in Colorado

A building is considered vacant when less than a third of its space is used for a long time. This can happen for different reasons, such as unsafe conditions that require repairs or upgrades, a health crisis (like the COVID-19 pandemic) that forces workers to stay away from the building or work elsewhere, or a change in ownership or function of the building that makes it empty until it is prepared for its new role or new people.

In Colorado, vacant building insurance is important to consider if you own a commercial or residential building that has been empty and unoccupied for longer than 30 days. Vacant buildings are at higher risk of property damage due to burglaries, vandalism and natural disasters. Even if your building is fully secured and monitored with alarms, cameras, fences or other security measures, a vacant building is still more vulnerable than one that is occupied and regularly monitored.

At 3R Insurance Agency, we understand the unique risks associated with having a vacant building in Colorado. We are an independent insurance agency that specializes in providing vacant buildings insurance tailored to the specific needs of Colorado businesses. 

Our team of experienced agents will work closely with you to find a policy that provides the best coverage at an affordable rate. Here's why Colorado property owners trust 3R Insurance Agency for their vacant building insurance needs:

• Experienced Agents: Our agents have years of experience in the Colorado insurance market, and are ready to help you find the best coverage for your specific property.
• Flexible Policies: We offer a range of flexible policies that can be tailored to meet your specific needs.
• Cost-Effective Solutions: We work hard to find you the best possible rate for your policy, so you can save money while still getting the coverage you need.
• Rapid Claims Processing: Our team works quickly to process any claims you may have, ensuring that you get the compensation you deserve in a timely manner.
• Comprehensive Coverage: We offer a range of coverages, including fire and smoke damage, theft, civil disturbances, natural disasters and more.
• Highly Rated Carrier: We represent highly rated carriers like AIG and Liberty Mutual that provide reliable coverage for your property.
• Dedicated Support: Our team is available to answer any questions or concerns you may have about your policy so that you can make informed decisions.

Whether you are looking for vacant building insurance in Colorado or want to learn more about coverage, our team at 3R Insurance Agency is here to help.

Contact us today to get started with a free quote.

As mentioned above, any property owner who has a building that has been empty and unoccupied for more than 30 days in Colorado should consider purchasing vacant building insurance. This includes the following groups:

• Property management companies
• Homeowners with vacation properties
• Businesses that are temporarily closed
• Building owners who are in the process of renting or selling the property
• Construction companies that have recently completed project
• Landlords with vacant units
• Property owners who are undergoing renovations
• Banks or lenders with foreclosed properties
• Hotels, motels and resorts with vacancy periods between seasons
• Investors who have purchased property but have yet to fill or lease it
• Manufacturers with temporary slowdowns
• Retailers that are closed for extended periods
• Restaurants that are shut down for remodeling
• Owners of vacant land
• Nonprofits or charities with empty facilities and buildings

If you belong to any of the above groups, 3R Insurance Agency can help you find the best vacant building insurance coverage for your property in Colorado. Contact us today for a free quote.

Vacant property insurance offers a range of coverage options designed specifically to protect your assets if your building is empty and unoccupied. Here are 10 common forms of coverage offered by vacant property insurance:

1. Fire and Smoke Damage: Coverage for any structural damage caused by fires or smoke that occur while the building is unoccupied.
2. Theft: Coverage for any theft or vandalism that occurs while the building is empty and unprotected.
3. Civil Disturbance: Coverage for physical damage to property caused by riots, vandalism or malicious mischief.
4. Natural Disasters: Coverage for losses resulting from natural disasters, including floods, hurricanes and earthquakes.
5. Structural Deterioration: Coverage for any deterioration to the building structure due to lack of maintenance or repairs while it is unoccupied.
6. Business Interruption: Coverage for any lost income that results from temporary closures due to a covered loss.
7. Tenant Lease Violations: Coverage for any claims resulting from tenant lease violations while your building is empty and unoccupied.
8. Liability Coverage: Protection against lawsuits or other legal claims that may arise due to injury or damage sustained on the property during its vacancy period.
9. Builder's Risk: Coverage for any physical loss or damage to the building while it is under construction.
10. Contents Coverage: Protection for any contents inside the building that may be damaged or destroyed due to a covered loss, such as furniture, equipment, and machinery.

A custom or comprehensive vacant building policy from 3R Insurance Agency can help you get the coverage you need for your property in Colorado. Contact us today for more information and a free quote.

Although many insurers offer comprehensive vacant building insurance policies, there are still certain exclusions that you should be aware of. These include excluded perils such as:

• Damages caused by pests or rodents
• War and nuclear risks
• Pollution losses
• Mechanical breakdowns
• Contractual liability
• Intentional acts of violence or vandalism
• Natural wear and tear
• Damage caused by mold, fungi, bacteria, viruses or other pathogens
• Losses due to government action or civil unrest
• Losses arising from lack of maintenance or failure to repair a pre-existing condition

It’s important to understand what is and isn’t covered under your vacant building insurance policy before you purchase it. 3R Insurance Agency has experienced agents who can help you find the best coverage for your property in Colorado. Contact us today for a free quote.

Essentially, the amount of vacant property insurance you should buy depends on a variety of factors, including:

• The size and value of your building - you might want to insure it for the full replacement cost.
• Your risk exposures - if you’re located in an area prone to natural disasters, or your building is located near a high-crime area, you may want to increase your coverage limits.
• The type of property you own - some properties require special coverage, such as one for a high-rise building or an industrial facility.
• The amount of coverage you need to protect your business - if you own a frequently rented property, you may want to increase your liability limits.
• Your budget - how much can you afford to pay for vacant property insurance?
• The type of policy you choose - is it a single-policy or multi-policy product?
• Your location - some cities have higher insurance costs than others and you may need to adjust your coverage limits accordingly.

The best way to determine how much vacant property insurance is enough in Colorado is to speak with an experienced agent at 3R Insurance Agency. We can review your specific risks and provide you with a custom plan that meets your needs and budget. Contact us today for more information and a free quote.

The cost of vacant building insurance in Colorado can vary from company to company and is largely dependent on the type of coverage you need, the size of your property, and other factors. Generally speaking, however, you can expect to pay between $200-500 per month for a basic policy.



The cost could go up or down depending on the coverage limits and other details, but your agent at 3R Insurance Agency can help you find a policy that fits your budget and needs. Contact us today for a free quote.

• Shop around - get quotes from multiple insurers to find the best policy for your needs
• Choose a higher deductible - this will lower your premiums but make sure you can cover any out-of-pocket expenses if needed
• Bundle policies - combine vacant building insurance with other types of policies to get a better rate
• Review your coverage - make sure you have enough coverage to protect your property in case of an emergency
• Look for discounts - some insurers offer discounts for properties located in low-risk areas or those with high-security systems
• Monitor your credit score - insurers typically take credit score into account when calculating premiums
• Update your policy regularly - if you make any changes to your building, such as adding security systems or upgrading the roof, be sure to update your policy accordingly.
  

At 3R Insurance Agency, we understand that finding the right vacant building insurance policy can be challenging. That’s why our team of experienced agents is here to help you compare policies and find the best coverage for your property in Colorado. Contact us today for more information and a free quote.