Vacant Property Coverages

Vacant Property Coverages — Bailey Special Risks, Inc.

Bailey Special Risks, Inc. offers a focused vacant property program built for independent agents and brokers who need short-term Property and General Liability protection for unoccupied buildings. This program places coverage with United States Liability Insurance Group and is designed to simplify placement for vacant residential, commercial and mixed-use properties that will remain unoccupied for defined terms or are undergoing minor renovation.

Overview of the Program

The Vacant Property Coverages program provides standalone Property and General Liability insurance tailored for vacant risks. Policies can be written for 3, 6, 9 or 12 month terms, with flexibility to renew as needed. There is no restriction on the length of vacancy — the program accommodates long-term vacancy as well as short-term transitions. Coverage can also be offered where the insured has limited on-site work or minor renovations underway.

Ideal Accounts and Appetite

This program is a fit when you need a straightforward market for:

• Vacant single-family homes, vacant condos and small multi-family buildings
• Vacant retail, office or light industrial units awaiting tenancy
• Properties undergoing limited or cosmetic renovation (no major structural or contractor-driven gutting)
• Owners preparing a property for sale or transferring ownership

Typical risks that place well are properties with reasonable security measures (locks, boarded windows where appropriate, periodic inspections) and no recent history of significant property damage or arson-related losses.

Coverage Highlights and Advantages

• Property and General Liability packaged for vacant buildings — designed to close coverage gaps when standard homeowners or commercial policies are not available.
• Flexible term options: 3, 6, 9 or 12 months to match the insured’s timeline.
• No restriction on total length of vacancy, allowing continuity for long-term vacant holdings.
• Accepts risks with minor renovation activity; helps migrate exposures while work is limited and supervised.
• Competitive entry premiums — premiums advertised to start as low as $1,000 plus fee and tax, depending on exposure and state filing.

Underwriting Notes and Minimums

Underwriters will review recent occupancy history, loss run information, security and maintenance plans, and any remodeling scope. Declinations or cancellations for arson, vandalism or major water losses may affect eligibility. Because underwriting is driven by property condition and loss history, complete submission details improve turnaround time.

Premiums vary by state, occupancy type, construction and limits. As noted in program materials, premiums can start as low as $1,000 plus fee and tax; actual terms and minimums will be quoted on submission.

Territories and Availability

The program is available through Bailey Special Risks’ wholesale platform in the following states:

AL, AZ, AR, CA, CO, CT, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, MD, MA, MI, MS, MO, MT, NV, NJ, NY, NC, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WV, WI, WY.

Why Place Vacant Property with Bailey Special Risks, Inc.

• Wholesale broker expertise that matches vacant exposures with a dedicated carrier (United States Liability Insurance Group).
• Fast quotes for short-term needs — ideal when a client needs immediate protection while a property is between tenancies or under minor renovation.
• Clear appetite and flexible terms that help agents move business that might otherwise fall into coverage gaps.

Example Scenarios

• You have a client who owns a three-unit building that has been vacated for tenant turnover and needs protection for 6 months while new tenants are secured.
• A homeowner is renovating a vacant townhouse (cosmetic upgrades only) and requires property and liability coverage during the work period; this program can provide a short-term policy for that phase.

Frequently Asked Questions

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