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Copyright 2010-2012 Michael C Konopelski, Common Cents Insurance Tips may not be copied or used without permission of the author. All rights reserved.
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485 Mansfield Ave. Pittsburgh, PA 15205 Phone: 412-922-8222 Fax: 412-922-1588 
Business Hours: M-F 8:30 am - 4:30 pm EST info@hurstweiss.com 
Hurst Weiss Insurance & Investments Common Cents
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JustinTyme Productions
Copyright 2010-2012 Michael C Konopelski, Common Cents Insurance Tips may not be copied or used without permission of the author. All rights reserved.
The Vacancy Clause:  
     Insurance companies utilize vacancy clauses to limit coverage when a property is vacant because there is a greater chance that both a claim will occur as well as the severity of the claim increase. A vacant home or building is not monitored like a continually occupied structure so that if a pipe bursts, this issue could remain undetected for days or weeks resulting in widespread damage vs. a burst pipe caught immediately or within hours would in many instances lessen the scope of the damage.      Even though it is the same house or building insured under the policy as when occupied, the exposure viewed by the insurance company, has increased dramatically. The vacancy clause voids coverage for vandalism, building glass breakage, water damage, theft or attempted theft and sprinkler damage claims. Further, most policies will decrease the amount of a claim payment for other coverage such as fire and windstorm by 15% after the deductible is satisfied.       A recent trend in claims related to vacant properties has involved the theft of copper plumbing pipes and air conditioning units, as many dwellings remain vacant for an extended period of time due the slow real estate market. Please know there are insurance products that are specifically designed for the vacant and unoccupied structures that appropriately address coverage needs, call the Agency prior to vacating your property to determine which type of policy is appropriate for your situation.       It is important to note that the definition of vacancy varies for property policies. For example, a commercial building can be considered vacant if less than 31% of the building is not rented or used to conduct customary operations. It is best to check your policy or call your agent for the definition that applies to your policy As always, if you have questions or feel we can be of service, call Hurst-Weiss Insurance at 412-922-8222.   Hurst-Weiss  “Your One-Stop Insurance & Investment Services Firm.”
Copyright 2010-2015 Michael C Konopelski, Common Cents Insurance Tips may not be copied or used without permission of the author. All rights reserved.
twitter Facebook Linkedin Hurst Weiss Insurance & Investments
485 Mansfield Ave. Pittsburgh, PA 15205 Phone: 412-922-8222 Fax: 412-922-1588
Business Hours: M-F 8:30 am - 4:30 pm EST info@hurstweiss.com 
The Vacancy Clause:  
     Insurance companies utilize vacancy clauses to limit coverage when a property is vacant because there is a greater chance that both a claim will occur as well as the severity of the claim increase. A vacant home or building is not monitored like a continually occupied structure so that if a pipe bursts, this issue could remain undetected for days or weeks resulting in widespread damage vs. a burst pipe caught immediately or within hours would in many instances lessen the scope of the damage.      Even though it is the same house or building insured under the policy as when occupied, the exposure viewed by the insurance company, has increased dramatically. The vacancy clause voids coverage for vandalism, building glass breakage, water damage, theft or attempted theft and sprinkler damage claims. Further, most policies will decrease the amount of a claim payment for other coverage such as fire and windstorm by 15% after the deductible is satisfied.       A recent trend in claims related to vacant properties has involved the theft of copper plumbing pipes and air conditioning units, as many dwellings remain vacant for an extended period of time due the slow real estate market. Please know there are insurance products that are specifically designed for the vacant and unoccupied structures that appropriately address coverage needs, call the Agency prior to vacating your property to determine which type of policy is appropriate for your situation.       It is important to note that the definition of vacancy varies for property policies. For example, a commercial building can be considered vacant if less than 31% of the building is not rented or used to conduct customary operations. It is best to check your policy or call your agent for the definition that applies to your policy As always, if you have questions or feel we can be of service, call Hurst-Weiss Insurance at 412-922-8222.   Hurst-Weiss  “Your One-Stop Insurance & Investment Services Firm.”
Copyright 2010-2015 Michael C Konopelski, Common Cents Insurance Tips may not be copied or used without permission of the author. All rights reserved.
  |  Home  |   About Hurst-Weiss  |   Client Services  |   Investment Services  |   Request A Quote  |   Reports  |   Contact Us  |   Common Cent$  |   Mike's Insight  |  

Every effort has been made to insure all products are updated with current information. However features, specifications change. Hurst-Weiss Insurance & Investment reserves the right to change these without incurring any liability. Content Jan. 2012 Hurst-Weiss All rights reserved

JustinTyme Productions
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485 Mansfield Ave. Pittsburgh, PA 15205 Phone: 412-922-8222 Fax: 412-922-1588
Business Hours: M-F 8:30 am - 4:30 pm EST info@hurstweiss.com 
Hurst Weiss Insurance & Investments
The Vacancy Clause:  
     Insurance companies utilize vacancy clauses to limit coverage when a property is vacant because there is a greater chance that both a claim will occur as well as the severity of the claim increase. A vacant home or building is not monitored like a continually occupied structure so that if a pipe bursts, this issue could remain undetected for days or weeks resulting in widespread damage vs. a burst pipe caught immediately or within hours would in many instances lessen the scope of the damage.      Even though it is the same house or building insured under the policy as when occupied, the exposure viewed by the insurance company, has increased dramatically. The vacancy clause voids coverage for vandalism, building glass breakage, water damage, theft or attempted theft and sprinkler damage claims. Further, most policies will decrease the amount of a claim payment for other coverage such as fire and windstorm by 15% after the deductible is satisfied.       A recent trend in claims related to vacant properties has involved the theft of copper plumbing pipes and air conditioning units, as many dwellings remain vacant for an extended period of time due the slow real estate market. Please know there are insurance products that are specifically designed for the vacant and unoccupied structures that appropriately address coverage needs, call the Agency prior to vacating your property to determine which type of policy is appropriate for your situation.       It is important to note that the definition of vacancy varies for property policies. For example, a commercial building can be considered vacant if less than 31% of the building is not rented or used to conduct customary operations. It is best to check your policy or call your agent for the definition that applies to your policy As always, if you have questions or feel we can be of service, call Hurst-Weiss Insurance at 412-922-8222.   Hurst-Weiss  “Your One-Stop Insurance & Investment Services Firm.”
Copyright 2010-2015 Michael C Konopelski, Common Cents Insurance Tips may not be copied or used without permission of the author. All rights reserved.
  |  Home  |   About Hurst-Weiss  |   Client Services  |   Investment Services  |   Request A Quote  |   Reports  |   Contact Us  |   Common Cent$  |   Mike's Insight  |  

Every effort has been made to insure all products are updated with current information. However features, specifications change. Hurst-Weiss Insurance & Investment reserves the right to change these without incurring any liability. Content Jan. 2012 Hurst-Weiss All rights reserved

JustinTyme Productions
Menu