A vacant condo is a unit with no one living in it, often with little or no furniture inside. This is common while a unit is listed for sale, between renters, being renovated, or held by an estate after an owner has passed away. A standard condo or homeowners policy assumes someone is living in the unit day to day. Once it sits empty for a stretch of time, many of those policies reduce coverage or stop covering certain losses, which is where vacant condo insurance is meant to help.
How a condo association master policy fits in
Most condo buildings carry a master insurance policy through the homeowners association that covers shared areas and, often, the building structure itself. That master policy usually does not cover the individual unit owner the way a vacant condo policy does, especially once the unit is empty. Vacant condo insurance is meant to work alongside the association's master policy, not replace it, and can help cover liability and property exposure tied specifically to your unit while it sits vacant.
Common reasons a condo sits vacant
Owners request vacant condo insurance for a range of reasons, including:
- Listed for sale
- Between owners or between tenants
- Under renovation
- Inherited and awaiting a decision on its future use
General liability only, or a full property package
You can request general liability coverage on its own, which responds to third-party injury and property damage claims connected to the unit, such as a visitor getting hurt inside. If you also want the unit itself and any contents left inside covered, choose general liability plus a property package. With the property package, we ask a few more questions, including the estimated value to rebuild or repair the interior and the year the building was built.
What we ask on the quote form
Because the unit is empty, we ask a few extra questions on the quote form. We want to know why the condo is currently vacant and how long it has been empty. We also ask whether the unit is currently insured and about any claims in the last five years. Since no one lives in the unit, we ask for a separate mailing address so you can receive policy documents and billing. If a property manager oversees the unit while it is vacant, let us know and we will collect their full name and address so they can potentially be added to the policy as an additional insured.
Other vacant property coverage
If you own more than a condo unit, take a look at our pages on vacant home insurance, vacant land insurance, and vacant commercial building insurance. When you are ready, request a quote and someone will follow up to help.