Void property: The hidden pitfalls of arranging insurance cover and adhering to terms and conditions

Abstract

When a property becomes void, all interested parties and insurance brokers must work together to adhere to the additional conditions that are likely be imposed by insurers. There are many pitfalls to be avoided to ensure a full indemnity is obtained from the policy should disaster strike. Failure to identify and implement vacant property insurance conditions can result in uninsured losses adding further to the burden of costs a void property already had on a portfolio.