Is Your Building Insurance Policy In Jeopardy Due To Non-Occupied Space?

In Bill Gladstone’s excellent Real Estate Review (he is a top commercial SIOR broker in Harrisburg, Pennsylvania), author Jesse Harlan discusses potential exposure of commercial property owners if their building is vacant, and even if it is partially or fully leased but due to the pandemic not fully occupied…there still might be exposure to the owner, depending on how the policy is written.  In general, it appears buildings are a better risk if they are occupied with actual living bodies working within the building, regardless of how much of the building is leased out. Your insurance broker might be able to assist you in modifying the insurance occupancy requirements…so this was a good heads up to double check this! Thanks Bill and Jesse!