Builders/ Risk Vacant Policy Question
had insurance for a vacant rental property in force when the ac unit was stolen from the back outside of the property even though we had a cage on it, i called up to file a claim and they said they do not cover that but only vandalism or damage to the property itself? does this make any sense to you i thought a policy like this would cover that?
The same thing happened to me recently. Stolen outside AC unit,filed police report, submitted loss data to insurance company, coverage was denied.
I finally received a written report from my Lloyds insurance carrier and they explained many other kinds of loss (fire, flood, vandalism,etc.) are covered by my builders risk policy, but not loss by theft.
So, if your thieves were vandals and had merely destroyed your outside unit by stealing the copper coil, would that be covered? Probably not, huh?
[addsig]
She may need to at least sign a Quitclaim for both of them.