Maryland Vacant Property Insurance

Do you have a vacant property in Maryland? You should be aware than many homeowners policies do not cover the Vacant Property Insuranceproperty once it is vacated. At Balderson Insurance, we specialize in rare and difficult to find products such as vacant property insurance. As an independent broker, we work with several of the top insurers in Maryland to find the right carrier to fit the needs of our clients. We do the shopping for you to locate a carrier that offers vacant property coverage at competitive prices. So if you are looking for Maryland vacant property insurance, contact us today at (301) 874-0772 for further information and your free quote.


Who needs vacant property insurance?

There are many instances when a vacant property policy may be needed to fill in a coverage gap. Some of the most common include:

  • A vacant building that is for sale or awaiting settlement
  • A vacant property that is awaiting a new construction/renovation project
  • A fully or partially vacant rental property that is awaiting a new tenant
  • A vacant residential or commercial property in which the owner has not yet decided what they will do next

Whatever the situation, vacant property insurance can provide coverage on a temporary or more indefinite basis to provide protection for your valuable investment.


How does vacant property coverage differ from homeowner’s or commercial property insurance?

Because the property is unoccupied, there is a different set of risks than with an occupied property. Some coverages (such as personal property) could be dropped altogether while others should be added. The essential parts of a vacant property policy may include:

  • Named Peril Coverage: Similar to the dwelling and other structures portions of a homeowner policy, this covers losses named in the policy; such as fire, wind, hail, lightning and explosions.
  • Liability Coverage: If there is an accident, injury or property damage resulting from your vacant property, this coverage provides protection against ensuing legal action.
  • Vandalism/Malicious Mischief Coverage: This is an optional add-on offered by some insurers that covers acts of vandalism or other types of malicious mischief while your property is unoccupied.
  • Agreed Loss Settlement: Some policies include this add-on, which pays out the full amount (agreed upon within the policy) in the event of a total covered loss.


Some insurers offer the ability to insure for up to 12 months with renewable options and cancellation flexibility depending on your needs. Insurers may also offer the ability to more easily transition into a different type of policy (such as rental property or homeowner’s insurance) once the property is occupied.

If you are the owner of a vacant property in MD, make sure you have the proper coverages to protect yourself. Contact us today to discuss your insurance needs and let us help you find the policy that best fits your circumstances.

Need Help?

Get in touch with us for more information