15% Vacant...Do UW Care on Commercial?

[insurance1822]

If I have a larger commercial mixed use building (5 apartments & an office below.) If the office is currently vacant should that stop me from writing the policy? I'm sure if I voluntarily shared that w/ the UW they'd say no..but if upon inspection they deemed that one commercial unit vacant would they issue a NOC just for that? What's the wiggle room in commercial?

 

[nyc2phi]

If I have a larger commercial mixed use building (5 apartments & an office below.) If the office is currently vacant should that stop me from writing the policy? I'm sure if I voluntarily shared that w/ the UW they'd say no..but if upon inspection they deemed that one commercial unit vacant would they issue a NOC just for that? What's the wiggle room in commercial?

What are the intentions of the vacant office? Are they planning on staying vacant, doing renovations, or filling space soon.

Generally if they plan on filling the space soon it's not a problem. If they are renovating or plan on keeping it vacant it's should be a discussion with the underwriter.

Commercial is a bit more flexible. Shouldn't not bring something up because you are worried about them turning the case down. Instead you should be up their ass asking questions and going out on inspections so you can learn this side of the business.

 

[Milkman1265]

read the forms, i believe there's like a 60 day unoccupied clause, then it also needs to be 66% occupied and it will still be ok.

Its in the forms.