
Vacant Buildings Pose Risks, Insurance Challenges
According to the website Statista.com, the average 2018 average vacancy rate for offices nationwide was to 12.2%, while 12.1% of retail spaces and 7.8% for industrial spaces were vacant. Unfortunately, when buildings stand vacant they become susceptible to a variety of problems. There are approximately 31,000 fires in vacant buildings annually, resulting in dozens of deaths, hundreds