Which property is generally excluded from coverage in property policies?

In property insurance policies, coverage typically excludes vacant buildings after a specified period due to the increased risk associated with unoccupied properties. A building that has been vacant for more than 15 days is often seen as higher risk for several reasons: it lacks regular monitoring and maintenance, making it more susceptible to vandalism, theft, and deterioration, such as water damage or fire hazards. Insurers may impose these exclusions to mitigate potential losses that arise from these elevated risks associated with vacant structures.

In contrast, properties that have been recently renovated, newly constructed buildings, or buildings used for residential purposes generally do not automatically face exclusion from standard coverage. Renovations might even increase a property's value or safety, newly constructed buildings can often have warranties and inspections affirming their condition, and residential properties typically fall within standard coverage scopes. Therefore, the exclusion of coverage for buildings vacant over 15 days aligns with the insurer's strategy to manage risk effectively.