It shall be the responsibility of the property owner to maintain liability insurance on all vacant buildings. A certificate of insurance for each vacant property shall be provided to the city with the initial vacant property registration form and subsequent renewal applications whenever an insurance policy has expired or there is a change of insurance carrier. All insurance policies for vacant property shall provide written notice to the Director of any lapse, cancellation or change in coverage within 30 days. Minimum insurance amounts (and if adjusted, to be adjusted at the sole discretion of the Administrator) are as follows:
(A) Residential properties:
(1) Single-family and two units: $250,000;
(2) Three to 11 units: $750,000;
(3) 12 to 49 units: $1,000,000; and
(4) 50 or more units: $2,000,000.
(B) Non-residential properties: $2,000,000.
(Ord. 24-10, passed 3-18-2024; Ord. 24-12, passed 4-1-2024)