Under a typical commercial property vacancy provision, what generally happens if the building is vacant for more than 60 consecutive days before a covered loss occurs?

Question

Accepted Answer

Coverage for certain perils such as vandalism, glass breakage, water damage, theft, or attempted theft is suspended, and the amount paid for other covered losses is generally reduced by a stated percentage (often 15%)

Answer

All coverage is unaffected; vacancy is never a factor in how a commercial property loss is paid

Answer

Coverage is fully voided and no claim of any kind can be paid, so on the sixty-first day of vacancy the policy simply ceases to exist and the insured has no recovery for fire, windstorm, or any other peril until an entirely new policy is written on the building

Answer

The insured must move into the building within 24 hours or coverage ends, and the insurer will pay nothing for a loss occurring after that 24-hour window closes unless a new occupancy is documented and the policy is put back in force in writing by the company

Under a typical commercial property vacancy provision, what generally happens if the building is vacant for more than 60 consecutive days before a covered loss occurs?

Explanation

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