What does Vacant mean? Read on to discover the definition & meaning of the term Vacant - to help you better understand the language used in insurance policies.
Many property provisions contain a vacancy provision. Two similar terms vacant and unoccupied have specific meanings in the language of insurance and are specifically defined in some policies. A vacant building contains little or no furniture or other personal property. Even if it is not vacant, a building is unoccupied when people are absent. The wording in many property insurance policies limits reduces or entirely eliminates coverage when a building has been vacant (or, in some forms, vacant or unoccupied) for a designated period of time such as 45 or 60 days.
We hope the you have a better understanding of the meaning of Vacant.