Question

A building is insured, but no one has lived or worked in it for 10 years. The building is completely empty of any furniture or personal belongings. From an Insurance standpoint, the building is considered.A. Unoccupied

- B. Vacant
- C. Abandoned
- D. Neglected

Answer 1

In insurance terms, a building that has no inhabitants or contents for a long period, such as 10 years, is considered vacant. The term unoccupied would apply if the building still contained belongings, while abandoned indicates relinquishment of ownership, and neglected suggests poor maintenance.

Step-by-step explanation:

If a building is insured but has been left without inhabitants or contents for 10 years, from an insurance standpoint, the building is considered vacant. A property is categorized as unoccupied when it is without people but still has furniture or other belongings in it. In contrast, when a property is vacant, it lacks both inhabitants and contents.

An abandoned building implies that the owner has given up the right to the property, while neglected indicates that a building is falling into disrepair due to lack of maintenance. Given the described scenario, option B, vacant, is the accurate term in insurance terminology.