Question

In a typical commercial property policy, an insured building is considered "vacant" when:

A. for 60 days, the building is either closed or has less than 31% of its available square footage occupied.
B. for 25 days, the building is either closed or has no business personal property located in the building.
C. for 30 days, the building is either closed or has less than 61% of its available square footage occupied.
D. for 45 days, the building is either closed or has no business personal property located in the building.

Answer 1

In a typical commercial property policy, a building is considered "vacant" when it is closed or has less than a certain percentage of its available square footage occupied for a specific number of days.

Step-by-step explanation:

In a typical commercial property policy, an insured building is considered "vacant" when:

1. For 60 days, the building is either closed or has less than 31% of its available square footage occupied.
2. For 25 days, the building is either closed or has no business personal property located in the building.
3. For 30 days, the building is either closed or has less than 61% of its available square footage occupied.
4. For 45 days, the building is either closed or has no business personal property located in the building.

Based on the options provided, the correct answer is

Option A

. This means that if the insured building remains closed or has less than 31% of its available square footage occupied for 60 consecutive days, it would be considered vacant under the policy.