Primary Residence

Term · Insurance and risk management · MLC-T-INS-000186

A single family building, condominium unit, apartment unit, or unit within a cooperative building that will be lived in by the policyholder or the policyholder's spouse for:

• More than 50% of the 365 calendar days following the current policy effective date; or

• 50% or less of the 365 calendar days following the current policy effective date if the policyholder has only one residence and does not lease that residence to another party or use it as rental or income property at any time during the policy term.
A policyholder and the policyholder's spouse may not collectively have more than one primary residence.

Table 1. Record
Identifier	MLC-T-INS-000186
Field	Insurance and risk management
Subject	National Flood Insurance Program
References	FloodSmart Flood Insurance Glossary; FEMA Glossary

Record as JSON

{
  "id": "MLC-T-INS-000186",
  "term": "Primary Residence",
  "field": "Insurance and risk management",
  "definition": "A single family building, condominium unit, apartment unit, or unit within a cooperative building that will be lived in by the policyholder or the policyholder's spouse for:\n\n• More than 50% of the 365 calendar days following the current policy effective date; or\n\n• 50% or less of the 365 calendar days following the current policy effective date if the policyholder has only one residence and does not lease that residence to another party or use it as rental or income property at any time during the policy term.\nA policyholder and the policyholder's spouse may not collectively have more than one primary residence.",
  "subject": "National Flood Insurance Program",
  "references": [
    "FloodSmart Flood Insurance Glossary",
    "FEMA Glossary"
  ],
  "url": "https://mlchart.com/terminology/insurance/primary-residence/"
}

Record 186 of 272 in Insurance and risk management terminology (MLC-0106). Request the full dataset.