MLchartDataset catalogue

Vacancy provision

Term · Insurance and risk management · MLC-T-INS-003452

A clause in a property insurance policy that reduces or eliminates coverage for losses occurring when a building has been vacant for a specified period, typically 60 consecutive days. Vacant means the absence of both occupants and contents necessary for the intended use. This provision reflects the increased risk of vandalism, freezing pipes, or undetected fires in unoccupied structures.

Table 1. Record
IdentifierMLC-T-INS-003452
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003452",
  "term": "Vacancy provision",
  "field": "Insurance and risk management",
  "definition": "A clause in a property insurance policy that reduces or eliminates coverage for losses occurring when a building has been vacant for a specified period, typically 60 consecutive days. Vacant means the absence of both occupants and contents necessary for the intended use. This provision reflects the increased risk of vandalism, freezing pipes, or undetected fires in unoccupied structures.",
  "url": "https://mlchart.com/terminology/insurance/vacancy-provision/"
}

Record 3,554 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.