Vermont Mutual- Policy form BP0002 (12/99) defines vacancy as a building with less than 70% of its total square footage occupied.  This same endorsement removes coverage for vandalism, sprinkler leakage, glass, water damage and theft after 60 days. The Vermont policy form BP0108 (3/98) then removes fire and lightning  coverage after 60 days for 3 or less units and only 30 days for all other premises.

                                       BUSINESSOWNER POLICY                                                                                  BP0002 (12/99)

9      Vacancy

a.     Description of Terms

(1)   As used in this Vacancy Condition, the term building and the term vacancy have the meaning set forth in (1)(a) and (1)(b) below:

(a)   When this policy is issued to a tenant, and with respect to the tenant's

Interest in Covered Property, building means the unit or suite rented or

Leased to the tenant. Such building is vacant when it does not contain

Enough business personal property to conduct customary operations.

(b)   When this policy is issued to the owner or general lessee of the building,

Building means the entire building. Such building is vacant when 70%

Or more of its total square footage is:

 (i) Is not rented; or

 (ii) Is not used to conduct customary operations

(2)   Buildings under construction or renovation are not considered vacant

b.   Vacancy Provisions

If the building where loss or damage occurs has been vacant for more than 60 consecutive days before that loss or damage occurs:

(1)  We will not pay for any loss or damage caused by any of the following even if they are Covered Causes of Loss:

      (a) Vandalism;

      (b) Sprinkler leakage, unless you have protected the system against freezing;

      (c) Building glass breakage;

      (d) Water damage;

      (e) Theft; or

      (f) Attempted theft.

                    (2)  With respect to Covered Causes of Loss other than those listed in (b)(1)(a) through (b)(1)(f) above, we will reduce the amount we would otherwise pay for the loss or damage by 15%.

 

 

 

BP0108 (3/98)

 

C.. If "loss" is caused by fire or lightning, the Vacancy Loss Condition is replaced by the following:

9. Vacancy or Unoccupancy

If the building where "loss" occurs, whether intended for occupancy by owner or tenant, has been vacant or unoccupied for more than:

a.     60 consecutive days for residential premises of 3 units or less; or

b.    30 consecutive days for all other premises;

Immediately before that loss or damage, we will not pay for the "loss or damage".

A building is vacant when they do not contain enough business personal property to conduct customary "operations".