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Definition of "Unoccupancy"

Absence of people for at least 60 consecutive days from a given property. Many property insurance policies suspend coverage after a structure has been unoccupied for 60 consecutive days because the probability of loss increases dramatically from such perils as vandalism and malicious mischief. Premiums for these policies were based on statements of an insured that the structure would be occupied. Unoccupancy results in an increase in hazards within the control of an insured, which gives the insurance company the right to suspend the policy.

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