Registered Insurance Brokers of Ontario (RIBO) Practice Exam

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What distinguishes unoccupied premises from vacant premises?

Physical condition
Intent to return
Length of absence
Type of occupancy

The correct answer is: Intent to return

The distinction between unoccupied and vacant premises primarily revolves around the intent to return. An unoccupied premises refers to a property that currently has no occupants, but there is an intention or expectation that people will return. This situation often applies to homes where the owners are temporarily away but plan to come back. On the other hand, vacant premises indicate a property that is not only unoccupied but is also not intended to be reoccupied in the foreseeable future. This can refer to buildings that are left empty without plans for future usage or that are for sale or lease. Thus, the focus on the intent to return helps clarify the vital difference between the two, making this the most suitable answer.