Occupancy in commercial insurance terms refers to the type of business and property that is contained in a building. This is a part of how underwriting determines the rates. It is also used by the insurance company underwriter to determine the amount of insurance that company is willing to write for the property.

To get the correct rates and adequate insurance it is important that you answer questions fully and volunteer any information that you feel might be helpful. Take control of your insurance and work with your insurance agent or broker in placing the correct coverage for your possible needs. Ask questions and look for answers that you fully understand.