Premises in commercial insurance refers to the building(s) that are insured, that contain the insured property and any insured property immediately adjacent are considered to be premises.

Premises for personal insurance is a bit different. The wordings will often define premises to be:

  • All premises where the person(s) named as Insured on the Coverage Summary page, or his or her spouse, maintains a residence, including seasonal and other residences, provided such premises are specifically described on the Coverage Summary Page. This does not include business property or farms.
  • It also includes premises where you are residing temporarily or which you are using temporarily, as long as you are not:

a. the owner of the premises;
b. the lessee or tenant of the premises under any agreement which is longer than 90 consecutive days;

  • premises in Canada to be occupied by you as your principal residence from the date you acquire ownership or take possession but not beyond the earliest of:

a. 60 consecutive days;
b. the date the policy expires or is terminated;
c. the date upon which specific liability insurance is arranged for such premises;

  • individual or family cemetery plots or burial vaults;
  • vacant land in Canada you own or rent from others, excluding farm land unless specifically shown on the Coverage Summary Page.
  • land in Canada where an independent contractor is building a one or two family or three-family residence to be occupied by you.

Know the coverage you have. Ask questions. Get answers. Take control of your insurance.