Provision in most property insuranceCovers an insured’s property against damage, destruction or loss by a covered peril. More policies on real property that permits a policyholder to use insuredThe entity (individual or otherwise) whose risk of financial loss from an insured peril is protected by the insurance policy. More premisesBuilding including the land immediately surrounding it and belonging to it. More for normal purposes related to occupancyOccupancy is the act of holding possession of property or premises. The term implies the use of the building for the purposes described in the policy,... More.