Under a businessowners policy Section I, if an insurer wants to nonrenew a policy for nonpayment of premium, how many days before the expiration date must the insurer notify the mortgageholder?

The correct answer is that an insurer must notify the mortgageholder at least 10 days before the expiration date of a businessowners policy if the nonrenewal is due to nonpayment of premium. This requirement is rooted in ensuring that the mortgageholder is given adequate notice so that they can protect their financial interest in the property. The purpose of this notice period is to allow the mortgageholder time to take appropriate action if necessary, such as securing a new insurance policy, to avoid any gaps in coverage.

The other options represent longer notice periods, which are not applicable in this specific scenario concerning nonpayment of premium. The 10-day notice is specifically mandated to facilitate timely communication while balancing the need for the insurer to manage their policies efficiently.