Commercial PropertyQuestion 108 of 215
An owner of a new commercial building under construction wants to insure the structure as it is being built, including materials, equipment, and supplies that will become part of the project. Which form is MOST appropriate?
a.Building and Personal Property Coverage Form (CP 00 10)
b.Commercial Crime Coverage Form
c.Builders Risk Coverage Form (CP 00 20)
d.Equipment Breakdown Protection Coverage Form
Explanation
The Builders Risk Coverage Form is specifically designed for buildings or structures under construction. It covers the building itself during construction and may include materials, supplies, equipment, machinery, and fixtures that will become a permanent part of the project, while the property is at the site, in transit, or temporarily at another location.
Law Reference: ISO Builders Risk Coverage Form (CP 00 20)Practice all 215 questions free — no signup required.
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