Dwelling Policy (DP)Question 298 of 531
A builder needs coverage on a house he is putting up, including the lumber and fixtures stored on the site. The usual answer is:
a.an inland marine floater on the finished home
b.a builders risk policy on the job
c.a dwelling policy bought by the future buyer
d.a commercial general liability policy
Explanation
Builders risk insures a structure while it is being built along with the materials and supplies at the site that will become part of it. General liability answers third-party injury and damage claims, not damage to the builder's own work in progress. A floater written on a finished home responds to nothing during the construction period.
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