Líneas ComercialesPregunta 476 de 531
A builders risk policy on a commercial building under construction is normally written for a limit equal to:
a.the land and the building together
b.the completed value of the building
c.the contractor's fee for the job
d.the value in place when work starts
Explicación
Builders risk is written on a completed value basis: the limit is set at what the finished structure will be worth, and the exposure builds up as materials, labour and equipment go into the job. Insuring only the value in place on day one would leave the project badly underinsured within weeks. Land is not insurable property, and the contractor's fee measures profit rather than the property at risk. Coverage ends when the building is accepted, occupied or put to its intended use.
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