Coverage under the builders risk form will end in all of the following situations EXCEPT
60 after the construction has ended
Coverage under the builders risk form will not end in case of a covered loss or damage to the insured property caused by the perils specified in the policy. However, coverage under the builders risk form may end in the following situations:
1. Completion or termination of the building project: The policy coverage ends once the project has been completed or terminated.
2. Occupancy of the building: Once the building is occupied by the owner or tenants, the coverage under the builders risk form ends.
3. Abandonment of the project: If the project is abandoned by the owner or contractor for any reason, the coverage under the policy may end, subject to the insurer’s discretion.
4. Policy expiration date: The policy coverage will end when the policy expires, unless it is renewed or extended by the parties involved.
Therefore, coverage under the builders risk form will NOT end in all situations as stated in the question.
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