Final answer:
A contractor concerned about property during remodeling should buy Builders Risk Insurance to cover the structure and materials. Natural resources used may affect policy coverage regarding environmental impact. Color mismatches in materials might also be covered if it affects the project.
Step-by-step explanation:
If a contractor is concerned about his property that is being used to remodel a building while new materials are being installed, the type of coverage that should be considered is Builders Risk Insurance. This type of insurance can cover the structure, materials on-site waiting to be installed, and the materials in transit to the job site. When remodeling a building, different materials can range from structural components like steel or wood, to finishings like paint or tiles.
Natural resources can be a part of the materials used, such as wood for framing or stone for countertops. Environmental considerations might also be included in the policy, in case the use of these natural resources impacts the environment and causes a delay or change to the installation process.
The use of color in installations is also important. Color choices can greatly impact the aesthetic appeal and can either enhance or detract from the overall look of the installation. In terms of coverage, if the color of the materials does not match the specifications or is wrong altogether, this could potentially be covered by insurance if it affects the project's completion or value.