Question

Identify the three types of property which can be covered by the Builder's Risk Policy:

a) Finished Structures, Equipment, and Landscaping
b) Materials in Transit, Temporary Structures, and Completed Buildings
c) Construction Machinery, Tools, and Employee Personal Belongings
d) Raw Materials, In-Progress Structures, and Finished Goods

Answer 1

A Builder's Risk Policy typically covers Materials in Transit, Temporary Structures, and Completed Buildings, which are integral parts of the construction process and associated risks.

Step-by-step explanation:

The three types of property that can be covered by a Builder's Risk Policy are b) Materials in Transit, Temporary Structures, and Completed Buildings.

These items are typically associated with the construction process. Materials in transit refers to any raw materials or supplies that are being transported to the construction site. Temporary structures are those built on-site to support the construction process but are not part of the permanent structure, such as scaffolding. Lastly, completed buildings refer to parts of the construction project that are finished and awaiting finalization or sale.