Sylvia is in the process of building an addition onto her used book store, which is insured under a commercial property policy. About 40 days into the process, her mother takes a bad fall and breaks her hip. Seeing that she needs to move closer to her mom, Sylvia sells the book store. Her Builder’s Risk coverage is terminated because:

Insurance

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Sylvia is in the process of building an addition onto her used book store, which is insured under a commercial property policy. About 40 days into the process, her mother takes a bad fall and breaks her hip. Seeing that she needs to move closer to her mom, Sylvia sells the book store. Her Builder’s Risk coverage is terminated because:

Answer: Sylvia no longer has insurable interest in the building

You should now have gotten the answer to your question “Sylvia is in the process of building an addition onto her used book store, which is insured under a commercial property policy. About 40 days into the process, her mother takes a bad fall and breaks her hip. Seeing that she needs to move closer to her mom, Sylvia sells the book store. Her Builder’s Risk coverage is terminated because:”, which was part of Insurance MCQs & Answers. Thanks for choosing us.