When does coverage under the builders risk form typically end?

The builders risk form is designed to provide coverage for buildings under construction, protecting against damage from various risks during the building process. Coverage typically ends when the structure is completed and occupied, which is why the point at which the building is occupied often serves as a key milestone for insurance coverage.

Occupying a building signifies that the construction has reached a stage where the owner can use the structure for its intended purpose. This transition from construction to occupancy often marks the conclusion of risk assumed by the builders risk policy, as the need for specific construction-related coverage diminishes at that point. Essentially, once the building has been occupied, the risk profile changes, and homeowners' insurance, or a different form of property insurance, typically takes over to cover the now completed structure.

In contrast, the other options do not accurately capture the standard policy terms related to occupancy and completion of the building, either by setting arbitrary timeframes that may not align with actual occupancy or by suggesting conditions unrelated to occupancy status.