Managing the Transition: Builder’s Risk Expiration and Permission to Occupy

The end of a project is one of the highest-risk phases of the construction life cycle. As work nears completion, owners must decide when to transition their property insurance coverage from builder’s risk insurance to their stabilized insurance. That decision may not always be as simple as an expiration date. Many builder’s risk policies are structured to expire upon certain milestones, and those milestones can be negotiable.

This white paper examines best practices for owners and developers, touching on financial incentives, coverage triggers, and how the entire process is keyed to "permission to occupy.