Q
Our insured sold his house prior to having a new one constructed. He moved into an apartment and put his contents into storage. Our agency sold him an HO 00 04 10 00 for his apartment contents and specifically named the storage location as well. We also sold him an HO 00 03 10 00 for the new house he was building. A premium credit was issued for the builders risk period. He rejected the “transportation and theft of building materials” endorsement because the builder orally told him that the construction company carried insurance for that exposure since the new house was a detached condo being built simultaneously with others, and materials might be intermingled.
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