SYSTEM AND METHOD OF CONVERTING A BUILDERS RISK INSURANCE POLICY TO A HOMEOWNER'S INSURANCE POLICY

摘要

An Internet-implemented computer system and method for providing an automated insurance package that starts with builder's risk coverage initiated either by the homebuilder that builds the home or by the lender that finances the home construction. The builder's risk policy converts to a homeowner's insurance policy upon the permanent mortgage loan closing when the new home is complete and ready for occupancy. Preferably, any unearned premium for the time remaining on the builder's risk policy is credited to the premium due on the new homeowner's policy.