Why was Veronica's Builder's Risk Coverage Form terminated?

The Builder's Risk Coverage Form is designed to provide insurance for buildings under construction. This coverage typically remains in force until the project is completed or certain conditions occur that void the coverage. One such condition is the abandonment of the project. When a construction project is deemed abandoned, which could mean that work has ceased for a significant length of time with no intention to resume, the insurer may terminate the policy. This is because the risk associated with an abandoned property significantly changes, as there may be increased hazards associated with an unattended structure.

In contrast, the completion of the project would lead to the coverage naturally terminating, but that was not the case here. Changing one's mind about the structure or failing to pay the premium could affect coverage, but these scenarios do not specifically relate to the termination of the Builder's Risk coverage itself; they address different circumstances under which a policy might lapse or be altered. Therefore, the abandonment of the project is the primary and correct reason for the termination of Veronica's Builder's Risk Coverage Form.