A builder's risk form is most often written as which of the following?

A builder's risk form is most commonly written as a completed value form because it provides coverage for the completed value of the project rather than at an interim or specific value. This type of policy is designed for buildings or projects under construction and covers losses to the property up to the agreed-upon total value upon completion.

In a completed value form, coverage is automatically adjusted to match the project's value as construction progresses, which simplifies the insurance process for builders. This approach ensures that the full value of the project is covered once it is completed, rather than requiring adjustments that might be necessary in other types of policies.

Other forms like the specific value form assign a set dollar amount to specific items, while a scheduled form specifies coverage limits per item or structure but doesn’t adapt as easily to the total value of an ongoing project. Reporting forms typically require periodic updates on values insured, which adds complexity in the construction context. Thus, the completed value form is the most straightforward and suitable option for builder’s risk insurance.