Which type of property is excluded under the Building and Personal Property Coverage Form (BPP)?

The selection of property that the insured does not own as excluded under the Building and Personal Property Coverage Form (BPP) is correct because the BPP is designed to cover tangible property that the insured possesses. This coverage specifically protects buildings, business personal property, and other kinds of property that belong to the named insured or for which the insured is responsible.

Properties that the insured does not own are excluded from coverage because the policy is intended to protect the insured’s own interests and responsibilities rather than those of others. This is a standard stipulation in most property insurance policies, which emphasize the need for an insurable interest in the property to be covered. Therefore, any property that the insured does not own fails to meet this critical requirement for coverage under the BPP.

In contrast, the other types of property listed, such as business equipment, personal items belonging to employees, and items in transit, can potentially be covered under certain circumstances or policies, albeit sometimes with limitations or specific provisions for those particular items.