Insuring Florida for Over 30 Years

Builders risk insurance is a specialized form of property coverage that protects a building or structure while it is under construction, renovation, or repair. It covers the physical project itself — the structure, the materials, and the equipment that will become part of it — against loss or damage before the work is complete and a permanent property policy takes over.

Builders risk typically covers loss or damage to:

• The structure under construction, including completed work in place
• Materials, supplies, and equipment on site, in transit, or in temporary storage
• Foundations, fixtures, and machinery intended to be installed
• Soft costs (by endorsement) — lost rental income, interest, taxes, and fees caused by a covered delay

Covered causes of loss commonly include fire, lightning, wind and hail, theft, vandalism, and certain weather events, subject to the policy's terms and exclusions. In Florida, windstorm exposure is a key consideration, and coverage terms should be reviewed carefully for hurricane season. Policies are written for the length of the project and based on the completed value of the structure.

Builders risk is essential for property owners, developers, general contractors, and anyone financing a project — lenders almost always require it. As an independent agency, Pettineo Insurance can place builders risk for ground-up construction, renovations, and remodels with carriers suited to Florida coastal and inland exposures.