Short answer: Builders risk insurance covers a Florida home or building while it is under construction or major renovation, including materials on site and in transit, against fire, theft, vandalism and, if included, windstorm. It runs until the project is finished and occupied, then you move to a homeowners, condo or commercial policy. Nymble Insurance places builders risk for owners and contractors in Florida. Call (813) 291-3484.
What builders risk covers
- The structure under construction and building materials.
- Materials in transit and in temporary storage.
- Optional soft costs, debris removal and permit fees.
It does not cover contractor liability, tools or workers' comp, which belong on the contractor's business policies.
Wind and hurricane season
In Florida, confirm windstorm is included and check the named-storm deductible. Many carriers will not bind new coverage while a storm threatens; see binding restrictions. Start the policy before work begins.
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Get Your Free Review →Renovations and condo projects
Large remodels can void or limit an existing homeowners policy, especially when the home is empty. Renovation builders risk or a course-of-construction endorsement fills the gap. Condo associations doing major restoration after milestone inspections should review coverage with their agent; see condo association insurance.
Builders Risk Insurance FAQ
Who buys builders risk in Florida, the owner or the contractor?
Does builders risk cover hurricanes in Florida?
What happens when construction ends?
Sources
Educational information only, not legal advice or a coverage guarantee. Coverage depends on the policy issued. Nymble Insurance, licensed Florida independent agency, license L131669, (813) 291-3484.