Florida Contractors Insurance: Why Davie Builders Need Specialized Coverage

A builders risk policy is a specialized type of property insurance designed to cover buildings under construction. It can cover the structure and materials, equipment and fixtures that are on-site, in transit or temporarily stored elsewhere. This policy can cover risks such as:

• Fire
• Theft
• Vandalism
• Wind and hail
• Explosion
• Lightning

However, it’s important to note that builders risk insurance does not cover liability, accidents on the job site or worker injuries. For those, contractors need general liability and workers’ compensation policies.

Florida Risks

Sunrise and Port Orange, FL faces unique challenges that make builders risk insurance especially important.

Weather Risks

Florida is known for its unpredictable weather, including hurricanes and tropical storms. Sunrise and Port Orange, FL contractors must be prepared for sudden weather events that can damage materials or delay construction. A builders risk policy tailored to Florida’s climate can help mitigate financial losses from storm-related damage.

High Construction Activity

More projects mean more exposure to risks like theft of materials or accidental damage. Builders risk insurance helps protect your investment from these common issues.

Local Regulations

Florida has strict building codes and insurance requirements, especially in coastal and high-risk zones. Contractors in Sunrise and Port Orange, FL need policies that comply with local laws and offer coverage that reflects the realities of building here.

Customized Coverage

Contractors benefit from working with insurers who understand the local market and can customize coverage to include soft costs (like lost rental income or interest on construction loans), debris removal and ordinance or law coverage.

Learn More

Whether you’re building a single-family home or a multi-unit commercial property, a builders risk policy is a cornerstone of risk management.

If you’re a builder in Davie and want to learn more about how builders risk insurance can cover your next project, contact Iten Insurance Agency.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.