Construction Insurance. Types of contracts
that insure building contractors for damage to property under
construction. The completed value form requires a 100% coinsurance
because insurance carried must equal the completed value of the
structure. The reporting form allows coverage to be carried according to
the stage of completion of the structure. Perils insured against are
fire, lightning, vandalism, malicious mischief, riot and civil
commotion, smoke, sprinkler leakage, water damage, windstorm, and hail.