This is a special form of insurance written to cover the unique loss exposure presented by buildings under construction. The policy basically provides property coverage (fire and hazard) and often much broader coverage than that which can be found under the common commercial property forms. The policy cannot provide other coverages that are needed for those who are erecting buildings (liability, workers compensation, flood, etc.). Separate coverage must be written to provide the full spectrum of coverage that a person needs when constructing a building. All insurance companies require the insured to purchase coverage in an amount equal to the final and full replacement value of the structure and most carriers will not issue a policy after construction has started. It is imperative that coverage be placed before any construction begins.