What is property development insurance?
If you’re a property developer there are usually several layers of insurance, if you are hiring contractors they will have to have their own insurance to be able to work on the project. As a property developer, you’re often relying on insurance cover that has been arranged by someone else and you can’t always be sure the cover is adequate for your project.
Increasingly common is the developer overseeing the project and acting as the principal contractor. They employ subcontractors to complete each stage of the development, such as ground-workers, electricians and decorators. This way they ensure they maintain overall control of the works and can arrange the relevant insurances themselves.
What types of property developer cover will I need?
Developers insurance is often chosen to suit the type of project, but typically this will include:
- Contract Works
- Existing structures
- Public Liability
- Contingent Employer’s Liability
- Hired in Plant
How we can help
Our expert team can help you understand the specific policies and services you need to meet your business risks. We work with you to find the best policy for your business.
