What is Property Developers Insurance?
Property Development Insurance isn’t a one-size-fits-all policy, but a collection of different covers tailored to your specific needs. You may work on small, residential developments in rural areas, or large-scale commercial urban projects. Whatever your situation, we can assess your situation and find you an insurance solution that’s right for your business.
All our Property Development Insurance plans are flexible, which means we can add and remove covers according to your requirements. However, a typical Property Development Insurance policy would usually include the following covers:
Property Developers Public Liability Insurance.
This is a vital cover for anyone working in the development trade. It provides financial protection in a case where your business activities are found responsible for injuring or killing a third party. Bear in mind that if the main contractor’s or architect’s insurance is inadequate, the responsibility for almost any accident can fall on the developer.
Employers Liability Insurance.
A legal requirement for almost any property developer, given the scale of most development projects, this covers you against similar claims made by your own employees – whether they’re full-time, part-time or casual.
Contracts work cover.
This will protect your development against almost any hazard or damage – such as may be caused by fire, flood, storm, vandalism or theft. It can be extended to cover your materials, tools and any temporary buildings erected during the project.
Unoccupied Property Cover.
Your development project may stand empty for some time after completion. Due to the substantially increased risks, many insurers are reluctant to cover unoccupied properties for more than 30 days. However, at BJP we can make sure that you remain insured whatever your circumstances.
Some other covers we frequently recommend to our property developer clients are:
- Commercial Vehicle Insurance
- Motor Fleet Insurance
- Office Insurance
- Professional Indemnity Insurance
- Directors & Officers Liability Insurance
- Legal Expenses Insurance
- Tax & VAT Investigation Fee Protection
- Tax & VAT Investigation