What Is Property Developer Insurance?

It covers property developers, construction firms and contractors who profit from selling a property or renting it out. Whether you are undertaking new build development, renovating an existing property or just adding an extension, Property Developer Insurance offers you protection and peace of mind.

What Insurance Does a Property Developer Need?

As with most insurance policies, this can be all down to the circumstances of your business. Most policies would need public liability, property liability and employer’s liability (if you employ staff) insurance as a bare minimum. 

These are in place to protect you should you experience third party accidental damage to the property, or someone is injured on site. The construction industry is subject to seriously stringent health and safety procedures and liability can leave you open to large costs and possibly prosecution, if mistakes are made.

On top of the cover we’ve already discussed, you may also need Contracts Work cover, protection for your equipment and tools, unoccupied property insurance and cover for any plant you own or may have hired that is on your site.

Dependent on what level you operate at, you may also need JCT Insurance 21. 2.1, or Non-Negligence Insurance as it is sometimes known. It can protect against third party damage to properties as a result of works undertaken on your site by a contractor or external party that are not directly attributable to a negligent act.

Why Do I Need It?

The programme of works for your project is probably pretty time-restricted, so any delays to this can end up being costly.  Insurances can get you back up and running without delay, and our experts can help you deal with any bumps in the road, quickly and efficiently. It is also essential that you fully understand your obligations whether you own the property or are responsible for the construction aspect.

Insurance types

Stanmore Insurance Cyber Insurance Icon

Business Cyber Insurance Cover

Protect your business in the event of cyber attack

Read more
Stanmore Insurance Employer Liability Insurance

Employers Liability Insurance

Provides you with cover against claims from employees

Read more
Stanmore Insurance Property Damage Insurance Cover Icon

Property Damage Insurance Cover

Make sure your business can continue if the worst happens

Read more
Stanmore Insurance - Public Liability Insurance Icon

Public Liability Insurance Cover

Cover all kinds of claims made in a wide variety of work environments

Read more
Stanmore Insurance Professional Indemnity Insurance Icon

Professional Indemnity Insurance Cover

Provides cover to pay for legal costs and expenses if a customer claims.

Read more
Stanmore Insurance - Commercial Financial Crime Insurance Icon

Commercial Financial Crime Insurance Cover

Protect your company against direct losses that could occur due to the theft of money

Read more
Stanmore Insurance - Directors & Officers Insurance Icon

Directors & Officers Insurance Cover

Liability cover that protects a company’s directors, senior management and other key personnel

Read more
Stanmore Insurance - Business Interruption Icon

Business Interruption Insurance Cover

Insures you against losses of income that could occur if you were unable to trade due to an unexpected event

Read more