We're here to help with property developer insurance
Property developers often rely on others to arrange insurance for different areas of their projects. But can you really be sure you’re adequately covered?
If you're planning a new build or other significant construction project, we would normally recommend an owner controlled insurance programme (OCIP).
We understand that insurance for property developers can vary a lot, with each project needing different cover. So, we take the time to get to know you and your project, to create the right solution for you and your clients.
What does property development insurance cover?
Cover arranged by the owner of the project provides control over the policy, costs and ensures claims are paid directly, instead of passing through the contract chain to contractors and sub-contractors.
Cover can include:
- contract works
- existing property
- increased costs
- delay in start up (DSU)
- public liability
- Non negligence JCT 6.5.1 - cover for all parties can be arranged if this clause is applicable in your construction contract.
We can also help with assessment of the risk, broking, negotiating with lenders and advisers, preparation of evidence of cover and policy documentation. During the assessment it may become clear that the following additional cover are recommended:
- rights of light cover
- latent defects cover
- contingency covers including chancel liability, defective title and restrictive covenant.
How our real estate insurance experts can help you
Insurance shouldn’t be stressful, so make it simple and stress-free with Marsh Commercial. Speak to an expert today.
