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Property developER insurance

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. 

How our team of 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.

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.

Owner controlled insurance programme

An owner controlled insurance programme (OCIP) is an arrangement where the owner, or employer, arranges and purchases certain insurances for the construction project.

Real estate insurance

If you work in real estate you face numerous challenges and risks that require a specialist insurance broker offering strategic advice and tailored real estate insurance.

Frequently asked questions

Q
What insurance do property developers need?
A
If you're planning a new build or other significant construction project, we would normally recommend an owner controlled insurance programme (OCIP). The type and level of cover you need will depend on the size and complexity of your project. Get in touch with us to discuss your needs.