As a Property Developer, you’d know all about forward planning.
It’s a long process where you need to commit your finances and expertise in advance in order to transform a piece of land or property.
How heart breaking would it be if some unexpected event took place that was out of your control taking you back to the drawing board? Would you have the resources and commitment to start all over again?
It’s crucial that you take the time to invest in yourself and your business to avoid this painful outcome.
Who is this Property Developers Insurance for?
Property Developers Insurance provides home building insurance for property developers, home builders, construction companies and contractors who are all planning to develop a property and then rent it out or on sell it once completed, and is suitable for new builds as well as those looking at renovating, adding extensions and conversions on to properties to make them better and bigger.
Why do I need it?
If you buy a property to develop it for financial gain, it is recommended that you insure the construction part of your build rather than leaving it to the contractors who may or may not have their own insurance. If it is a medium or large sized building renovations, then having the right joint contracts tribunal clause makes the employer responsible for the insurance and not all for you.
If you don’t have Property Developers Insurance and a problem occurs it could potentially leave you financially out of pocket and have devastating results in the case of an employer’s liability which is a breach against legal requirements.
This insurance can cover you for:
- Public Liability
- Legal expenses
- Permanent and temporary works on site
- Buildings fixtures and fittings
- Loss of rental income if the letting of the property is delayed from any injury or loss
- Loss of Mortgage Interest due to the delay in selling due to an insured loss or damage
When should I get Property Developers Insurance
As soon as you buy a property that you have brought with the intention of making money out of it by renovating it to make a quick profit as you want to be protected right from the outset or any unforeseen circumstances.
Why should I contact HIFS?
At HIFS we have leveraged our networks, strong relationships, and our depth of knowledge in this space to customise insurance solutions for your needs.
- Industry qualified and experienced team
- Access to leading insurers and specialist underwriters ensuring quality covers
- Ability to place high hazard risks
- Competitive premiums
- Flexible payment options
- Professional insurance review and free no obligation quotations
As experts in this area of insurance, we work closely with our clients to understand their unique needs. We approach insurance companies on your behalf to get a range of coverage and pricing options. We compare these options and present our recommendations to you. We then secure the insurance that you select and review it with you annually.