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What Insurance Do Property Developers Need?

Some property developer insurance is optional - but other types of cover are essential, regardless of project scale.

Essential Property Developer Cover

As site owner, you have some legal responsibilities. This includes providing liability cover against accident and injury for anyone present on site. As such, at a minimum, you'll need:

  • Public Indemnity insurance
  • Employer's Liability insurance
  • Contract works insurance - covers the cost of damage caused by things such as theft, flood, fire, adverse weather or vandalism damage.
  • Plant and tools insurance - covers damage and theft of site tools, plant, and machinery.

Optional Insurance Property Developers Need

Alongside the essentials, you'll need to consider additional property developer insurance depending on your project circumstances.

  • Land-only Cover - for pre-build
  • Non-Negligent Cover - for damage to neighbouring buildings
  • Insurance cover extensions - if a project is delayed, cover can extended with ease
  • Cover for temporary site buildings against damage and theft

What insurance do property developers need when using contractors?

Even if your subcontractors can prove they have public liability cover, there are always elements of a project that cross over between site owner and contractors. If something arises where the ownership of an incident is unclear, you don't want to be without insurance cover.

If you're still unsure what insurance property developers need for a project like yours, we're happy to discuss the options available to you. Contact us to find out more and receive a bespoke property developer insurance quote for your project.