Insurances For Property Developers

[thesilentpartner]

Just enquiring as the the requirements for insurances.

Basically have bought some land on which we are to put a number of apartments.

I assume insurance (building) is required just in case something were to happen to the building during construction.

Are there any other requirements ?

[Mattt]

Who is building the apartments? You as an individual or you as a company?

[Adam T]

Prof Indemnity and Buildings insurance would make sense, although if a contractor is building you the apartments they should have relevant insurances in place.

A.

[Mattt]

Not sure on the scale/duration of the build, but you might want to take a look at the CDM regulations.

[Noger]

Even if a contractor is doing the building work, you may well want contingent liability insurance to protect you if theirs fails.

You probably want legal liabilty insurance in case of title disputes when you sell.

You might want some all risks stuff.

You can't get standard building cover on something not built, so need insurance whilst being built up to completion of sale.

PI, EL, PL etc

So really you need professional advice, which the above isn't !

Zurich do a standard package for property developers and investors.

[insurance_jon]

drop me a pm with your contact details tis is my forte!

[Jemco]

I'd be happy to offer an opinion too. Please PM and I'll get right back to you.

Cheers.

Kevin