Property Developers Insurance Checklist

When you take on a development project, your insurance needs change at every stage, from exchange to completion. Here's what to check and when.

Before you Exchange

Check for restrictive covenants before you exchange. These can limit what you're allowed to build or how you use the land, and you may need insurance to protect against them.

Also check for the absence of easements. This protects you if the property doesn't have a legal right to access services such as drainage or a shared driveway.

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Once you Own the Property

You’ll need property owners insurance if the building will stand empty at any point. This covers you as the owner while it’s unoccupied.

To get an accurate quote, your insurer will need to know:

  • Construction insuranceHow long the property will be empty
  • Construction insuranceWhat work you plan to carry out
  • Construction insuranceWhether there have been any previous claims, subsidence or flooding

Property owners liability is included automatically with our cover. You’d only need separate land liability insurance if you own an empty plot with no building on it.

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Construction insurance

Choosing a Contractor

You’ll need a JCT contract in place before development starts. There are two main types:

  • Construction insuranceJCT 5.4a or 5.4b, for minor works
  • Construction insuranceCT 21.2.1, for major renovations, which gives non-negligence cover to protect neighbouring properties from unforeseen damage during the build

If your project could affect a neighbour’s natural light, check whether you need Right of Light insurance too. This is usually arranged with a Right of Light surveyor.

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During Development

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If you’re carrying out structural work, or building outside the original footprint of the property, you’ll need contract works insurance or contractors’ all risk insurance. Make sure the policy covers the full cost and duration of the project, not just part of it.

Getting it Right from the Start

Construction insurance

Property development involves more than buying a building and diving straight in. Every stage carries its own risks, and the right insurance protects the asset you’re building. If you’re not sure what you need, our team can talk you through your options.

What our Clients Say

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" Comparing like with like plus some lower excesses you have managed to save me in excess of £1500 or approximately 15% on my previous insurer. "

- Hew Stevenson