What is Property Insurance and why do you need it?

model house insurance conceptWhatever aspect of a build you’re involved with, it makes financial sense to be fully insured. Whether you’re at the planning stage, dealing with land clearance or the details of the actual build, you need to obtain cover for your liabilities, legal indemnities and material losses. But, what’s sometimes overlooked is that the property itself needs to be insured, separately from your other policies. You could have purchased a building that’s been unoccupied for several months, prior to refurbishment or development. That building would need its own cover. Or you may have a newly built property, which is at the stage where it’s been made watertight. At this point, a contractor’s policy or a contract works policy would no longer cover the property. So, again, you would need specific insurance cover. This is where property insurance is required to protect your investment. It takes a good broker, experienced in the construction industry to know details like this. At Construction Insure, we’ve been brokering policies to protect property developers and contractors for forty years, so we know which cover you need for every stage of your build or development.

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Why do you need Property Insurance?

There are other examples where specific insurance is needed. For instance, you may have developed a multi-property site, with the intention of retaining some of the properties for yourself. You would require Landlords Insurance to protect your new status. Or you may have developed a block of flats or an apartment building, specifically to retain and let. In this instance, you would need Property Owners Builders Insurance.

How does Property Insurance help you?

Once we know the details of your development or build, we have several levels of property insurance we can offer you. These are: FLEEA, which is termed as basic cover. This covers you for Fire, Lightning, Earthquake, Explosion or Aircraft. A level above that is Level 2 cover. This includes all the FLEEA protection, with the addition of subsidence and water damage insurance. Above both of those is Level 3, which is termed as ‘full perils’ and has no exclusions. We will advise you on which level is the most appropriate.

Property Insurance for Landlords

If you are intending to keep your build as an investment, perhaps as part of a growing portfolio, or as your first let property then we can offer you the best cover on the market. There are a range of Insurances available depending on your requirements. They include policies for: Loss of Rent; Building Insurance; Malicious damage, theft and accidental damage. Additional benefits, which come without an extra charge, are: Rental Guarantee; Boiler Breakdown; and Legal Cover.

How do you get the right advice?

It’s by discussing and understanding the details of your development or build, that we can broker the best options to protect you. And, if you only require short-term cover, we have insurers who allow cancellation on short notice, which means that you won’t be tied into your policy for an entire year. We have the knowledge and experience to give you help and advice about all aspects of your insurance cover. Please call us on 020 3958 6868 so we can talk to you about what you need. Then we can get you the cover that’s right for you.



" 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


" We found you to be more thorough, efficient and reasonably priced than our existing insurer. We would not hesitate in recommending you to anyone."

- Zena Nairi LLB (Hons)