Property Owners and Landlords Insurance

Whatever 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 build. So, again, you would need specific cover. This is where property owners 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 developers and contractors for forty years, so we know which cover you need for every stage of your build or development.

Why do you need Property Owners Insurance or Landlords Insurance?

Here are some examples where specific landlords or property owners insurance is needed. Starting with unoccupied property for new build developments: 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.