At Construction Insure, we help property developers protect their investment by making sure they have the right insurance while their property is unoccupied. Whether its prior to planning permission being granted and actual building work beginning, or if the property is to remain unoccupied for a long time, before being sold.
What is Unoccupied Property Insurance?
If you’re a developer, you know that obtaining a property to carry out works on, is only the first step. Getting the appropriate planning permission can sometimes be a very lengthy process. Depending on whether you’re, for instance, repurposing the building, or perhaps heightening it above the treeline, you may have to enter into time-consuming consultations and meetings with local councils or residents. Or due to there being a Restrictive Covenant on the property there could be further delays. The time between purchasing your property and actually getting approval to develop it could easily be months. During that time, your investment will be unoccupied. So, in order to protect it, prior to any work beginning, you need to have Unoccupied Property Insurance which will not only cover the buildings but will also give you cover for Property Owners Liability. To help you do this, you require a broker with long experience of all the insurance requirements of the construction industry. At Construction Insure, we’ve been protecting developers and contractors for forty years, so we know the cover you need for your development.