If you’re involved in a residential new-build project, are renovating, extending or converting an existing building and have the intention of selling on or renting out the finished accommodation, then you are essentially considered a property developer and could benefit from this kind of insurance cover.
You might be developing new homes from the foundations up, could be converting a commercial building into residential property, or you may be modernising and renovating a home for your rental portfolio. Any project like this with the intention of making money has significant potential rewards, but along with this goes a level of risk. Mitigating some of these risks is what property developer insurance is for.
What does property developer insurance cover?
There are many potential issues that can crop up during all kinds of property development project, so we’ve made our cover as wide-ranging as possible, including:
- New Builds
- Self Builds
- Renovation projects
- Part-completed property projects
- Completed properties with defects
- Modular builds (so-called flat pack homes)
Property development projects of any type can be very challenging. There are often tight deadlines, as well as tight budgets and there are often unforeseen events and decisions that need to be made quickly in order to keep things moving and getting the build over the line.
At Advantage, our management team includes former property developers, so we understand only too well the many difficulties that can crop up and all of the different plates that need to be spun at the same time to bring things in on time and within budget. With more than 40 years of industry experience, our property developer insurance has been designed to provide the flexibility that developers need, along with the right customer support to ensure you have the cover that you need for protection throughout all project stages. To find out more about our property developer insurance cover, get in touch with the team to discuss your project and requirements.