Property development can be an exciting and financially rewarding industry – but the risks can be significant.
As a property developer, you need to be across a range of council regulations and manage complex finance arrangements. You may also have to deal with the rising costs of materials and labour, missed deadlines and budget blowouts. Then there’s the chance your builders could become insolvent, weather events could damage your project, or equipment and materials could be stolen or lost. Finally, like all businesses, property developers need to be vigilant in protecting themselves and clients from the growing threat of cybercrime.
Our insurance brokers have significant experience covering commercial and residential building (including high rise) projects, and can therefore provide you with the expert risk advice you need to thrive in a complex industry.
What do you need to know?
At GSK, we offer comprehensive property developers insurance that will protect you from a range of risks that include fire, storm damage and other perils. As one of Australia’s leading insurance brokers, we have the experience and expertise to offer you professional service that you can rely on. We understand that property developers face complex risks, regardless of the size of your project, and our brokers will analyse your situation to identify the best possible cover. We have access to a number of policies which means we can negotiate on your behalf to find quality cover at a competitive price.
Who should consider it?
All property developers – from those developing a house to those in charge of major retail and factory developments – should take out some kind of insurance.
What can it cover?
The type of insurance cover you require will depend on a number of factors including the nature of the project you’re undertaking, the cost of your property, and the level of cover you require. Some the common forms of cover that GSK can provide with property developers insurance include:
- Public liability insurance
- Contract works insurance
- Fire and storm
- Water damage
- Rent default
- Malicious damage or theft
What isn't covered?
The exclusions that will apply to your property developers insurance package will depend on your specific policy and it’s important that you understand the cover limitations. For more information, speak to your GSK broker.
To find out more about the best property developers insurance for you, contact GSK Insurance Brokers today.