Project Developer Insurance

Customized insurance solutions for your needs

In the construction world, developers build and establish new properties and communities in a number of remote and populous areas. While no two developers are quite the same, they all are subject to the same risks. Plenty of the risks can be prevented; however, others are far out of human control. For this reason, comprehensive insurance policies are essential for each and every developer.

Commercial General Liability

Commercial general liability insurance covers third-party injury and property damage. Your job sites will undeniably have some dangers, such as deep holes and falling objects. In the event that a client or passerby is injured by a hazard, you could be held liable and forced to pay for damages. Additionally, you or one of your workers could accidentally damage property that does not belong to you while on the job site. Once again, your business could be held liable to pay for repairs and damages. With commercial general liability coverage, these costs can be covered, minimizing or eliminating the amount you will pay out of pocket.
 

Builder’s Risk Insurance

For the duration of your development job, you will need commercial builder risk insurance. Even before you break ground on a project, you will need to secure insurance coverage. Builder’s risk insurance is similar to property insurance, except it is for property still under construction. It financially protects your project site, contents and unfinished buildings from damage due to named causes. Typically, these causes are fire, storms, lightning or explosions. You can negotiate certain specific risks with your policy issuer – collaborate with isure to discuss policy contract period and policy specifics.

Builder’s Risk Insurance

For the duration of your development job, you will need commercial builder risk insurance. Even before you break ground on a project, you will need to secure insurance coverage. Builder’s risk insurance is similar to property insurance, except it is for property still under construction. It financially protects your project site, contents and unfinished buildings from damage due to named causes. Typically, these causes are fire, storms, lightning or explosions. You can negotiate certain specific risks with your policy issuer – collaborate with isure to discuss policy contract period and policy specifics.

Mobile Property Insurance

Property can be damaged in the time it takes to collect the material and install it. Mobile property insurance covers costs associated with damages and theft of these materials prior to installation. This is especially handy seeing as developers work on many sites and transfer materials in between the two locations.

Land developers will need insurance for each project they are working on, and having a single policy may not protect you from each of these associated risks. Speak to one of our insurance brokers and keep your insurance costs low with isure. Bundle each policy and collectively save!