Tailored insurance packages for Australian property developers
Property development can be an exciting venture with the option of residential, commercial, industrial and retail projects. Although property development can be profitable, you also need to contend with complex risks which can impact on your bottom line. Property developers insurance is designed specifically to protect you from the unexpected and forms an important part of your overall risk management strategy.
At GSK Insurance Brokers, we offer insurance packages that address the realities of investing in real estate. As well as the standard risks covered by residential property insurance, we can show you how to protect yourself from such unique risks as rent default and malicious damage.
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?
In property development, there is potentially a high financial return but you also face a number of risks. With issues such as building regulations and permits, contractual requirements, the risk of injury or damage during construction, and management of employees, it’s easy to see why insurance is essential in providing ongoing financial peace of mind. In many situations, you will also have tenants which come with their own set of risks associated with malicious or accidental damage, rent default, and injury. If you require insurance for your property development but aren’t sure what cover applies to you, speak with one of the GSK brokers for personalised advice.
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.
Our focus at GSK is our clients and we aim to provide simple, easy to understand insurance solutions. When you choose GSK, you will have an experienced broker who understands your risk factors and tailors insurance accordingly. Let us insure you success!
To find out more about the best property developers insurance for you, contact GSK Insurance Brokers today.